At the age of 36, Misha Ezratti, with an estimated net worth of $200 million, has recently taken over as president of GL Homes, a company renowned for building thousands of homes in Palm Beach County over the past four decades. His father, Itzhak Ezratti, the longtime leader of the company, will continue to serve as chairman, guiding Misha as he leads the company into the future.
What Makes GL Homes Stand Out?
GL Homes has always been at the forefront of spotting trends in the real estate market. One of their key innovations has been the ability to construct a large number of homes while still offering significant customization options to buyers. “We’re one of the pioneers in being able to manage a level of volume and still offer a substantial amount of customization. It’s difficult to do both,” says Misha Ezratti.
How Has GL Homes Adapted to Market Changes?
GL Homes has thrived by anticipating shifts in buyer preferences. The company was among the first to recognize the declining interest in golf club communities, which are expensive to maintain and face dwindling memberships. Instead, they have focused on creating communities with luxurious clubhouses and amenities without the high costs associated with golf course maintenance. This strategic shift has paid off, with communities like Seven Bridges west of Delray Beach selling faster than expected.
What Are the Features of Seven Bridges?
The Seven Bridges community, one of GL Homes’ latest projects, features a 30,000-square-foot clubhouse equipped with a fitness center, group fitness studio, saunas, massage rooms, tennis courts, a resort-style pool, and a separate lap pool. The homes in this community are priced between $757,000 and $1.9 million. Remarkably, GL Homes has sold 510 out of 700 home sites in Seven Bridges, surpassing their sales expectations.
What Other Communities Are GL Homes Developing?
GL Homes is also developing mid-level homes in a new community called Dakota, located west of Delray Beach. These homes, priced between $450,000 and $585,000, are situated on larger lots that can accommodate pools, offering a similar lifestyle to their Tuscany community. The demand has been overwhelming, with 73 of 387 home sites sold shortly after sales opened.
What Are GL Homes’ Future Plans?
GL Homes aims to continue developing in the Agricultural Reserve, a south-county farming zone with strict building regulations. They propose a land swap to meet county requirements, suggesting the use of Indian Trails Grove land outside the reserve to fulfill preservation mandates. Additionally, GL Homes is focusing on in-fill housing, buying land in developed areas, particularly golf courses, for redevelopment. They are under contract to purchase the Polo Trace golf course west of Delray Beach and parts of the Fountains Country Club in suburban Lake Worth.
Who Is Misha Ezratti?
Misha Ezratti, born in Hollywood and currently residing in Miami Beach, holds a Bachelor of Science degree from Boston University’s Questrom School of Business with a concentration in finance. Married to a ballet dancer and a father to a 2 1/2-year-old son, Misha’s family, including his parents and two sisters, all live in South Florida. He has been involved in the family business from a young age, gaining firsthand experience in construction and land development.
How Has Misha Ezratti’s Leadership Influenced GL Homes?
Under Misha’s leadership, GL Homes continues to adapt to market changes and innovate. He emphasizes the importance of accountability and maintaining a positive attitude at work. His early exposure to the business and hands-on experience have equipped him to navigate the complexities of the home-building industry.
What Challenges Has GL Homes Faced?
One notable challenge was the issue of Chinese drywall, which significantly affected home builders and buyers. GL Homes addressed the problem head-on, turning potentially adversarial relationships into positive ones by doing the right thing. This approach has helped GL Homes maintain a strong reputation and customer loyalty.
What Is the Outlook for Palm Beach County?
Misha Ezratti sees a bright future for Palm Beach County, predicting continued growth driven by small businesses, higher education, healthcare, and technology. He believes GL Homes will play a crucial role in meeting the housing demands created by this growth.
What Are Misha Ezratti’s Personal Interests?
Outside of work, Misha enjoys boating with his family, scuba diving, water sports, and supporting local sports teams like the Miami Heat and Miami Dolphins. His favorite smartphone app is Pandora, reflecting his love for music.
What Qualities Does Misha Ezratti Look for in Employees?
When hiring, Misha values measured confidence backed by intelligence. He believes in leading by example and never asking someone to do something he wouldn’t do himself.
Conclusion
As Misha Ezratti takes the reins of GL Homes, the company is poised to continue its success by adapting to market trends, innovating in home construction, and maintaining a strong commitment to customer satisfaction. With a focus on luxury communities and strategic development, GL Homes is set to thrive under Misha’s leadership.
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