Panama and New Orleans prove alluring for Florida's leading real estate sales and marketing firm

Having capitalized on the strength of the Florida market for the past decade, International Sales Group (ISG) is now seeking out opportunity in new markets. The preeminent ISG , through its Latin American entity ISG Latin America Limitada, is already active in Panama with Trump Ocean Club, International Hotel & Tower and has recently announced the company's plan for expansion into New Orleans.

"There is opportunity in niche markets," said Philip Spiegelman, chairman. "Our anchors are well established here but the saturation of the local market coupled with our appetite for new challenges have made us look elsewhere. Where we see potential, we see the ability to attract buyers."
 
In fact, since ISG was commissioned for Trump Panama, it is more than 70% sold. As tides shifted in South Florida, the Aventura-based firm recognized that the Central American country was fast becoming the number one retirement market for Americans outside the US, so it went in aligned with arguably one of the world's most recognizable names in real estate.  Not surprisingly, because ISG has been serving as the exclusive marketing and sales organization for many of the most prestigious developers in the industry since its founding.

ISG also maintains regional offices in Las Vegas and Bogot￡, Colombia.   Now, ISG is opening a branch office where it represents Algiers Crossing, a master-planned community being positioned as New Orleans' New Riverfront. Developed by Algiers Crossing, LLC, Algiers Crossing will feature one and two-bedroom residences priced from $316,000 to $611,000. Groundbreaking is expected by the end of 2007 and occupancy in summer 2009.

"Although New Orleans was grossly affected by Hurricane Katrina in 2005, it is reviving as the world-famous destination for which it is known, with Jazz, the historic French Quarter, Cajun cuisine and legendary Mardi Gras celebrations which shaped its identity," explained Spiegelman. "Add the robust oil and gas industry and New Orleans is a highly desirable place to live, work and invest."

As New Orleans is growing rapidly in population and jobs, it made sense for the principals to consider selling units in a place still recovering from tragedy. However, the Gulf Opportunity Zone Act (GO Zone), a federal program being implemented to help rebuild New Orleans by offering real estate investors tax advantages, made it even more compelling. The Act entitled first users of property that was initiated after Katrina and will be ready for occupancy by 2010 to 50% bonus depreciation in the first year.

"It is here that individual investors benefit from intriguing tax incentives you don't readily find elsewhere in America," he said.