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Interview with Sam Mizrahi, Iranian-Canadian Real Estate Developer
Sam Mizrahi is a Toronto-based real estate developer. He was born in Tehran to Iranian Jewish parents. At the age of 6, he and his family immigrated to Canada. Mizrahi began his real estate career in 2008, founding Mizrahi Developments and beginning the development process for his first condominium shortly thereafter. Over the past decade and a half, Mizrahi Developments has grown to be a key player in the Toronto real estate market, with projects including The One, an up-and-coming skyscraper in downtown Toronto.
His culture and heritage have been big parts of his life. As an active supporter of Israel, he has managed and participated in multiple events including the annual “Walk With Israel” parade in Toronto.
Q: What are some key skills for success in high-end real estate?
Sam Mizrahi: I think patience is what separates you. Projects can be long, tedious processes that test your mental strength. You’ve got to have faith in your vision and faith in the people around you to carry it out. Surrounding yourself with great people is the other key skill. And not just within your own company – you need strong partnerships with community stakeholders, architects, contractors – there are so many parts of society that our industry interacts with, so being able to communicate effectively across many different channels and disciplines is a big advantage. And you’ve got to be organized – there are so many moving parts, staying on top of everything is critical to success.
Q: What is the most important thing your company considers when planning a new project?
Sam Mizrahi: Well, the most important thing both for our company and our community is to develop a thorough analysis of our local impact. What kind of project works best here? What is there a hunger for? How do we accentuate rather than alter the existing environment? The answers to these questions come from the quality of your relationships with local stakeholders, local business owners and residents. There are sustainability and longevity concerns to consider, and to confirm. The more of a collaboration you can have, the better the project is for everyone, and ultimately, your company will find enough success to carry out its vision.
Q: How does the location impact your building choices?
Sam Mizrahi: It’s all about designing to fit with the surroundings. You wouldn’t build a skyscraper in the middle of a historic coastal town – it would be wrong. You want to do your best to preserve the original look of your locations and keep what makes it special.
From a more functional point of view, creating a building that doesn’t suit the local lifestyle is just a recipe for disaster. You want your area to be appealing, whether that’s for retail, residence, or recreation. Ask yourself: why do people come to this area? Then, do your best to accentuate that kind of attraction.
Q: What advice do you have for other real estate developers?
Sam Mizrahi: Never skimp on quality. High quality is what keeps clients happy and ensures that your developments stand the test of time. Longevity is key in this industry, so you want to build something that lasts. It’s also important to stay true to your core values and not compromise on the things that matter most to you. Those values are what will guide your work and keep you on the right path. And above all, make sure that you stay happy with what you’re doing. If you find yourself feeling dissatisfied, take a step back, reassess what’s not working, and make the necessary adjustments. Your passion should always drive your projects.
