Today we’d like to introduce you to Henry Torres.
Can you briefly walk us through your story – how you started and how you got to where you are today.
I took an unconventional path to real estate success in Miami, as I do not come from a multi-generation real estate family and did not start my professional career in the industry.
My family came to the U.S. from Cuba when I was four years old. We moved to Miami after about a decade in New Jersey. Once in Miami, my father, Pedro Torres, established and grew a successful seafood distribution business that dominated the Miami-Dade and Broward County markets. During those years, I developed a tireless work ethic that shaped my approach to building and scaling a business. That led to me starting my own seafood distribution business – Empire Seafood – in 1974. Covering western and central areas of Florida, I regularly worked 126 hours a week. I eventually took over the Miami-Dade and Broward territories after my father decided to leave the seafood business in 1988. After growing Empire to 100 employees, several warehouses and related facilities and a fleet of trucks, I agreed to a compelling offer from Performance Food Group to sell Empire’s Florida distribution network in 2001.
After completing the transition of Empire’s business to Performance, I realized my construction and management experience, vast database of business contacts and relentless passion and energy would make for an ideal fit in the real estate development industry. I partnered with two individuals who were in the real estate development business, Joaquin Rionda and Carlos Ortega, in 2002. I eventually acquired their shares in the business and rebranded the company as The Astor Companies in 2004.
Throughout Astor’s history, my motivation has been that everyone should be able to afford a luxurious new home in an appealing location. We’ve taken that approach and identified emerging Miami neighborhoods like Little Havana, The Roads and South Miami and others to deliver top-quality residential projects in those areas.
Obstacles/Challenges. Has it been a smooth road? If not, what were some of the struggles along the way?
I have learned important lessons throughout my careers in different industries. Those lessons continue to guide me today.
Delegating was certainly a struggle for me earlier in my career. I always thought I had to have a hand in everything my company did for it to achieve success. If I had embraced delegating back then, I would have had a much smoother road. You have to surround yourself with the right people and empower them. It is just as important to listen to your employees and consider their ideas. The boss is not always right.
About your business
The Astor Companies has been a pioneering real estate developer in Miami in large part because we have found a way to bring luxury projects to urban neighborhoods at accessible prices. We target neighborhoods with a tremendous amount of untapped potential for new vertical residential development or single-family communities. We will never follow the herd by building in saturated neighborhoods and offering a price tag that’s out of reach for the broader population.
One of our first developments, Brickell Vista in the West Brickell neighborhood, underscores this approach. At the time we developed Brickell Vista (2005), development was solely focused on Brickell Avenue. In the current real estate cycle, West Brickell has been heavily targeted by developers and Brickell Vista is established in the heart of a now dynamic and in-demand area. We applied the same thinking to projects such as Gateway in the Grove in Coconut Grove, Valencia in South Miami, Nordica in The Roads neighborhood, InTown in Little Havana and – most recently – Merrick Manor, which is currently under construction in Coral Gables.
Who also deserves credit? (Mentors, supporters, advocates, clients, etc.)
I would not be where I am today without my parents, who had the courage to move us from Cuba and start completely from scratch in the U.S. when I was four years old.
My start in the seafood business can be credited to three individuals: my father, Pedro Torres, David Poll and Bernard Ludwig. They got me started in the business and never lost their faith in me. I am forever grateful to them.
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