Oak Row Equities has closed on a $181M construction loan from Bank OZK for 2600 Biscayne Boulevard, a 41-story Class AAA office and multifamily tower in Miami’s Edgewater neighborhood. This transaction is one of the largest mixed-used construction loans to close in South Florida in the past year. Newmark’s Dustin Stolly, Jordan Roeschlaub, Chris Kramer, and Daniel Matz arranged the financing. Remarkably, 50% of 2600 Biscayne’s office and retail space was pre-leased before breaking ground, marking it as one of Miami’s most pre-leased new construction office buildings.
Oak Row Equities acquired the land at 2600 Biscayne in an off-market transaction and additional density from an adjacent site to create a highly competitive land basis. The project occupies an entire city block in a premier location within Edgewater, offering office and residential space with exceptional views of Biscayne Bay. The property is located within an opportunity zone, one block from the planned Northeast Corridor rail stop. Coastal Construction is the general contractor for the 521-foot-tall structure, set to rise along the western frontage of Biscayne Boulevard between Northeast 26th Street and Northeast 26th Terrace.
2600 Biscayne Boulevard. Credit: Oak Row Equities.
“We’re thrilled to close on this sophisticated transaction, one of the largest mixed-use loans in Miami this year,” says Erik Rutter, Managing Partner of Oak Row Equities. “2600 Biscayne elevates Edgewater with superior office space and rental residences of a quality that currently doesn’t exist in this submarket.”
“Our vision is to create a new future for luxury renters and leading businesses seeking a convenient and walkable location coupled with an unbeatable quality of life in Edgewater,” said David Weitz, Managing Partner at Oak Row Equities. “The tower’s cutting-edge design and unparalleled amenity offerings will push the boundaries of what is to be expected from new construction mixed-use projects in Miami.”
2600 Biscayne Boulevard. Credit: Oak Row Equities.
Designed by the renowned architecture firm Arquitectonica, with an ultra-modern aesthetic and state-of-the-art infrastructure, 2600 Biscayne will feature 187,000 square feet of exquisite office and retail space and 399 luxurious studio to three-bedroom (plus den) rental residences. With high-end finishes and incredible views of Biscayne Bay and the Miami skyline, the design lends a boutique feel to the interior of the sprawling tower. Its sculptural appearance includes a remarkable custom artwork by critically acclaimed artist Derrick Adams on the western portion of the facade, visible from multiple neighborhoods.
2600 Biscayne will achieve the Gold Certified National Green Building Standard. The tower’s offices will be on the first eleven floors within a glass pyramid-like structure with contrasting gridded facades. Office tenants will enjoy touchless entry and elevators, easily divisible floor plates, 14’ ceilings with floor-to-ceiling glass, private tenant balconies, and a wide range of indoor and outdoor wellness-focused amenities.
2600 Biscayne Boulevard. Credit: Oak Row Equities.
“Oak Row Equities is a top-tier sponsor, and Bank OZK is pleased to partner with this impressive team on financing for 2600 Biscayne Boulevard,” stated Greg Newman, Senior Managing Director of Originations at Bank OZK. “This innovative venture will redefine the Edgewater submarket through its world-class architecture and luxury amenities for residents and businesses alike. We are excited to see this upscale project come to life.”
Outdoor amenities exclusive to office tenants include a landscaped rooftop terrace, exclusive padel court, open-air seating, covered picnic areas, an outdoor wellness and yoga deck, and a fire pit. Inside, a dedicated business lounge, private meeting areas, conference rooms, and an entertainment room with a golf simulator will keep executives and employees engaged and entertained. Vehicular arrival for office tenants will be via a private porte cochere and a designated lobby with gorgeous finishes. A dedicated valet and tenant parking are available with 24/7 security and access.
2600 Biscayne Boulevard. Credit: Oak Row Equities.
2600 Biscayne Boulevard. Credit: Oak Row Equities.
The residential portion of the tower will begin 135 feet above the ground, offering stunning views from each unit and a rare opportunity to enjoy 360-degree vistas from the studio and one-bedroom apartments in addition to the larger residences. The home arrival experience will be calming and hotel-inspired.
Multiple levels of residential amenities surpass the quantity and quality of any multifamily building in Miami. Standout spaces include a pet spa, private lounge, yoga studio, and top-of-the-line fitness center. A wraparound 12th-floor amenity deck will have a lap pool, cold plunge, hot tub, luxurious cabanas, and BBQ grills. The tower’s 41st floor will feature a coworking lounge and rooftop deck.
2600 Biscayne Boulevard. Credit: Oak Row Equities.
Residents will arrive seamlessly via a separate porte cochere from office tenants, with landscaped, covered waiting areas for rideshares. 2600 Biscayne will have EV charging stations and over 600 parking spaces.
2600 Biscayne Boulevard. Credit: Oak Row Equities.
Edgewater offers many lifestyle amenities, such as the lush eight-acre Margaret Pace Park and chic dining and retail options. Wynwood, Midtown, and the Design District are moments away. After completion, Whole Foods and a Northeast Corridor rail station will be within blocks. Miami International Airport, I-95, Miami Beach, and Brickell are easily accessible from Edgewater. There is no better location in Miami.
Oak Row Equities is also developing The Wynwood Plaza, a one-million-square-foot mixed-use campus at 95 NW 29th Street in Miami’s famed Wynwood Arts District, with L&L Holding Company. Designed by renowned architecture firm Gensler, this project will be defined by a half-acre, lushly landscaped public plaza designed by Field Operations that will be the largest in the Wynwood Arts District and one of the largest in all of Miami.
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With no new office buildings coming out of the ground soon in Brickell this should fill the remainder of it’s available space pretty easy. Big asset to the area.