South Florida-based Cymbal DLT Companies has secured a $27 million refinancing loan for 3452-3470 North Miami Avenue, a 25,000-square-foot existing mixed-use retail and office building located in Midtown Miami. Linkvest Capital provided the refinancing through its lending affiliate LV Lending, a Miami-based private lender specializing in bridge financing for commercial and residential investments. Cymbal DLT utilized this financing to repay an existing $19 million loan previously issued by New Wave in 2022.
This refinancing enables Cymbal DLT to move forward with its redevelopment plans for the site. The firm intends to transform the 1.36-acre property into an architecturally notable, 35-story multifamily tower featuring approximately 598 residential units and 20,000 square feet of retail space. Groundbreaking is anticipated in 2026. The development, designed by Arquitectonica, will leverage Florida’s Live Local Act, designating a portion of the units for residents earning at or below 120% of the area median income.
“Recognizing the area’s potential over two decades ago, we are long-term investors in Midtown Miami, contributing to its vibrant growth with high-quality projects,” stated Cymbal DLT co-founders Asi Cymbal and Hector Delatorres. “Our in-house construction vertical allows us to build more efficiently and cost-effectively, accelerating project timelines. This streamlined approach also enables us to continue elevating both the neighborhood and the site, further enhancing Midtown’s vibrant appeal.”
“We are proud to have served as a financial partner to Cymbal DLT on the refinancing of this transformative development,” stated Alen Hernandez, commercial director, Linkvest Capital. “This project is a testament to their vision and commitment to quality. At Linkvest, we focus on building long-term relationships and providing flexible, strategic capital solutions. Our ability to move quickly and structure deals creatively sets us apart in today’s competitive market, and we look forward to supporting more of Cymbal DLT’s projects in the future.”
Strategically positioned between Miami’s Midtown and Design District neighborhoods, the new development is planned to enhance pedestrian activity through a vibrant promenade along North Miami Avenue and a dedicated cross-block pedestrian passage. The location offers residents immediate access to numerous shopping, dining, and cultural establishments, in addition to proximity to major transportation routes including I-95 and the Julia Tuttle Causeway leading to Miami Beach.
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Midtown traffic is abysmal already. All of the new construction will result in absolute gridlock 24/7.
Soviet inspired design. Can we please lose the gray as an “accent color”?!
“architecturally notable”. Same ol ARQ style to me.
Looks nothing like the soviet era buildings I’ve seen in East Berlin. I’d call it South Florida style.