New York-based SB Development Group and Hazelton Capital Group have closed on $170 million in construction and land financing for Cove Miami, a 40-story luxury condominium set to rise 456 NE 29th Street in Miami’s Edgewater neighborhood. The financing, provided by Bravo Property Trust—an affiliate of Bravo Capital—marks a major milestone for the bayfront project, which is slated to bring 134 residences to the heart of one of Miami’s fastest-growing districts.
Credit: SB Development.
“Securing this financing marks another significant milestone in Cove Miami’s development saga. With Bravo’s financial support, we are excited to continue developing this truly one-of-a-kind luxury development,” said Joseph Stern, Co-Founder and Principal at SB Development Group. “Edgewater is one of Miami’s most understated yet dynamic neighborhoods, and we are confident that Cove Miami will continue to raise the area’s reputation as Miami’s next luxury market.”
Credit: SB Development.
Cove Miami is being designed by Kobi Karp Architecture & Interior Design in collaboration with Buenos Aires-based Dieguez Fridman. The tower will offer one- to four-bedroom layouts, each featuring floor-to-ceiling glass, expansive wrap-around terraces, and interior finishes that emphasize natural textures and materials, blending indoor and outdoor living across Biscayne Bay’s waterfront.
Credit: SB Development.
Bravo Property Trust, which has originated over $1.8 billion in financing since its founding in 2021, is now expanding its lending footprint into Miami’s luxury condominium market through its relationship with SB Development and Hazelton.
Credit: SB Development.
“We’re always chasing quality, and we often find that quality comes in larger checks with sponsors who are ambitious and experienced,” said Aaron Krawitz, founder and CEO of Bravo Capital. “SB Development and Hazelton’s vision for Cove Miami perfectly reflects that drive; they are bringing a top-tier luxury product to Edgewater at a time when supply in the $1 million to $2 million range is limited and demand from buyers seeking well-located, high-end residences continues to grow. It’s a standout opportunity in one of Miami’s most dynamic neighborhoods.”
Credit: SB Development.
Residents of Cove Miami will have access to an extensive amenities package, including a bayfront infinity-edge pool with private cabanas, a Tranquility Spa with massage rooms, sauna, hammam, and cold plunge, a state-of-the-art fitness center, indoor and outdoor yoga studios, a rooftop lounge with outdoor kitchen, a private dining room with chef’s kitchen, a Grand Theater, a game and billiards room, a wine and library lounge, pet spa, and dock access for water sports. Additional features include shared and private co-working areas, an on-site waterfront restaurant, and exclusive resident services such as LEAA on-demand healthcare and Zipcar access.
Credit: SB Development.
“We couldn’t be more excited to deliver Cove Miami to the Edgewater community,” said Adam Westreich, Principal at Hazelton Capital Group. “Our vision is to create a residential experience that feels both elevated and authentic to the neighborhood, and we are confident Cove Miami fits the bill perfectly. This development will be more than just another luxury development—it will become the pride of Edgewater.”
Sales for Cove Miami will be exclusively handled by OneWorld Properties.
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