Dezer Development has closed on a $630 million construction loan for Bentley Residences, the world’s first Bentley-branded residential tower under construction in Sunny Isles Beach. The financing, issued by Madison Realty Capital and arranged by Berkadia South Florida, represents the largest construction loan in South Florida so far this year. Designed by Sieger Suarez Architects in collaboration with Bentley Motors, the 61-story oceanfront tower is already more than 50 percent sold, with remaining units starting at $5.8 million and penthouses priced at $37.5 million each. The development broke ground in early 2024 and is slated for completion in 2028.
Located at 18401 Collins Avenue, the 749-foot-tall tower will yield 216 residences and become the second automotive-branded project by Dezer Development, following the Porsche Design Tower completed in 2017. The Bentley-branded skyscraper will feature an enhanced iteration of Dezer’s patented “Dezervator” system, enabling residents to ascend directly to their private sky garages without ever leaving their vehicles. Coastal Construction, builder of both the Porsche Design Tower and the recently completed Aston Martin Residences in Downtown Miami, serves as the general contractor, bringing extensive expertise in the delivery of automotive-branded luxury high-rises.
Credit: Dezer Development.
Residences will feature expansive oceanfront terraces with private pools, floor-to-ceiling glass, Italian cabinetry, Gaggenau appliances, and spa-inspired bathrooms. Each unit will include a three- or four-car garage equipped with charging stations for electric vehicles.
Amenities will span 20,000 square feet, highlighted by a whiskey bar, cigar lounge, cinema, wellness spa, oceanfront pool deck, and a private restaurant curated by award-winning chef Todd English.
Credit: Dezer Development.
Site preparation and foundation work are nearing completion on the 2.3-acre oceanfront property, where a recent aerial photo shared on LinkedIn by a member of the shell contractor shows crews preparing for a major mat foundation pour. The image captures the tower’s curved footprint along the Atlantic shoreline, with dense rebar reinforcement and formwork now in place across the entire foundation area.
Credit: Dezer Development.
Berkadia’s Managing Director Scott Wadler and Director Alec Fox arranged the construction financing on behalf of Dezer Development. Madison Realty Capital’s Brian Shatz, Josh Zegen, and Adam Tantleff led the lending team.
The milestone loan underscores the growing scale of financing packages across South Florida’s luxury real estate market, where nine-figure deals are becoming increasingly common despite a tighter lending environment. With Bentley Residences now fully capitalized, Dezer continues to advance one of the region’s most anticipated residential towers, combining automotive innovation, oceanfront luxury, and architectural craftsmanship on Sunny Isles Beach.
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Loaning millions to build housing in South Florida is as safe an investment as there could possibly be in the US. And Mandami will help sell the remaining 50% of units very quickly!
Lots of building going on in the city but that’s all been in the pipeline for years. It will be interesting how many new starts in a few years. If the doom sayers are correct they won’t need many.
Looks like Godzilla coming out of the lake.
Looks like a giant part from an auto maintenance store.