LORE Development Group and Element Development have secured a $58 million construction loan for The Lincoln, an eight-story condominium development at 2650 Lincoln Avenue in Miami’s Coconut Grove neighborhood. Designed by Miami-based Paredes Architects, with interiors by Design Philosophy and façade consulting by Rio de Janeiro-based Cité Arquitetura, the building will yield 48 residences. Winmar Construction is the general contractor.
SME Capital provided the senior construction loan, which was arranged by Berkadia. The financing carries a 30-month term with two six-month extension options. The announcement follows a recent groundbreaking celebration attended by the development team, ONE Sotheby’s International Realty leadership, and members of the brokerage community. During the event, the developers reported that sales had surpassed 40 percent.
Credit: Paredes Architects
“We are pleased to complete this financing, which reinforces the quality of The Lincoln, its prime Coconut Grove location, and the strength of our development team, shareholders and investors,” said Jorge Rucas, Director of U.S. Real Estate at LORE.
Credit: Paredes Architects
“The Grove continues to elevate its standing as one of Miami’s most sought-after luxury addresses known for high-end residential development,” said Javier Lluch, President of Element Development. “Future residents are drawn to the neighborhood’s tropical charm, tree-lined streets, and walkability to acclaimed restaurants, marinas, and parks.”
The residential program comprises one- to four-bedroom layouts, including six penthouses measuring up to 3,633 square feet. Residences are planned with in-suite dens, private balconies, walk-in closets, and Snaidero kitchens with quartz stone countertops. Miele appliances will include wine refrigerators, induction cooktops, ovens, and integrated refrigerators. Bathroom finishes will include glass shower enclosures, marble countertops, and Toto toilets.
Credit: Paredes Architects
“This milestone is a testament to the demand for luxury boutique living in Coconut Grove,” said Daniel de la Vega, President and CEO of ONE Sotheby’s International Realty. “Buyers are recognizing The Lincoln’s exceptional combination of thoughtful design, elevated amenities, and irreplaceable location with immediate access to the absolute best of South Florida.”
Credit: Paredes Architects
Indoor amenities will include a fitness center, sauna, steam room, hot and cold plunges, golf simulator, co-working lounge, and media area. The development will also provide an enclosed private dog park and a pet grooming room.
Credit: Paredes Architects
Credit: Paredes Architects
Credit: Paredes Architects
The rooftop will feature a 40-foot-long heated swimming pool and an observation deck overlooking Biscayne Bay and the surrounding cityscape. Additional outdoor amenities will include private cabanas, a yoga and meditation area, lounge seating, and summer kitchens with grills. Assigned and valet parking, private storage rooms, enclosed bicycle storage, a 24-hour front desk, and nighttime security services are also planned.
ONE Sotheby’s International Realty is handling exclusive sales and marketing. Completion is scheduled for the third quarter of 2028.
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Cheap and nasty cluttered facade. Coconut Grove has higher standards than this crap!