Articles by Oscar Nunez

Demolition Permit Issued for 1401 Brickell Avenue, Paving Way for 40-Story ‘Santander Tower’

A demolition permit has been issued for the 1401 Brickell property in Miami, signaling the beginning of redevelopment for the site. Although plans for a new tower are in place, a new construction permit has yet to be filed. The issued permit outlines the total demolition of 236,877 square feet at an estimated cost of $5,890,000. The BG Group is listed as the contractor responsible for the demolition. The application for the permit was initially submitted in June 2023, and it was approved and issued on July 3, 2023.

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$69.9 Million Refinancing Secured for 4000 Ponce/The Collection in Coral Gables

Miami-based real estate development firm CMC Group has obtained a $69.9 million loan from City National Bank of Florida (CNB) for the refinancing of 4000 Ponce/The Collection, a nine-story Class-A mixed-use office and retail development in Coral Gables. Developed by CMC Group Founder Ugo Colombo in 2002, the Mediterranean-style building is also home to The Collection, a luxury car dealership featuring brands such as Ferrari, Aston Martin, and Porsche. The property is located at the intersection of Ponce de Leon Boulevard and Bird Road and includes 150,000 square feet of Class A office space and 32,000 square feet of ground-floor retail. It is over 90% leased to tenants, including Steinway & Sons, Coldwell Banker, and Hemisphere Media Group.

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Developer Secures $47.5 Million Construction Loan for ‘Forté Luxe’ at 12450 Crystal Cove Place in Jupiter, Florida

Forté Development has secured a $47.5 million construction loan from 360 Capital Funding for its luxury boutique waterfront community, Forté Luxe, in Jupiter, Florida. The loan, finalized on July 3, 2024, will finance the development of this project. Alfonso Jurado is the architect, Interiors by Steven G. handles interior design, and KAST Construction is the general contractor. Douglas Elliman Development Marketing is the exclusive sales team.

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Site and Financing Secured for 77-Story ‘ORA by Casa Tua’ in Miami’s Brickell Financial District

Miami-based developer Fortune International Group has acquired a 46,373-square-foot site at 1210 Brickell Ave and secured a $36,080,000 pre-development loan for the ORA by Casa Tua project. The loan, provided by Amerant Bank, marks a significant step forward in development. Fortune International Group purchased the site from Miami-based Patagonian Investment Internacional LLC and is now set to prepare the site for construction, with groundbreaking expected to begin in 2025.

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FAA Permits Filed for 848 Brickell, Requesting Approval for 764-Foot Tower

Key International and Sterling Bay have filed for FAA permits for 848 Brickell, a 51-story Class A office and retail tower in Miami’s Brickell neighborhood. Designed by Skidmore, Owings, & Merrill (SOM), the project’s permits were filed on June 27, 2024, and are currently under review, with the status showing “work in progress.” The structure is planned to reach 764 feet above ground, or 775 feet above mean sea level.

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