Urban Robot Associates

Forman Capital Funds $54.56 Million Construction Loan for Condominium-Hotel Development in Miami’s Financial District

8:00 am on April 9, 2024 By Oscar Nunez

Forman Capital, a private direct real estate lender based in Palm Beach County, Florida, provided a $54.56 million construction loan to the developer of a condominium-hotel project in Miami’s Brickell Financial District. The 12-story, 172-unit Domus Brickell Park, designed by Zyscovich Architects with Urban Robot Associates as the interior designer, will bring a new condo-hotel brand, Domus FLATS (Flexible Apartments for Temporary Stays), to the market and fill a void for flexible ownership product.

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North Development Secures $70 Million Construction Loan, Breaks Ground On Domus Brickell Park

8:00 am on March 22, 2024 By Oscar Nunez

North Development has begun construction on Domus Brickell Park, a new addition to Miami’s Brickell Financial District known for facilitating short-term rentals. The project, a collaborative venture between Oak Capital’s Ricardo Dunin and Peru’s Edifica led by Juan Carlos Tassara, secured a $70 million construction loan from Forman Capital and Core Capital. Designed by Zyscovich Architects with interiors by Urban Robot Associates and construction by Thornton Construction Company, Inc., the 12-story, 172-unit development at 1611 Southwest 2nd Avenue has achieved over 50% sales and is anticipated for completion next winter.

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12-Story Condo Development ‘Domus Brickell Park’ Gears Up To Break Ground Next Month at 1611 SW 2nd Avenue in Miami’s Brickell Financial District

8:00 am on February 29, 2024 By Oscar Nunez

Domus Brickell Park, a 12-story condominium development by North Development—a strategic joint venture between Ricardo Dunin’s Oak Capital and Edifica, one of Peru’s most prominent developers and builders—is gearing up to break ground next month. This milestone follows the successful conversion of reservations to contracts, with over 50% of the 171 residential units already sold, including the project’s sole commercial space. Located at 1611 Southwest 2nd Avenue in Miami’s Brickell Financial District, the project introduces the Domus FLATS concept (Flexible Apartments for Temporary Stays), blending luxury hotel convenience with rental income opportunities for owners, sparking significant interest in the community.

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Sumaida + Khurana And Bizzi+Bilgili Secure $47.25 Million In Construction Financing For ‘The Fifth Miami Beach’

8:00 am on December 27, 2023 By Oscar Nunez

Sumaida + Khurana and Bizzi+Bilgili, two internationally renowned real estate development firms, announced closing $47.25 million in construction financing from Cain International for The Fifth Miami Beach. This new Class A+ office building at 950 5th Street is the first commercial building in Miami’s South of Fifth neighborhood in 20 years. Designed by Alberto Campo Baeza, who recently won Spain’s National Prize for Architecture, The Fifth Miami Beach is the architect’s first Miami building and first commercial office project in the U.S.

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