Concord Summit Capital Closes $12 Million Loan For Downtown Miami Development Site, Paving Way For 52-Story Tower With 545 Multifamily Units

8:00 am on June 11, 2023 By Oscar Nunez

Concord Summit Capital, LLC (“Concord Summit”) has arranged a $12 million bridge loan for an infill property in Downtown Miami. Managing Director Justin Neelis and Associate Keegan Burger of Concord Summit’s Miami office sourced and advised the loan. The bridge loan is intended to refinance the existing mortgage and provide predevelopment funds for the sponsor, Bluetrich Holdings, Inc (BHI). BHI plans to utilize these funds to realize its vision for the property, a 0.55-acre parking lot acquired in 2021 for $18 million. The site at 130 Southeast 1st Street benefits from the highest density zoning allowed, presenting a significant development opportunity.

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Argentina-Based Developers Plan Multifamily Project in Miami Beach, Replacing Single Family Home

8:00 am on June 10, 2023 By Oscar Nunez

The owners of a 5,650-square-foot property located at 7921 Carlyle Avenue in Miami Beach’s North Beach neighborhood have proposed demolishing a 1940s single-family home to make way for a three-story multifamily development. Denbora Bay, LLC, a Lake Worth, Florida-based company led by a group of individuals from Buenos Aires, Argentina, is identified as the applicant in a recent project filing submitted to Miami Beach’s Design Review Board. Known as the Denbora Bay project, the development encompasses 6,996 square feet of space, featuring seven residential units and four parking spaces. Red Octopus LLC, an architecture and planning firm based in Weston, FL, led by Argentine architects Yanina Mauro and Walter Rua, represents the developers in the filing, with MUVE Architecture listed as the architect.

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Foundation Permit Filed For Twin 42-Story Towers At 1900 Biscayne Boulevard, The Edgewater Collective

8:00 am on June 9, 2023 By Oscar Nunez

A foundation permit application has been filed for 1900 Biscayne Boulevard, twin 42-story high rises planned for Kushner Companies and PTM Partners’ Edgewater Collective three-towered mixed-use complex named the Edgewater Collective in the Arts & Entertainment District, previously known as Omni, near Edgewater, Miami. Designed by Kobi Karp Architects, the 461-foot-tall structures will collectively yield approximately 1,401,267 square feet of space, including 872 multifamily units and ground-floor retail. Balfour Beatty Construction is the general contractor.

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