April 11, 2017 Comments Off on $236M Loan Secured for 64-Story Luxury Miami Condo Views: 508 Florida, National News, Southeast

$236M Loan Secured for 64-Story Luxury Miami Condo

Miami-based CMC Group secured $236-million in construction financing for Brickell Flatiron, a 64-story luxury condominium tower in downtown Miami’s Brickell Financial District. Construction is underway on 549 units, 60% of which are already sold or under contract, pushing total sales volume above $300 million.

It will be one of the tallest residential towers in the U.S., rising 736 feet above street level and deliver 360-degree views of Biscayne Bay and downtown Miami. Floorplan configurations range from single- to five-bedroom units, as well as a limited collection of penthouse and duplex residences, that measure up to 6,246 square feet.

The project is located at 1001 S. Miami Ave., and scheduled to be completed in 2019.

The loan was secured from Bank of the Ozarks and RFR Realty. Bilzin Sumberg’s Jim Shindell represented the developer.

Read more at Multi-Housing News

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