The Real Deal Miami

PHOTOS: On the scene at Canvas brokers dinner

NR Investments secured a $75M loan for the planned 37-story tower in April

August 03, 2015 12:00PM

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Developers of Canvas, a 513-unit condominium tower planned for Miami’s Arts & Entertainment District, recently held a 50 Top Miami Brokers dinner.

Fortune International Realty, the property’s exclusive sales and marketing, has converted more than 200 reservations to contracts. Dinner was held in Miami’s Arts and Entertainment district.

In April, developer NR Investments secured a $75 million construction loan for the planned 37-story tower. Canvas, at 1630 Northeast First Avenue, is aimed at the “affordable luxury,” segment of the market, with prices averaging $475 per square foot. Units will range from about 600 square feet to 1,150 square feet, and average 850 square feet.

Canvas is one of three properties NR Investments owns in Miami’s Arts & Entertainment District, the former Omni area north of downtown. Shoshani and Gottesman developed the Filling Station Lofts, an 81-unit rental building at 657 North Miami Avenue. They also own a one-acre parcel between Northeast 14th and Northeast 15th Streets, on which they plan a mixed-use project including hotel, office and residential components. — Katherine Kallergis and Sean Stewart-Muniz