JMH Development just closed a $26 million financing deal for its upcoming Three Hundred Collins condo project in Miami Beach, which broke ground earlier this year.
The loan, issued by Stonegate Bank, covers JMH’s 34,479-square-foot development site at 320 Collins Avenue, according to county records.
Developer Jason Halpern
JMH, led by developer Jason Halpern, first launched sales for Three Hundred Collins in March 2015. The five-story project is slated to bring 19 luxury units to South Beach when it opens in 2017.
When groundbreaking commenced in February, the project was 70 percent sold. Its units range in price from $1.7 million to more than $9 million, with features like white oak floors, floor-to-ceiling windows, custom kitchens and marble bathrooms. Sizes range from 995 square feet to more than 3,700 square feet.
Amenities at the building will include a ground-floor concierge, fitness center, rooftop deck with cabanas and a 75-foot pool.
So far, the project has attracted attention from a number of wealthy domestic and Latin American buyers, the developer told The Real Deal in October, and at least one high-profile deal has been publicized: restaurateur Myles Chefetz, who lives at the Continuum, signed a $3 million contract for a unit at Three Hundred Collins in December.
This is also prominent architect Thomas Juul-Hansen’s first residential project in Miami.