JMH scores $26M loan for 300 Collins project in Miami Beach

Miami /
Apr.April 26, 2016 10:30 AM

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.

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.


Related Articles

arrow_forward_ios
Clockwise from left: A rendering of Water Street Tampa, Ian Schrager, Jeff Vinik, Patrick Mahomes, rendering of Tampa Edition, Bill Gates and Tom Brady (Photos via Getty; Water Street Tampa/Photo Illustration by Kevin Rebong for The Real Deal)
Development boom in Super Bowl city: Tampa reaches for its real estate moment
Development boom in Super Bowl city: Tampa reaches for its real estate moment
Ocean Bank CEO A. Alfonso Macedo and 4238 to 4242 Northwest Seventh Street (Google Maps)
Ocean Bank sells Miami dev site for $14M, buyer plans mixed-use project
Ocean Bank sells Miami dev site for $14M, buyer plans mixed-use project
Dan Deitchman and Koby Assaraf with a rendering of Industry | Oakland Park
Oakland Park developer partners with former Link Real Estate exec on new firm
Oakland Park developer partners with former Link Real Estate exec on new firm
Renderings of the project (Group P6)
Group P6 lands $69M construction loan for Boca Raton project
Group P6 lands $69M construction loan for Boca Raton project
Alex Sapir and Bella Sapir (Credit: Mark Von Holden/WireImage via Getty Images, and ADRIEL REBOH/Patrick McMullan via Getty Images)
Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside
Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside
Renderings of the project and Gil Dezer (Getty; Renderings via  Zyscovich Architects)
Dezer’s 30-acre megaproject in North Miami Beach gets first approval
Dezer’s 30-acre megaproject in North Miami Beach gets first approval
Three Hundred Collins
Three Hundred Collins allegedly marred by cheap materials, unpaid contractors and duped investors: lawsuit
Three Hundred Collins allegedly marred by cheap materials, unpaid contractors and duped investors: lawsuit
Jeff Burns, Nick Rojo, The Bohemian Lake Worth
Affiliated Development’s Lake Worth Beach apartment project approved
Affiliated Development’s Lake Worth Beach apartment project approved
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...