One Thousand Museum scores $225M construction loan

Miami /
Dec.December 02, 2016 05:00 PM

Developers Louis Birdman, Gregg Covin, Kevin Venger and the Regalia Group have closed on a $225 million construction loan for One Thousand Museum, designed by the late architect Zaha Hadid.

The 62-story, 83-unit tower is under construction and on its 26th floor, a sales agent told The Real Deal. The developer declined to disclose what lender provided the financing, but it was arranged by Robert Horowitz of New York-based Cooper-Horowitz and Bilzin Sumberg attorneys Phillip Sosnow and Jon Chassen.

One Thousand Museum, a $450 million condo tower at 1000 Biscayne Boulevard in downtown Miami, is slated to be delivered by September 2018. The building, marked by its curvy exoskeleton, is the first residential skyscraper in the Western Hemisphere for Hadid, who died unexpectedly earlier this year.

One Sotheby’s International Realty is handling sales for the project, now priced from about $5.8 million to about $22 million. Condos range from 4,600 square feet to more than 10,000 square feet. More than half of the units have sold.

Amenities will include a private helipad, spa and fitness center, two pools including an indoor aquatic center, a sky lounge, event space and a private theater, according to a press release. Plaza Construction is the general contractor.

The construction loan is one of the biggest this year in South Florida. In July, Dezer Development, the Related Group and Rockpoint Group closed on a $305 million loan for the Residences by Armani/Casa in Sunny Isles Beach. Wells Fargo and the Blackstone Group are the lenders.


Related Articles

arrow_forward_ios
Davie student housing complex scores $62M refi, construction loan
Davie student housing complex scores $62M refi, construction loan
Davie student housing complex scores $62M refi, construction loan
A rendering of Wynwood Haus
Wynwood Haus apartment tower in an Opportunity Zone scores $38M construction loan
Wynwood Haus apartment tower in an Opportunity Zone scores $38M construction loan
Derek Jeter and his Tampa mansion (Getty, Smith & Associates Real Estate/Luxury Portfolio International)
Jeter sells waterfront Tampa estate for record $23M
Jeter sells waterfront Tampa estate for record $23M
Joseph Chetrit and a rendering of the Collins Park project (Getty, Kobi Karp)
Chetrit scores $63M construction loan for long-planned Collins Park hotel in Miami Beach
Chetrit scores $63M construction loan for long-planned Collins Park hotel in Miami Beach
Cain International's Jonathan Goldstein, OKO Group's Vlad Doronin and the Brickell condo renderings. (Getty, OKO Group & Cain International)
Billionaire Vlad Doronin, partner score $128M construction loan for Brickell condo tower
Billionaire Vlad Doronin, partner score $128M construction loan for Brickell condo tower
Rendering of The Trail multifamily project with Prestige Companies COO Alexander Ruiz and Centennial Bank Southeast Florida Regional President J.C. de Ona
Prestige Companies nabs $12M construction loan for multifamily project on Ludlam Trail
Prestige Companies nabs $12M construction loan for multifamily project on Ludlam Trail
Astor Companies founder Henry Torres and a rendering of the Douglas Enclave (The Astor Companies)
Astor Companies scores $32M construction loan for Miami apartments
Astor Companies scores $32M construction loan for Miami apartments
Terra’s David Martin and renderings of the project (Terra, iStock)
Terra scores $65M loan for Northwest Miami-Dade project
Terra scores $65M loan for Northwest Miami-Dade project
arrow_forward_ios

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

Loading...