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
Photo of the new Aston Martin DBX and the Aston Martin Residences (Aston Martin)

Aston Martin Residences unveils DBX SUV, included with purchase of luxury condo

Aston Martin Residences unveils DBX SUV, included with purchase of luxury condo
(Google Maps)

Weekly condo sales, dollar volume jump in Miami-Dade

Weekly condo sales, dollar volume jump in Miami-Dade
Tom Cabrerizo and 6790-6880 Southwest 80th Street (Google Maps)

Developers score $15M construction loan for Miami townhouse development

Developers score $15M construction loan for Miami townhouse development
(Google Maps)

Condo sales fell in Miami-Dade last week

Condo sales fell in Miami-Dade last week
South Florida’s residential markets bounced back in the third quarter

South Florida’s residential sales rise in Q3, led by surge in Palm Beach County

South Florida’s residential sales rise in Q3, led by surge in Palm Beach County
Map of weekly condo sales and Solimar Condo (Credit: Google Maps)

Weekly condo sales dip in first week of November

Weekly condo sales dip in first week of November
3573 South Ocean Boulevard, Highland Beach (Google Maps)

Software telecom company founder sells waterfront Highland Beach mansion for $8M

Software telecom company founder sells waterfront Highland Beach mansion for $8M
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
arrow_forward_ios

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

Loading...