Finvarb and Cho land construction loan for mixed-use hotel near Brickell City Centre

21-story, 264-key hotel is being designed by Arquitectonica

TRD MIAMI /
Aug.August 22, 2019 04:30 PM
Rendering of the Brickell hotel development, Tony Cho and Robert Finvarb

Rendering of the Brickell hotel development, Tony Cho and Robert Finvarb

Co-developers Robert Finvarb and Tony Cho closed on a $67 million loan for a mixed-use hotel near Brickell City Centre, records show.

C-F Brickell Owner LLC secured the financing from City National Bank to build on the assemblage of nearly 29,000 square feet of land at 115 Southwest Eighth Street in Miami.

Last year, the Miami Urban Development Review Board approved plans for a 21-story, 264-key dual-branded hotel on the property. The project, designed by Arquitectonica, would also feature 25,000 square feet of retail space, structured parking and a rooftop terrace.

It will be built near the Underline, a linear park that will run underneath the Metrorail tracks, beginning in Brickell and south to Dadeland.

The partnership paid $18.4 million for the site in 2017, according to property records.

Finvarb, a Miami Beach developer, is also planning a 250-unit apartment building in North Beach. The project, with ground floor retail, restaurants and a fitness component, would be similar to Sunset Harbour. In July, the Miami Beach Planning Board unanimously approved a land swap tied to the development.

Cho, president and CEO of Metro 1, is part of the development group behind the Magic City Innovation District, a $1 billion planned mixed-use project in Little Haiti.


Related Articles

arrow_forward_ios
Jeff Ardizon and Robert Suris with 950 West 49th Street, Hialeah

Estate Companies buys shuttered Hialeah Ramada for $15M

Estate Companies buys shuttered Hialeah Ramada for $15M
Civic Construction CEO Williams Real, Vlad Doronin and an aerial view of the Brickell project's foundation (Getty, Linkedin, Golden Dusk Photography)

Construction accident at OKO Group’s Brickell tower site in Miami lands six workers in the hospital

Construction accident at OKO Group’s Brickell tower site in Miami lands six workers in the hospital
(iStock)

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2
Faena Hotel Miami Beach and Eau Palm Beach (Faena, Eau Palm Beach)

Faena Hotel, Eau Palm Beach Resort among latest to lay off hundreds

Faena Hotel, Eau Palm Beach Resort among latest to lay off hundreds
Shelborne South Beach

Shelborne South Beach unit owners lose appeal contesting $30M in assessments

Shelborne South Beach unit owners lose appeal contesting $30M in assessments
Jay Parker and Mike Sales, with 801 Brickell Avenue (Credit: Google Maps)

TIAA sues Douglas Elliman over allegedly unpaid rent at Brickell high-rise

TIAA sues Douglas Elliman over allegedly unpaid rent at Brickell high-rise
From left: The Fontainebleau Miami Beach, Shore Club and Clevelander South Beach 

Record-breaking surge in Covid cases spells trouble for South Florida’s hotel market

Record-breaking surge in Covid cases spells trouble for South Florida’s hotel market
Masoud Shojaee and a rendering of Shoma Village 

Shoma Group scores $67M loan for mixed-use Hialeah project

Shoma Group scores $67M loan for mixed-use Hialeah 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...