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

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

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 Article

From left: Jay Roberts, Keith Menin andRussell Galbut

Russell Galbut, Keith Menin ink deal with short-term rental operator Domio

PurduePharma family behind office purchase in downtown West Palm, Dwyane Wade wants out of Miami Beach manse: Daily digest

Rendering of the Moxy Hotel, Pierre Charalambides and David Grutman (Credit: Kobi Karp)

Wynwood is getting its own Moxy hotel

Babylon Apartments and Francisco Martinez-Celeiro (Credit: Google Maps and Wikipedia)

Showdown in Miami? Spaghetti Western star loses Brickell upzoning battle

Renderings of 400 Biscayne and Kevin Maloney 

Developers land $162M loan for downtown Miami co-living tower

Regency Hotel Miami (Credit: Google Maps)

Regency Miami near Beckham’s planned soccer complex trades for $26M

An aerial view of damage caused by Hurricane Dorian (Credit: Getty Images)

Tourism-dependent Bahamas sees uphill battle to rebuild hotels after Hurricane Dorian’s devastation

Brickell House and Harvey Hernandez

Brickell House condo association scores $41M over failed parking garage