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
Daily Digest Miami

Bridgewater wagers $1B bet on market drop,Software exec sells Palm Beach vacant lot for $17M

A conceptual rendering and Lon Tabatchnick

Margaritaville developer plans another Hollywood hotel despite opposition

Ambassador Hotel Cooperative Apartments (Credit: iStock)

Copperline Partners closes on bulk co-op deal in Palm Beach

Daily Digest Miami

Last call for Purdy Lounge, Russell Galbut wants to sell another Miami Beach hotel: Daily digest

From left: Keith Menin and Russell Galbut, with the Domio Kaskades Hotel

Russell Galbut wants to sell another Miami Beach hotel

Smart Brickell and Santiago Vanegas

Habitat moves forward with West Brickell condo, hotel project

Jeffrey Soffer and Fontainebleau Miami Beach

Jeffrey Soffer scores $1.2B refi of Fontainebleau Miami Beach

The LaLanne exhibit at The Real Deal’s event in October

Michael Shvo to unveil tropical gardens with LaLanne exhibit at the Raleigh

arrow_forward_ios