Bill and Dana Lozito’s Trinity Southern is taking over development of a long-planned luxury condo project in Miami Beach called 29 Indian Creek, The Real Deal has learned.
Developer Jason Halpern’s JMH Development will remain an investor-partner and adviser on the planned 22-unit development at 2901 and 2911 Indian Creek Drive, near the Faena District, Bill Lozito said. It marks the first South Florida development for New York-based Trinity, an owner-builder that has been involved in the ownership, assemblage or construction of more than 1 million square feet in its history, according to a press release.
JMH launched sales of an 11-unit building on the site about two years ago. Trinity bought into the project for an undisclosed amount in September, Lozito said, declining to disclose more details about the deal.
“We took the hard work that JMH has done and put our own spin on it,” he said.
The development, which will overlook the Indian Creek waterway, will now include a 20-unit condo building with one- and two-bedroom units, and two two-story townhouses, the release said. Prices will range from $1.4 million to just over $3 million, and the developers tapped Ryan Serhant’s eponymous firm to lead sales. Serhant’s other South Florida projects include Mercedes-Benz Places and MG Developer’s The George townhouse development in Coral Gables.
The 29 Indian Creek condos will range from 820 square feet to 1,750 square feet. The townhouses will include 500-square-foot terraces with summer kitchens and wet bars.
The project will have “as many [amenities] as the big developments,” including a rooftop pool, gym and fitness area,” Lozito said. Urban Robot is designing the development.
Buyers will also receive membership to the beach club at the nearby Miami Beach Edition, according to the release.
The team could begin demolition work in April and begin construction shortly after that. The project could be completed by the end of 2026. Trinity is bringing its team down and will supplement construction labor with local subcontractors.
The developers will self-fund construction at the start and later take out a construction loan, Lozito said. Trinity is looking to work on additional projects in South Florida, he added.
The 0.3-acre Indian Creek development site previously traded in 2017 for $7.8 million. Halpern’s JMH was tied up in litigation with former partners who included investor Dhruv Piplani. In 2022, a judge in New York dismissed the lawsuit filed by Piplani’s PSB Indian Creek and affiliated entities, allowing JMH to move forward with the project.
It’s a few blocks away from Len Blavatnik’s Faena District, a luxury complex that includes the Faena House condo building and Faena Hotel Miami Beach, both developed with Alan Faena. Aman Residences, developed by Vlad Doronin and backed by Blavatnik, is under construction in the district.
Read more
Development
South Florida
Court ruling allows Jason Halpern to develop Miami Beach resi project
Development
South Florida
Vlad Doronin, Len Blavatnik score $242M construction loan for Aman Miami Beach