A great opportunity to invest with one of the most famous businessmen in the US
Total cost $ 170 Million Location Miami Government Center
Seeking debt and or equity or JV for 45 $ million
Delete the company name, Inc. has been engaged by Mr. …and delete the company name . (the “Sponsor”), as its exclusive advisor to arrange construction financing for the development of an 81-story 482 loft-unit Hi-Rise in Miami, Florida.
Liquid Lofts, the proposed development, is a 482 unit, 81 story building and 9 story garage (access to 311 spaces) strategically located at 35 S.W. 1st Street, Miami, Florida 33130 in the Miami Government Center area where there are a myriad of Federal, State and County office buildings and courthouses situated. This project is in the center of all the new and proposed growth of downtown Miami and offers excellent access to shopping at Bayside, the Miami Marina, the Miami Arena along with other adjacent cultural amenities including the Opera House, Symphony Hall and the downtown campus of Miami Dade College. It is 0.2 miles from Government Center Station, which has a weekday ridership of 20,763 combined for Metrorail and Metromover, and a total monthly ridership of 453,900. Most importantly, currently 50,000 daytime work force employees commute daily to this area due to the three major court houses which are all located within walking distance to the site. Primarily for this reason the location distinguishes itself from all others in the Miami CBD.
The Sponsor expects to close on the land in November of this year and construction is projected to start in Q2 of 2018. The land cost is very attractive at $12 million (the land appraised for $24 million in 2016). The Sponsor has spent the last 18 months getting the site fully entitled and approvals are already in place to proceed with construction documents. The projected build time is 32 months and the projected cost is $166 million, resulting in a per unit cost of approximately $345,565 and $365 per rentable square feet.