$1.5B Condo Project (One Of Miami’s Most Expensive Ever) Gets Construction Loan

Estates at Acqualina, an ultra-luxury twin-tower project in Sunny Isles, has received construction financing and is now set to go vertical.

The project is valued at $1.5 billion, with twin towers rising 50 stories each, or 649 feet – the maximum height permitted in the area.

A total of 245 condos are planned between the two towers, with prices as high as $35 million. The first tower has reached 65 percent sold, developer Jules Trump told Bloomberg, with the trend of purchases said to be on the rise recently.

Bank OZK — formerly Bank of the Ozarks, issued the $558 million construction loan. The remainder will be financed with buyer deposits and developer equity.

Groundbreaking took place in May.

 

 

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Anonymous
2 years ago

Great opportunity for buyers to launder even more money!!

Anonymous
2 years ago

Wow, I guess you can do the same ugly project twice, right next to each other.

Anonymous
2 years ago

Uglier than the first Acqualina building??? I don’t think so! The first Acqualina building looks like a Coral Gables house that got steroids !

Anonymous
2 years ago

And where is your building? Please

Anonymous
2 years ago

Just don’t swim in the ocean in Sunny Isles

Anonymous
2 years ago

Only in Sunny Isles?

Anonymous
2 years ago

Lol

Anonymous
2 years ago

Still no infrastructure improvements. Traffic only getting worse and worse.

Anonymous
2 years ago

They’ve got one street.. what do you want? Light rail?

Anonymous
2 years ago

Subway!

Anonymous
2 years ago

How can traffic be getting worse there? I thought Sunny Isles was a boring and non happening place?

Anonymous
2 years ago

Apparently you don’t know Aventura/Sunny Isles….Don’t talk out of your ass.

Anonymous
2 years ago

Nobody lives in these buildings anyway. I lived in Eastern Shores for years and Sunny Isles is a ghost town. All of the condos are owned by foreign investors who are either laundering money or trying to move their investments to lower-risk assets.

Anonymous
2 years ago

But, the Anonymous above said “Still no infrastructure improvements. Traffic only getting worse and worse.” So let him tell it, you are “talking out of your ass” also.

Anonymous
2 years ago

Talking out of my ass? I lived there and have first hand knowledge that Sunny Isles population is not.

If that’s not good enough for you perhaps the census is? Since 2010 the population has gone up a whopping 10% from 20,000 to 22,000. Given the huge amount of development since that time it seems like most of these new developments are in fact NOT leading to a huge increase in population.

Dan The Man
2 years ago

Serious question, why is the height limit 649 feet in Sunny Isles Beach? Is due to the proximity of FLL?

Yet Another Anonymous
2 years ago

Opa-Locka airport

Magazine
2 years ago

$1.5bn value. 245 units. $6.1m per unit? Absolutely insane. Even if you sell five condos for $30m (LOL) your price per unit is over $5.5m. Insane.

Anonymous
2 years ago

Make Florida great again!

Anonymous
2 years ago

Sunny isles will disappear from the map the day all the condo owners flush their toilets at the same time ?

Anonymous
2 years ago

I wish we got more stuff like this in Miami proper, like in Edgewater and maybe the Villa Magna site.

Anonymous
2 years ago

Edgewater? So you can drive past a guy performing a DIY oil change in front yard to get to your $6.1M condo?
Yeah….Edgewater…

Anonymous
2 years ago

Beautiful.