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

$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
Anonymous

Great opportunity for buyers to launder even more money!!

Anonymous
Anonymous

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

Anonymous
Anonymous

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
Anonymous

And where is your building? Please

Anonymous
Anonymous

Just don’t swim in the ocean in Sunny Isles

Anonymous
Anonymous

Only in Sunny Isles?

Anonymous
Anonymous

Lol

Anonymous
Anonymous

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

Anonymous
Anonymous

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

Anonymous
Anonymous

Subway!

Anonymous
Anonymous

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

Anonymous
Anonymous

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

Anonymous
Anonymous

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
Anonymous

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
Anonymous

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
Dan The Man

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

Yet Another Anonymous
Yet Another Anonymous

Opa-Locka airport

Magazine
Magazine

$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
Anonymous

Make Florida great again!

Anonymous
Anonymous

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

Anonymous
Anonymous

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

Anonymous
Anonymous

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
Anonymous

Beautiful.