Aston Martin Residences Construction Revs Up After Developer Obtains $200M Construction Loan

The developer of the 66-story Aston Martin Residences has secured a $200 million construction loan.

Itaú BBA International plc, a London affiliate of the Brazilian bank, issued the loan. Riverwalk East Development LLC, an affiliate of G & G Business Developments LLC, is the borrower.

The loan matures in 2023.

Over 40% of units have been presold, the developer said in October. The project includes 391 condo units ranging in price from $700,000 to $50 million.

Activity at the site has been ramping up recently, with work now regularly lasting into the night. The developers also recently obtained FAA approval to install two tower cranes, which will rise 889 feet and 851 feet. Foundation construction has been underway since October 2017.

When complete, Aston Martin will rise 816 feet above ground, or 820 feet above sea level. Brickell’s 85-story Panorama Tower is the only building in Florida now taller, at 868 feet above ground.

 

 

 

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Anonymous

… and people here will still say this isn’t happening.

Transplant

It’s happening alright!

Anonymous

Haters as usual ??

Anonymous

Hey, this project and Brickell Flatiron ain’t happening, they’re just mirages so don’t believe your lying eyes. lol….

Polo

Looking forward to see this beauty rise!

Anonymous

the location in the map is slightly incorrect. The correct location is across from the JW Marriott, next to EPIC, by the river.

Cat 3 (not that smart)

I thought the same thing but the map is showing the location of the sales center.

Anonymous

now it is…. before it was not….

Anonymous

Not JW…it’s JW Marriott Marquis

Anonymous

The only projects that aren’t happening are Mana’s wynwood development next to I95 and his Flager street development and Gentings Resorts World.

Anonymous

I thought this developer was self-funding this project w/o any loans..,.

Anonymous

Can’t wait to move out of icon. This construction has no time limits at all. They bribed Miami officials so much

Anonymous

Awesome! It will unify the CBD and Brickell’s skyline.

Anonymous

i’m confused how many skylines miami has? some people talk about the city of edgewater skyline, the city of brickell skyline and soon they may talk about the city of wynwood skyline i thought all those neighborhoods were part of miami and the miami skyline

Anonymous

Miami is a city. Those others are neighborhoods. I think you got it right.

Del la Fe

Developers and the sales team did put up a great Miami poker face and acted like this was going to happen but til this loan was secured this development would have never happened. You can argue below.

Anonymous

Yes folks, Del la Fe is tuned in to everything going on in Miami.

Anonymous

Man, they have been soldiering forth without the financing. Of course they will finance, who with a brain wouldn’t?