Holland & Knight Advises Miami Condo Developer in $16 Million Financing Deal
MIAMI (March 3, 2016) – Holland & Knight recently advised Edgewater Two LLC, an affiliate of Stripey Development headed by Alejandro Goldemberg, as it secured $16.32 million in construction financing from C1 Bank for its 10-story condominium project in Miami's Edgewater neighborhood.
The official groundbreaking on the property was held in June 2015. Civic Construction Co. filed a notice of commencement earlier this year, and according to the developer the foundation has been laid and columns construction is already complete.
"We are very happy to have been of service to our client on this matter," said Vivian de las Cuevas-Diaz, the Holland & Knight partner who handled the deal. "We believe our client has great things planned for this particular project that will contribute significantly to the Edgewater neighborhood."
Holland & Knight associate Jorge Escobar also worked on the financing deal for Edgewater Two LLC.
The 20,000-square-foot site was purchased for $2.4 million in early 2014. Construction is scheduled to be complete in April 2017.
The 26 Edgewater condo will have 86 units at 321 N.E. 26th Street ranging in size from 598 to 1,021 square feet with prices starting at $270,000.