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Waldorf Residences Miami Secures Record-Breaking $668M Construction Loan

Waldorf Residences Miami has secured a monumental $668 million construction loan, setting a new record for the largest residential condominium development loan in Florida’s history.

Developed by PMG, the Waldorf Astoria Residences will soar over 1,000 feet above downtown Miami. This groundbreaking loan from Bank OZK and Related Fund Management surpasses the previous record for a residential construction loan in Florida.

The Waldorf tower will feature 387 units, with prices ranging from $1 million for a studio to approximately $90 million for penthouses.

Despite construction not yet starting, over 90 percent of the units have already been sold. The loan will fund the completion of the tower, which is expected to be finished by 2028.

As the tallest residential building south of New York City, this iconic development heralds a new era of luxury living in Miami.

 

 

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Florida Homes Realty & Mortgage

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