Lofty Brickell, developed by Newgard Development Group, is a 44-story tower near Brickell City Center, which will break ground in Q4 of 2022. $170 Million Loan Secured for New Brickell Condo
A unique feature of the residences is an NFT art collective for condo owners, which transfers the ownership of a custom NFT to each unit owner.
July 12, 2022 at 07:45 PM
3 minute read
Real Estate
Lofty Brickell, a 44-story luxury real estate development in Miami, is nearly 80% under contract as developer Newgard Development Group has secured a $170 million loan from Miami lender 3650 REIT.
With groundbreaking set to commence in Q4, the approval of the loan is a sign of Miami's real estate market establishing itself as a national incubator for new residential models, with short-term-rental-powered condos quickly becoming the most in-demand product available. That's according to Harvey Hernandez, founder and CEO of Newgard Development Group.
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