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Neology Obtains $63.5M Loan for Miami Apartments
Neology has obtained financing for Fourteen Main Street Residences, a two-tower mixed-use development featuring 237 apartment units in Miami. Starwood provided the $63.5 million loan. The property is in a Qualified Opportunity Zone in the Allapattah section of downtown Miami.
Located at 1470 NW 36th Street, Fourteen Main Street Residences consists of a 14-story building with 180 apartment units and a five-story building with 57 apartments, including ground-floor walk-ups. The project offers studio, one-, and two-bedroom units ranging from 450 to 1,000 square feet.
Lifestyle amenities include original artwork, a 12,000-square-foot rooftop pool and clubhouse, poolside cabanas, coworking spaces, and a fitness and wellness center. The project is slated for completion in Q1 2025.
The property is on NW 36th Street, a short walk from the Allapattah Miami Metrorail Station, the Rubell Museum, and SuperBlue.
Berkadia’s Charles J. Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia Miami secured the loan.
- ◦Financing
