Berkadia Secures $9M Construction Loan for Luxury Loft Project in FATVillage
Berkadia has secured a $9.1 million loan for the construction of The Forge, a new, 7-story luxury loft building in Fort Lauderdale’s FATVillage, the city’s downtown historic warehouse district.
Located at 401 NW 1st Ave., The Forge will feature a mix of one and two-bedroom units ranging in size from 781 to 1,350 square feet. Apartments will feature 12 to 14-foot ceilings, finished concrete floors, Bauhaus-inspired windows, open entertainment kitchens, quartz countertops and smart- home technology. Amenities will include a CrossFit-inspired gym, garage parking and shared access to the Foundry Loft’s pool deck next door.
Brad Williamson of Berkadia’s Miami office secured the financing on behalf of the developer, Urban Street Development. The project, located in an Opportunity Zone, will break ground this year and deliver in late 2021.
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