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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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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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