Cymbal DLT closed on a $27 million refinancing loan for 3452-3470 North Miami Avenue, an existing 25,000-square-foot mixed-use retail and office building built by Cymbal DLT and located at 3452-3470 North Miami Avenue in Midtown Miami. The loan was issued by Linkvest Capital, through its lending affiliate, LV Lending, a local private lender focused on bridge loans for commercial and residential investment.  Cymbal DLT has paid off New Wave’s $19 million loan provided in 2022. 

The refinancing will pave the way for the redevelopment of the property into a 35-story tower with 596 rooms and 20,000 square feet of retail, slated to break ground in 2026.

Cymbal DLT acquired the 1.36-acre property in 2003, transforming it from an industrial site into a Class A retail and office development. The firm plans to redevelop the property into an Arquitectonica-designed 35-story multifamily development under Florida’s Live Local Act. The development will feature some units designated for residents earning at or below 120% of the area’s median income.