Architectural rendering of Cove Miami, a 40‑story luxury condominium on Biscayne Bay in Edgewater, showcasing terraces, an infinity pool and waterfront access.
Edgewater, Miami, September 3, 2025
New York‑based sponsors SB Development Group and Hazelton Capital Group secured a $170 million construction and land loan from Bravo Property Trust to finance Cove Miami, a planned 40‑story luxury condominium on Biscayne Bay in Edgewater. The tower will offer 134 residences with floor‑to‑ceiling windows and expansive terraces, with architecture by Kobi Karp and Dieguez Fridman. Sales, handled exclusively by OneWorld Properties, report asking prices from about $900,000 to $4,000,000 and roughly 30–40% presold. The financing allows construction to advance and supports the project’s extensive waterfront amenities and luxury positioning.
Developers have closed a major financing package to build a new waterfront condo tower in Miami’s Edgewater neighborhood. New York–based SB Development Group and New York–based Hazelton Capital Group obtained a $170 million construction and land loan from Bravo Property Trust to advance the 40‑story Cove Miami project.
The loan, provided by Bravo Property Trust, another arm of Bravo Capital’s lending platform, will fund construction and land costs for the tower that fronts Biscayne Bay. The lending platform was launched in 2021 and has originated more than $1.8 billion in financing since its founding. Leadership at the lending firm says the platform seeks large sponsorships backed by experienced developers.
Cove Miami is planned as a 40‑story luxury condominium at three planned street addresses on Northeast 29th Street. The site sits along the shores of Biscayne Bay in Edgewater and will contain a limited collection of 134 luxury residences. Units will range from one‑ to four‑bedroom layouts with floor‑to‑ceiling windows, expansive wrap‑around terraces and natural design elements intended to connect residents with the waterfront setting.
Developers report the project was between roughly 30% and 40% presold at the time of the financing, and construction completion is scheduled for 2028. Reported asking prices span approximately $900,000 to $4,000,000, and the buyer mix is described as primarily foreign investors and local end users.
Cove Miami’s planned amenity program is extensive and tailored to luxury waterfront living. Highlights include an infinity pool with private cabanas, a Tranquility Spa that offers a cold plunge, massage rooms, a traditional hammam and a sauna. The tower will also feature a state‑of‑the‑art fitness center, indoor and outdoor yoga areas, a rooftop lounge with an outdoor kitchen and panoramic bay views, a private dining room with a chef’s kitchen, a Grand Theater, game and billiards rooms, a library and wine room, and a pet spa.
For waterfront access, Cove Miami will provide dock facilities for water sports and include an on‑site waterfront restaurant. Work‑from‑home needs are addressed with shared co‑working spaces and private office suites. Exclusive resident services will include on‑demand healthcare and car‑sharing options.
Architectural design work is led by Kobi Karp with collaboration from a Buenos Aires‑based firm. Project images and visualizations were produced by specialist rendering teams credited for the development’s marketing materials. OneWorld Properties is named as the exclusive sales team handling listings and buyer inquiries.
The Cove Miami site sits adjacent to a planned branded tower and amid a growing pipeline of projects in Edgewater, where multiple developers are pursuing sizable residential buildings. Recent activity in the neighborhood includes high‑value land purchases and large construction loans for nearby towers. Developers say the Cove project responds to a limited supply of well‑located units in the roughly $1 million to $2 million range and to rising demand for high‑end residences near the bay.
Developers characterize the financing environment as more challenging than in prior cycles, citing higher interest rates and tighter lending conditions. Despite those headwinds, the sponsor teams secured the construction and land loan to push the project forward. Lender leaders note a preference for large, experienced sponsors and projects that address clear market demand.
With financing in place, site work and vertical construction are expected to proceed toward the projected 2028 completion. Sales and marketing will continue as units are delivered, and the development team plans to continue coordinating permitting, construction sequencing and amenity build‑outs through the build‑out period.
A: The development secured a $170 million construction and land loan.
A: The loan was provided by Bravo Property Trust, a construction and bridge lending platform affiliated with Bravo Capital.
A: Cove Miami is a 40‑story luxury condominium with 134 residences ranging from one to four bedrooms, located on the shores of Biscayne Bay in Edgewater.
A: Construction completion is slated for 2028.
A: Amenities include an infinity pool with cabanas, a full spa with cold plunge and hammam, fitness center, indoor and outdoor yoga, rooftop lounge, private dining and chef’s kitchen, Grand Theater, game rooms, library and wine room, pet spa, dock access and an on‑site waterfront restaurant. Additional services include on‑demand healthcare and car‑sharing.
A: OneWorld Properties is the exclusive sales team for the project.
A: Reported asking prices range roughly from $900,000 to $4,000,000.
| Feature | Details |
|---|---|
| Loan amount | $170,000,000 |
| Lender | Bravo Property Trust (affiliate of Bravo Capital) |
| Developers | SB Development Group and Hazelton Capital Group |
| Height | 40 stories |
| Units | 134 residences (1–4 bedrooms) |
| Planned addresses | 456, 480 and 496 NE 29th Street |
| Location | Edgewater, Miami — waterfront on Biscayne Bay |
| Price range (reported) | Approximately $900,000 to $4,000,000 |
| Presales | About 30%–40% presold |
| Completion (planned) | 2028 |
| Architects / Design | Kobi Karp with collaboration from a Buenos Aires-based firm |
| Sales team | OneWorld Properties (exclusive) |
| Amenities | Infinity pool, spa, sauna, fitness center, rooftop lounge, theater, library, pet spa, dock access, waterfront restaurant, co-working and private offices |
San Francisco, California, September 5, 2025 News Summary San Francisco-based HappyRobot closed a $44 million Series…
Villa Rica, September 5, 2025 News Summary Villa Rica-based Caliber 1 Construction is expanding its Building…
New York, September 5, 2025 News Summary Pave Finance closed a $14 million seed round that…
Spain, September 5, 2025 News Summary Tini Living is shipping factory-built prefab homes from Spain to…
Northeast, U.S., September 5, 2025 News Summary Construction firms are being urged to accelerate adoption of…
Dutch Kills, Long Island City, Queens, September 4, 2025 News Summary A $23.15 million first mortgage…