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.
New York–based developers reached a key financing milestone for a 40‑story luxury condominium in Miami’s Edgewater neighborhood. SB Development Group and Hazelton Capital Group secured a $170 million construction and land loan provided by Bravo Property Trust, the bridge and construction lending arm affiliated with Bravo Capital.
The loan covers construction and land costs for Cove Miami, a waterfront tower planned along Biscayne Bay. Bravo Property Trust, founded in 2021 and led by Aaron Krawitz, has been actively originating development financing and has put more than $1.8 billion into the market since its inception. The trust serves as the construction lender on this project.
Cove Miami is planned as a 40‑story condominium containing a limited collection of 134 luxury residences, ranging from one‑ to four‑bedroom layouts. Units will feature floor‑to‑ceiling windows, expansive wrap‑around terraces, and curated natural elements intended to connect interiors with the bayfront setting. Architectural design is led by Kobi Karp in partnership with Buenos Aires‑based Dieguez Fridman. Visual renderings for the project were produced by CRAFT and DARKROOM.
The development’s amenity list is extensive and built around waterfront living and wellness. Planned features include an infinity pool with private cabanas, a Tranquility Spa with cold plunge, massage rooms, traditional hammam and sauna, and a state‑of‑the‑art fitness center with indoor and outdoor yoga areas. Social and entertainment spaces will include a rooftop lounge with an outdoor kitchen and panoramic bay views, a private dining room with chef’s kitchen, a Grand Theater, game and billiards room, library and wine room, and a pet spa. The project will also offer dock access for water sports, shared co‑working spaces, private office suites, and an on‑site waterfront restaurant. Exclusive resident services will include on‑demand healthcare access and Zipcar car‑sharing.
Sales launched about two years ago. Reported asking prices for residences span roughly $900,000 to $4,000,000. Sources indicate the project is approximately 30% to 40% presold, and construction completion is planned for 2028. The buyer mix reported for the development is composed primarily of international investors and local end users. OneWorld Properties serves as the exclusive sales team for the project.
Developers noted that obtaining construction financing has been more difficult due to elevated interest rates, but sponsors continued to pursue deals that meet demand for well‑located, high‑end residences. Lenders like Bravo Property Trust are targeting projects that address limited supply in the $1 million to $2 million band and broader demand for waterfront luxury product.
Cove Miami’s site sits adjacent to a planned branded tower from another developer. Edgewater remains active with a number of high‑profile parcels trading and new towers seeking financing. Nearby activity includes a recently financed 38‑story apartment project that closed a roughly $210.5 million construction loan, a 1.6‑acre condo site acquired for about $53 million, and another residential site purchased for about $15.1 million. The neighborhood is carrying multiple projects that together represent thousands of planned residential units, reinforcing the area’s role as a major development corridor.
The deal highlights continued investor appetite for well‑positioned luxury residential product in Miami despite tighter financing conditions. A construction loan of this scale from a specialist lending platform underscores how sponsors and lenders are navigating the current market to bring new waterfront housing to an area with sustained demand.
Cove Miami is a planned 40‑story luxury condominium tower in Miami’s Edgewater neighborhood with 134 residences and a robust amenity program.
Bravo Property Trust provided a $170 million construction and land loan to SB Development Group and Hazelton Capital Group for Cove Miami.
The development will offer one‑ to four‑bedroom residences with floor‑to‑ceiling windows and large terraces.
Planned amenities include an infinity pool with cabanas, a Tranquility Spa with cold plunge, sauna, hammam, fitness center, rooftop lounge, private dining room, Grand Theater, library and wine room, pet spa, dock access, co‑working spaces, private offices, and an on‑site waterfront restaurant.
Construction completion is targeted for 2028.
Reported asking prices range roughly from $900,000 to $4,000,000.
OneWorld Properties is listed as the exclusive sales team for the project.
| Feature | Details |
|---|---|
| Loan amount | $170,000,000 |
| Lender | Bravo Property Trust (affiliate of Bravo Capital) |
| Developers | SB Development Group; Hazelton Capital Group |
| Location | Edgewater, Miami — waterfront on Biscayne Bay |
| Height / units | 40 stories; 134 residences |
| Unit mix | One‑ to four‑bedroom residences |
| Pricing (reported) | Approximately $900,000 to $4,000,000 |
| Presales | Reportedly 30%–40% presold |
| Completion target | 2028 |
| Design | Kobi Karp; Dieguez Fridman |
| Amenities | Infinity pool, spa, hammam, rooftop lounge, theater, library, docking, co‑working, waterfront restaurant, and more |
| Sales team | OneWorld Properties (exclusive) |
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