MIAMI–Terra,Bizzi & Partners, and NewValley have secured $91.2 million construction loan forEighty Seven Park. United Overseas Bank made theloan, which sets the stage for developing of the tower early thisyear.
Site work is underway at 8701Collins Avenue in Miami Beach. Vertical construction is expected tostart in the early second quarter.
With only 70 units, Eighty SevenPark will become one of the region's most exclusive residences. TheAtlantic Ocean bounds the property on the east, a 35-acre publicpark to the south, and a two-acre private park to the north. EightySeven Park is located in Miami Beach's North Beach neighborhoodclose to both South Beach and Bal Harbour.
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