Ronny Finvarb Secures $19 Million Loan for Upscale Miami Beach Mixed-Use Development
Finvarb Group Moves Forward with Ambitious Alton Road Project
The Finvarb Group, led by prominent developer Ronny Finvarb, has successfully secured a substantial $19 million construction loan for its latest luxury mixed-use development in Miami Beach. This financial milestone, provided by Coral Gables-based Amerant Bank, enables the Bay Harbor Islands development firm to commence construction on its meticulously planned project at 1790 Alton Road.
The financing agreement, recently recorded in public documents, represents a significant vote of confidence in Finvarb's vision for the 0.2-acre site. Located in one of Miami Beach's most desirable corridors near the upscale Sunset Harbour neighborhood, the development is strategically positioned to capitalize on the area's growing appeal among luxury residents and high-end retail enthusiasts.
Architectural Excellence and Thoughtful Design
The five-story structure, conceptualized by the acclaimed Miami-based architectural firm Studio Mc+G, exemplifies sophisticated urban planning with its multi-faceted approach to space utilization. The development will feature two distinctive restaurant venues occupying the first and second floors, creating a vibrant street-level presence that enhances the pedestrian experience along Alton Road.
Understanding the premium value of parking in Miami Beach, the design incorporates 19 parking spaces equipped with a state-of-the-art mechanical lift system on the ground floor—a thoughtful inclusion that maximizes the limited footprint of the site while addressing practical needs of future residents and restaurant patrons.
The upper levels will house 12 exclusive condominium residences ranging from intimate 724-square-foot units to more expansive 1,185-square-foot layouts. Each residence will benefit from the boutique nature of the building, ensuring privacy and personalized living experiences rarely found in larger developments. A luxurious rooftop pool will crown the structure, offering residents panoramic views of the surrounding Miami Beach landscape and creating an exclusive recreational amenity.
Strategic Acquisition and Adaptive Development Strategy
The Finvarb Group demonstrated remarkable foresight when acquiring the property in 2021 for $4 million—a strategic investment that positioned the firm to capitalize on the evolving real estate landscape in Miami Beach. The location's value is further enhanced by its proximity to another Finvarb development, the Kimpton Hotel Palomar South Beach at 1750 Alton Road, creating potential synergies between the properties.
What's particularly noteworthy about this development is the Finvarb Group's agility in adapting their vision in response to regulatory changes. Initially, the company had envisioned a 36-room hotel for the site, but pivoted to the current mixed-use concept after Miami Beach officials implemented more stringent restrictions on hotel development in the Sunset Harbour district. This adaptability showcases the firm's deep understanding of the local regulatory environment and its commitment to creating viable projects aligned with community priorities.
Expanding Portfolio and Regional Impact
This latest development adds to Finvarb Group's impressive portfolio, which includes three additional hotel properties in Miami Beach. Among them is a nearly completed Thompson-branded hotel at 1685 Washington Avenue, featuring 147 rooms and scheduled to welcome guests this summer—a project that further cements the company's significant footprint in Miami Beach's hospitality sector.
The developer's regional influence extends beyond Miami-Dade County, as evidenced by their recent transaction in Palm Beach County. Last year, the group sold the Courtyard Palm Beach Jupiter, a four-story, 128-room hotel, for $20.9 million to an entity managed by relatives of Marriott hotel chain founder J. Willard Marriott—a transaction that highlights the quality and marketability of Finvarb-developed properties.
Miami Beach Development Landscape
Finvarb's project enters a dynamic development environment in Miami Beach, where significant capital continues to flow into transformative projects. Among the most notable is the long-planned convention center hotel, which recently secured an impressive $392 million construction loan from Tyko Capital, led by Adi Chugh. This Grand Hyatt project, being developed adjacent to the Miami Beach Convention Center through a joint venture between David Martin's Terra and Jackie Soffer's Turnberry, will rise 17 stories and offer 800 rooms. The project's significance is further underscored by a substantial $75 million grant from Miami-Dade County secured in October.
Insights: What You Need to Know About This Development
Why is this project significant for Miami Beach?
This development represents a thoughtful approach to urban infill in a prime Miami Beach location. By combining high-end dining experiences with luxury residential offerings, the project creates a 24-hour activation point that contributes to the neighborhood's vitality while addressing housing demand in a supply-constrained market.
How does this development compare to others in the area?
Unlike larger-scale developments in Miami Beach, this boutique project offers an intimate living experience with just 12 residences, creating exclusivity that appeals to discerning buyers seeking privacy and personalized amenities. The inclusion of restaurant spaces also distinguishes it from purely residential buildings in the vicinity.
What does this financing signal about Miami Beach's real estate market?
Amerant Bank's $19 million construction loan demonstrates continued lender confidence in premium Miami Beach developments, particularly those with mixed-use components that diversify revenue streams. This financing occurred despite broader economic uncertainties, suggesting strong fundamentals for well-conceived luxury projects in prime locations.
How might this development impact surrounding property values?
Historical patterns suggest that boutique luxury developments tend to have a positive effect on neighboring property values, particularly when they replace underutilized sites. The high-quality design and premium positioning of this project will likely contribute to the ongoing appreciation of the Alton Road corridor and surrounding Sunset Harbour area.
What sustainability features are incorporated into the design?
While specific sustainability elements haven't been detailed in public documents, contemporary Miami Beach developments typically incorporate resilient design features addressing sea-level concerns, energy-efficient systems, and hurricane-resistant construction methods to ensure long-term viability in South Florida's unique environmental context.
