42 Pine, the highly anticipated boutique residential building at the nexus of the iconic Pine Tree Drive and 42nd Street, announces the project secured $35.5 million in financing from BridgeCity Capital to begin construction on the project. The loan comes after a highly successful sales launch, marking 50% of residences sold within a month of launching and groundbreaking scheduled to commence this month.
“This construction loan posed a unique opportunity for BridgeCity Capital to finance a ground-up, luxury condominium building in the heart of Miami Beach,” said Allan Lebovits, CEO of BridgeCity Capital. “The pace of sales at this building insofar is reflective of the ultra-strong demand for luxury, new construction residences in Miami Beach.”
The first full-service boutique condominium in the area will offer fifty move-in-ready residences ranging from one-to-three-bedrooms, including eight penthouses, meticulously crafted to deliver a bespoke lifestyle rooted in community and convenience. With architecture and interiors imagined by renowned firm Arquitectonica, the eight-story building will reflect timeless sophistication and serve as a beacon for the neighborhood. Spanning 700 square feet to 2,700 square feet for combined units, each elegantly appointed residence is delivered ready to be occupied with design intended to maximize space and build a connection to the outdoors–with sweeping floor-to-ceiling windows and doors ushering in an abundance of natural light. Private terraces with glass railings provide a seamless indoor/outdoor living experience.
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Residents will enjoy a host of resort-style amenities and services for every age. Thoughtfully curated indoor and outdoor spaces include an amenity deck with a 52’ pool, relaxation spa, cabanas and poolside service, plus a yoga and meditation lawn all surrounded by lush tropical landscaping. The property’s state-of-the-art fitness center offers advanced cardio and weight-strengthening equipment complemented by an outdoor deck. Community-minded social spaces include a club and game room, large outdoor terrace, media lounge, and children’s play room. A dedicated team including concierge, doorman, valet, and porter service is available to anticipate residents’ every need.
Located in one of the most sought-after residential neighborhoods in Miami Beach, at the intersection of Pine Tree Drive and 41st Street, residents can enjoy access to the beach, top-rated schools, fine-dining, houses of worship and boutique shopping experiences all within walking distance.
With completion expected by Q4 2023, residence pricing ranges from $700,000 to $4,000,000. Located at 340 W 42nd Street, 42 Pine sales and marketing is managed exclusively by Mushka Jacobson with Douglas Elliman. For additional information, or to schedule a tour of the sales gallery, please visit 42pine.com.
