42 Pine, a boutique residential building at Pine Tree Drive and 42nd Street in Miami Beach, recently secured $35.5 million in financing from BridgeCity Capital to begin construction on the project, which has sold 50% of its residences sold since sales launched.
“This construction loan posed a unique opportunity for BridgeCity Capital to finance a ground-up, luxury condominium building in the heart of Miami Beach,” Allan Lebovits says, 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 full-service boutique condominium will provide one to three bedrooms, including eight penthouses. Each residence in the eight-story building is crafted to deliver a bespoke lifestyle rooted in community and convenience. The architecture and interiors were designed by the renowned firm Arquitectonica. Each unit spans 700 square feet to 2,700 square feet for combined units to maximize space and build a connection to the outdoors. They also feature sweeping floor-to-ceiling windows and doors, allowing abundant natural light. Private terraces with glass railings provide a seamless indoor/outdoor living experience.
Residents will also enjoy various resort-style amenities and services for every age. The curated indoor and outdoor spaces include an amenity deck with a 52’ pool, relaxation spa, cabanas and poolside service, and a yoga and meditation lawn 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 playroom. A dedicated team, including a concierge, doorman, valet and porter service, is available for residents.
Located in one of the most sought-after residential neighborhoods in Miami Beach, 42 Pine residents can enjoy access to the beach, top-rated schools, fine dining and boutique shopping, all within walking distance.
Completion of the project is expected by Q4 2023. Residence pricing ranges from $700,000 to $4 million. 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 or call 786-761-1149.