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Berkadia Secures Financing to Construct Luxury Condos in Downtown Miami

Berkadia helped finalize an $80.924 million construction loan to build 501 First Residences, a 448-unit luxury condominium high-rise building in Miami. Managing Director Scott Wadler, Senior Managing Director Mitch Sinberg, Senior Director Matt Nihan and Senior Analyst Michael Basinski of Berkadia Miami brokered the financing on behalf of Aria Development Group and AQARAT, with Bank OZK providing the funding for the 42-month, full-term interest only loan at an aggressive floating rate.

Located at NE First Avenue close to the Adrienne Arsht Center, 501 First Residences will offer studio, one- and two-bedroom units ranging from 603 to 1,015 square feet. Amenities will include a lap pool, a private club suite with game tables, an entertainment chef’s kitchen, a media room and library, a state-of-the-art indoor gym with private training rooms, a sunrise terrace, private rooftop movie theater, an outdoor game lawn, coworking boardrooms with smart technology, pet bath stations, valet service and secure bicycle storage.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.