Elysee Miami closes on $138M construction loan

With vertical construction now underway, the 57-story waterfront tower is slated for completion in 2020. 

South Florida-based Two Roads Development has secured $138 million in construction financing from JPMorgan Chase Bank, National Association for the development of Elysee, the firm's newest Miami luxury condominium project located along Biscayne Bay at 788 NE 23rd Street in Downtown's East Edgewater neighborhood. The loan will fuel the ongoing vertical construction of the 57-story waterfront tower, which is scheduled to be completed in 2020.

The loan comes as the development approaches the 50 percent sold mark, with unit sales representing more than $100 million in total transaction value. Vertical construction of Elysee commenced last month following the completion of the tower's major foundation pour of more than 5,000 tons of cement for the building's concrete mat.

The 100-unit boutique-style project is being developed by Two Roads Development in partnership with entities managed by New York-investment firm DW Partners.

Two Roads Development co-developers, Taylor Collins; James Harpel; and Reid Boren

Designed by legendary architect Bernardo Fort-Brescia of Arquitectonica, Elysee's striking three-tiered telescoping shape will provide direct 180-degree bay and city views from every residence. The tower's elegant design concepts are the creation of Paris-based designer Jean-Louis Deniot, one of the world's preeminent talents in interior design, who has imagined the building's common area amenity spaces for his first high-rise condominium design project in the U.S.

Priced from about $1.5 million to upwards of $10 million, Elysee's half-floor and full-floor residences range from three- to five-bedroom layouts measuring between 2,300 and 4,000 square feet in size.

Exclusive amenities will include access to the building's 30th floor Owners' Sky Lounge, home to a Grand Salon lounge and bar area, a Grand Dining Room and professional-grade chef's kitchen, a library, a private theater, and a wine room. Residences will feature private elevators and foyers, soaring 10- to 12-foot ceilings, and expansive east- and west-facing terraces where residents can enjoy unparalleled sunrise and sunset views.

For more information about Elysee, including preconstruction sales opportunities, please contact Cervera Real Estate at 305.767.1414 or visit the project's sales gallery at 254 NE 30th Street in Miami, FL. Click here to learn more.

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