PMG Lands $93M to Build Luxe Condo in Miami’s Overtown Neighborhood

Excerpt from the Commercial Observer website: A development team led by PMG secured $92.5 million to build a luxury condo tower in Overtown, Miami’s historically Black neighborhood.

The construction financing from Maxim Capital Group will fund the 372-unit One West Twelve Residences. The development team also includes Michael Simkin’s Lion Development Group and Alex Karakhanian’s LNDMRK Development.

The 23-story project will rise at 113 NW 11th Terrace, two blocks south of Interstate 395, northwest of Downtown Miami. Construction, which got underway last month, is expected to be completed 2028. About 97 percent of the condos are already under contract, according to developers.

Read the full article here: PMG Lands $93M to Build Luxe Condo in Miami’s Overtown Neighborhood – Commercial Observer