The demo is nearing an end. The last wall fell on this video. I'm kind of sad to see this building demoed because of its age and historical value , but 501 First will be a good addition for the lot.
448-Unit Downtown Miami Luxury Condo Tower Gets $81M Construction Loan
Quote:
The developers of 501 First Residences have been issued a construction loan.
501 First is planned to include 448 luxury condos, without a parking garage.
Berkadia arranged the $80.924 million loan.
Managing Director Scott Wadler, Senior Managing Director Mitch Sinberg, Senior Director Matt Nihan and Senior Analyst Michael Basinski of Berkadia Miami secured the financing on behalf of Aria Development Group and AQARAT.
Financing was issued by Bank OZK, with 42-month interest only floating rate loan.
Demolition has already been completed at the site.
No parking podium is a definite plus for this one.
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, but 501 First will be a good addition for the lot. 
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