13th Floor, Midtown Equities Land $105M for Miami Luxury Project
It will be the second Cipriani-branded property in the metro.
A joint venture between 13th Floor Investments and Midtown Equities has secured a $105 million loan for the development of Casa Cipriani, a luxury condo and hotel project in Miami Beach, Fla., according to Commercial Observer.
BH3 Management provided the funds that increase an existing loan by $55.5 million, according to the same source. Bank OZK had issued the original construction note in 2023 and its outstanding balance amounted to $49.5 million at the time of closing the current deal.
This will be the second Cipriani-branded development in metro Miami. The first one is Cipriani Residences Miami, an 80-story condo tower in the city’s Brickell neighborhood, scheduled to open in 2028. In 2024, Mast Capital secured a $600 million construction loan for the project, being at the time the largest single-tower residential construction financing in Florida’s history.
Casa Cipriani, up close
Casa Cipriani will rise 19 stories on 1.1 acres between 3621 and 3611 Collins Ave., in the Mid-Beach neighborhood. The joint venture acquired the site, which houses two obsolete hotel structures, for $73 million in 2023.
Initial plans for Casa Cipriani were unveiled in March 2025 and received the local authorities’ approval in May 2025. At the time, this was the first condo project in Miami to utilize the Florida Resilient Safe Structures Act. The bill allows the demolition of the existing structures.
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Brandon Haw Architecture designed the building that will comprise 23 condominiums and 36 hotel rooms. Apartments will feature 10-foot ceiling heights, sliding doors, direct elevator entries for select residences and Italian cabinetry inspired by Cipriani’s style, among others.
Amenities will include a swimming pool, a spa center with sauna and treatment rooms, a resident lounge, a fitness center, a library, a children’s playroom, EV charging stations and storage rooms. A range of services will be available at the property, such as signature dining experiences by Cipriani, catering services and a private members’ club.
The site is close to Interstate 195, allowing easy access through Miami metro. Downtown Miami and the city’s international airport are both 10 miles away.
Miami condo sector’s strong momentum continues
The Miami condo market currently has multiple projects in its development pipeline.
One of them, also rising in Miami Beach, is a development by Constellation Group, The Boschetti Group and Vietmar. The 103-unit building topped out in March and completion is scheduled for early 2027.
Another project is the 70-unit Four Seasons Private Residences, under construction in Coconut Grove, Fla. CMC Group and Fort Partners obtained a $323.8 million loan from Bank OZK for this development.
