An affiliate of Allure Development Group obtained a $16.5 million construction loan to finish work on a Bay Harbor Islands condo project that has taken a while to complete.
Construction Loan Services II provided the mortgage to BHI The Club 2 LLC, managed by Nicolas Livsit and Oscar Acosta of Katy, Texas-based Allure Development. It covers the 21,675-square-foot site at 1055 and 1047 92nd St., which is not on the water. It was approved for 26 condos in seven stories in 2016.
The developer acquired the property for $4.4 million in 2016 and filed a notice of commencement for construction in 2019 with St. Petersburg-based Kurt Knuth Construction Co. as the general contractor.
I think this time it will get completed.
Seeking to buy a condo in this complex, i can get you first price from the builder asap.
Сall me now 786-942-0502!
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