South Florida-based Cymbal DLT Companies has secured a $27 million refinancing loan for the mixed-use retail and office building located at 3452-3470 North Miami Avenue in Midtown Miami. The property, spanning 25,000 square feet, currently houses both retail and office space. Linkvest Capital, through its lending affiliate LV Lending, provided the refinancing loan. LV Lending is a Miami-based private lender specializing in bridge financing for both commercial and residential investments.
Rendering Courtesy of Cymbal DLT
This refinancing comes at a critical time for Cymbal DLT, as it provides the firm with the financial flexibility needed to proceed with redevelopment plans for the property. The loan enables Cymbal DLT to repay an existing $19 million loan, which had been issued by New Wave in 2022. The successful refinancing sets the stage for the ambitious transformation of the site into a significant mixed-use residential tower.
The redevelopment plans for 3452-3470 North Miami Avenue call for the construction of a 35-story multifamily tower, which will include approximately 598 residential units and 20,000 square feet of retail space. This transformation is set to bring much-needed housing and retail to the Midtown area, enhancing the local urban fabric. Groundbreaking for the project is scheduled for 2026, and the development is expected to reshape the skyline and the community’s dynamic.
Arquitectonica, a renowned architecture firm, is behind the design of the new tower. The firm’s design plans for the project emphasize both modern aesthetics and functionality, ensuring that the new development will be an architecturally notable addition to the Miami skyline. The tower’s design will integrate seamlessly with the surrounding Midtown and Design District neighborhoods, bringing a new level of sophistication to the area.
A key feature of the development will be its alignment with Florida's Live Local Act, which will provide affordable housing options for residents earning at or below 120% of the area’s median income. This portion of the project aims to help address Miami's housing affordability crisis by ensuring that a range of income levels are accommodated within the new tower.
Strategically positioned between the Midtown and Design District neighborhoods, the new development will play a significant role in enhancing pedestrian activity in the area. The development includes plans for a vibrant promenade along North Miami Avenue, creating an inviting and active streetscape. Additionally, a cross-block pedestrian passage will encourage connectivity between the two neighborhoods, further enriching the area’s walkability.
In terms of location, the redevelopment site benefits from its proximity to numerous shopping, dining, and cultural establishments, making it an attractive place for both residents and businesses. The Midtown area is known for its lively atmosphere, and the addition of the 35-story tower will only amplify that energy, offering both luxury living and vibrant retail options.
For residents, the new development will provide immediate access to essential services and amenities. The site’s central location also ensures that residents will be within close proximity to major transportation routes, including I-95 and the Julia Tuttle Causeway. These transportation links offer quick access to Miami Beach and other parts of Miami, making the site highly attractive for those who work in downtown Miami but prefer to live in a more residential and dynamic environment.
The $27 million refinancing loan was a critical step in securing the financial foundation for the project, and Cymbal DLT’s plans have already drawn significant attention from industry professionals and local residents. The refinancing deal not only helps facilitate the immediate redevelopment but also signals confidence in the long-term potential of Midtown Miami.
Linkvest Capital’s involvement as the lender for this project further underscores the growing interest in Midtown Miami as a prime location for development. As a private lender with a focus on bridge financing, Linkvest Capital’s support for the project reflects the firm’s belief in the strength of the Miami real estate market, particularly in areas poised for redevelopment and transformation.
Cymbal DLT’s commitment to the area is evident in its decision to pursue a project that will not only provide residential units but also contribute to the vibrancy of the Midtown neighborhood. The development’s mix of housing and retail space is expected to revitalize the area and bring more foot traffic, benefiting local businesses and creating a more connected community.
As plans for the 35-story tower move forward, the project will continue to generate discussion among urban planners, local residents, and business owners. It represents a significant investment in the future of Midtown Miami, offering both a modern living environment and a reimagined streetscape that blends seamlessly with its surroundings.
With construction set to begin in 2026, the 3452-3470 North Miami Avenue redevelopment project is on track to become a flagship development in one of Miami’s most desirable and rapidly growing neighborhoods. The transformation of the site from its current mixed-use retail and office configuration into a modern, high-rise residential tower will mark a new chapter in the area’s evolution.
In conclusion, Cymbal DLT Companies’ securing of the $27 million refinancing loan for 3452-3470 North Miami Avenue is a major step forward in the company’s plan to redevelop the Midtown Miami property. The project promises to add much-needed residential and retail space to the area, enhancing the community’s connectivity and walkability while addressing Miami’s housing affordability challenges.