Macken Companies secures $16.5 million construction loan for luxury waterfront townhouse community of Koya Bay on the Intracoastal Waterway in North Miami Beach
Macken Companies, a vertically integrated real estate company with development, construction and brokerage entities, has secured a $16.5 million construction loan from LV Lending for Koya Bay, a luxury townhouse community in Waterfront directly on the Intracoastal Waterway in the exclusive Eastern Shores neighborhood at 4098 NE 167 St. in North Miami Beach. Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending arranged the loan on behalf of the promoter, Alan Macken, director of Macken Companies. The closing took place on July 28. Macken Companies’ subsidiary, VCM Builders, is the general contractor and Macken Realty is the exclusive sales agent. The project started in February 2022 and is on schedule for delivery in the first quarter of 2023.
“LV Lending has been a terrific financial partner for us,” said Alan S. Macken, Principal, Macken Companies. “We appreciate their enthusiasm and confidence in our execution to ensure its success. We look forward to delivering this beautiful community to our buyers and the City of North Miami Beach.
Koya Bay features 10 four-story residences, each with a private elevator, expansive rooftop terrace, and two-car garage with optional elevator. The gated community offers three-, four-, and five-bedroom floor plans ranging in size from 4,327 to 5,288 square feet. The landing stages are equipped with water and electricity.
Koya Bay’s prime cul-de-sac location is buffered by water on three sides, providing direct, unobstructed views of the Intracoastal Waterway. The development is a boater’s paradise with no fixed bridges located minutes from the Haulover Cut, Sandbar and ocean.
Macken Companies has once again teamed up with esteemed Randall Stofft Architects and Witkin Hults + Partners to design modern tropical townhouses that blend natural materials and earth tones with open floor plans designed to invite the front of sea at each level. Residences feature raised ceilings, Wolf appliances, custom wood cabinetry, and smart home technology. The private roof terraces combine both an enclosed air-conditioned space and an open space and are equipped with a Jacuzzi and a summer kitchen.
The affluent, family-friendly neighborhood of Eastern Shores is a guarded community with 24/7 police security, its own park and playground. Residents will enjoy an abundance of amenities and amenities, including steps from pristine Sunny Isles Beach and beautiful Oleta River State Park, a 1,043-acre Florida state park on the Biscayne Bay directly across, with mountain bike trails, running tracks, kayaking, and fishing.
Eastern Shores is accessible via the 163rd Street Causeway, which connects to US-1 and A1A. The city of North Miami Beach is located 20 km north of Miami and less than 32 km south of Fort Lauderdale. Koya Bay is a short drive or boat ride from the beach, Haulover Marina which offers ocean access and two of Florida’s premier shopping destinations, the Aventura Mall and the legendary boutiques of Bal Harbor.
There is a limited inventory left. For pricing and more information, call (844) 278-4430 or visit http://www.koyabay.com.
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