S3 Capital has originated a $67 million construction loan for Tula Residences, a 21-story, 54-unit luxury condominium tower rising at 7918 West Drive in North Bay Village, Miami.
As the first new development on Harbor Island, Tula Residences represents a bold step in redefining waterfront living in this emerging neighborhood. The project is being developed by Bayshore Grove Capital, led by Vivian Dimond, a veteran South Florida real estate sponsor.
Steven Jemal, S3’s managing director of origination who led the closing noted, “North Bay Village is a market we know well, and the fundamentals here are strong. With an experienced local sponsorship group, Tula Residences stands out as a well-positioned development in one of Miami’s most dynamic waterfront neighborhoods.”
Tula Residences is set on a prime waterfront site in North Bay Village, offering panoramic views of Biscayne Bay and the Miami skyline. The building will feature spacious two- and three-bedr
