Alan Faena launches Miami River towers: $817M loan, 434 units, 2030 delivery

Developer Alan Faena announced two 68-story residential towers on the Miami River, backed by an $817 million construction loan, with nearly half of 434 apartments pre-sold including a $30 million penthouse. The project signals continued strength in Miami's luxury real estate market despite high interest rates, though delivery is not expected until 2030, leaving execution and market risk.

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