LD&D and One Capital have secured a $30.5 million construction loan for their planned Surf Row condominium project in Surfside, according to a March 20 news release. The financing was provided by New York-based Maxim Capital Group for the 24-unit complex at 8800 Collins Avenue, previously known as 8809 Harding Avenue.
The project is being developed by LD&D, led by Diego and Alejandro Bonet, along with One Capital, headed by Daniel de la Vega of One Sotheby’s International Realty. Initially launched as an eight-unit townhouse development in 2022, the partners relaunched Surf Row in 2024 with more units that are smaller and offered at lower prices.
Alfonso Jurado Architecture and Boris Pena Architects have been selected to design the building. The development will feature one- to three-bedroom units and amenities such as a fitness center, spa facilities, rooftop pool, and co-working space. Sales and marketing are being managed by One Sotheby’s International Realty, with unit prices starting at $1.4 million. Construction has already begun and is expected to be completed in 2027.
The developers purchased the non-waterfront site of approximately 0.7 acres for $7.3 million in August 2021, two months after the Champlain Towers South collapse occurred nearby at 8777 Collins Avenue.
Since then, the area has seen increased interest from luxury developers. Damac Properties from Dubai is planning a new project called Delmore on the former Champlain Towers site, designed by Zaha Hadid Architects with prices starting at $15 million. Fort Partners has also expanded its presence along Collins Avenue with several projects including Four Seasons Residences at the Surf Club and Seaway North; last year it secured significant construction loans for these developments. Earlier this month, Howard Schultz, former CEO of Starbucks, purchased a penthouse at the Surf Club for $44 million.
