Miami’s skyline is set to get another iconic addition, thanks to Royal Palm Cos. (RPC) and its CEO, Daniel Kodsi. The company is planning a new branded condo-hotel in the heart of Miami’s Arts & Entertainment District, aiming to capitalize on the city’s booming tourism and real estate market.
Securing the Future with Strategic Financing
Elevate 13th Street Holdings, a branch of RPC, recently secured an $8.36 million bridge loan to refinance its property at 1317 to 1353 N. Miami Ave. This 0.49-acre site, purchased in 2022 for $10.65 million, currently hosts commercial buildings occupied by restaurant supply businesses. With the new funding, RPC is laying the groundwork for a transformative development that could significantly boost the area’s appeal.
A Vision for a Branded Condo-Hotel
While the site is already zoned for up to 245 residential units, RPC is working closely with the city to increase this number, reflecting the ambitious nature of the project. CEO Daniel Kodsi revealed that the planned condo-hotel will be branded, catering to enthusiasts of a particular lifestyle brand.