LOCATION: North Miami Beach, Florida
Located in North Miami Beach, Marina Palms consists of two 25-story residential towers adjacent to a full-service,110-slip private marina. The complete 14.66-acre property includes full frontage along Maule Lake, the Intercoastal Waterway and Biscayne Boulevard.
Other features include two- and three-bedroom residential units with balcony areas; common areas, including a clubhouse, business center, mailroom, children’s center and fitness studio; a third-floor pedestrian bridge; and a five-level, 431-space concrete parking structure.
Acting as the bank’s representative to review construction status and applications for payment, Marx|Okubo has seen Marina Palms through challenges related to the economic downturn.
After purchasing the property from the lender, the current developer has made minimal modifications while reusing the existing foundations prepared for the north tower and its adjacent parking structure, as well as repurchasing and using the precast concrete parking structure components.