$40 Million Construction Loan Secured for Bentley Residences
Records show that City National Bank of Florida provided the mortgage. The financing is for pre-development expenses related to the planned 216-unit luxury tower at 18401 Collins Avenue.
The Sunny Isles Beach-based development company, run by Gil Dezer, just unveiled a $10 million sales center with a scale model of a 6,000-square-foot condo at Bentley Residences. For apartments facing the Intracoastal Waterway, prices vary from $5 million to almost $6 million. Units with a view of the ocean start at $7.2 million. The penthouses will cost between $57 million and $75 million.
Bentley Motors and Dezer collaborated to create their first residential building ever constructed. According to a press release, the 61-story Bentley Residences will have a "Dezervator" auto elevator in the middle of the structure. Each luxury unit will include a three or four-car garage with electric vehicle charging outlets.
According to records, a Dezer affiliate paid $6.8 million in 1996 for the 3.6-acre property, which includes a five-story hotel bearing the Wyndham name. The 180-key building's demolition is anticipated to begin in the first quarter of 2019, with a 2026 completion date for the project as the goal.
Dezer is transforming the North Miami Beach Intracoastal Mall into the $1.5 billion mixed-use Uptown Harbour project. The expansive development, which spans over 30 acres and includes 2,000 residential units, 575,000 square feet of retail and office space, 250 hotel rooms, a port, and a central park, was given initial approval by the North Miami Beach City Commission in 2020.
Bentley Residences will be Dezer's second opulent residence with a modern vehicle lift. The first was the Porsche Design Tower, a 2016 completion of a 60-story luxury brand high-rise in Sunny Isles Beach.