VDA Origin Secures $30.5M Loan for Bay Harbor Islands Condos

Chilean developer VDA Origin | Miami recently secured a $30.5 million construction loan from New York’s S3 Capital, led by Joshua Crane and Robert Schwartz. This loan supports the construction of the luxury condo project, Origin Residences by Artefacto, in Bay Harbor Islands.

VDA Origin acquired the waterfront site at 9760 West Bay Harbor Drive in 2021 for $4.5 million. In 2023, the developer launched sales and quickly sold 74% of the 27 units, according to Cervera Real Estate, which handles sales and marketing.

The seven-story building will offer condos ranging from 2,135 to 2,200 square feet, with prices between $3.8 million and $4.5 million. Residents will enjoy luxury amenities such as a rooftop pool deck, club room, fitness center, coworking space, resident lounge, and 10 private marina slips.

Miami’s Revuelta Architecture International designed the project, while Brazilian luxury brand Artefacto, led by CEO Paulo Bacchi, is furnishing the units and common areas. Artefacto also lends its name to the development.

Construction began in April 2025 and is slated to finish by 2026. VDA Origin’s commitment to quality is clear, and the project adds to Bay Harbor Islands’ growing reputation as a prime luxury condo market.

Bay Harbor Islands’ Growing Condo Market

Bay Harbor Islands continues to attract developers. For example, Miami’s Regency Development Group is building three condo projects: La Maré Bay Collection, La Maré Regency, and La Maré Signature. Brooklyn-based Redhoek+ launched Pool Haus, its second Bay Harbor project, in October.

Also, CMC Group and Morabito Properties recently completed the 41-unit waterfront Onda Residences, which had a sellout of around $170 million.

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