Cove Miami Financing: SB Development and Hazelton Secure $170M for Edgewater Luxury Condos

New York-based SB Development Group and Hazelton Capital Group have closed on $170 million in construction and land financing for Cove Miami, a 40-story luxury condominium rising in Miami’s serene Edgewater district. The loan was provided by Bravo Property Trust, the bridge and construction lending platform affiliated with Bravo Capital.

A Milestone for Cove Miami

“Securing this financing marks another significant milestone in Cove Miami’s development saga. With Bravo’s financial support, we are excited to continue developing this truly one-of-a-kind luxury development,” said Joseph Stern, Co-Founder and Principal at SB Development Group. He highlighted Edgewater as one of Miami’s most understated yet dynamic neighborhoods, noting that the project will raise the area’s reputation as a premier luxury market.

Bravo Property Trust’s Role

Since its launch in 2021, Bravo Property Trust has originated over $1.8 billion in financing, establishing itself as a reliable lender for large-scale residential and mixed-use projects. According to Aaron Krawitz, Founder and CEO of Bravo Capital, the partnership reflects Bravo’s focus on ambitious sponsors delivering quality projects.

“SB Development and Hazelton’s vision for Cove Miami perfectly reflects that drive,” said Krawitz. “They are bringing a top-tier luxury product to Edgewater at a time when supply in the $1 million to $2 million range is limited, while demand for well-located, high-end residences continues to grow.”

Luxury Living on Biscayne Bay

Cove Miami will offer a curated collection of 134 residences designed by world-renowned architectural firms Kobi Karp and Dieguez Fridman. The one- to four-bedroom homes will feature floor-to-ceiling windows, wrap-around terraces, and natural design elements, connecting residents with the surrounding Biscayne Bay waterfront.

The property will feature a wide array of luxury amenities, including:

• An infinity pool with private cabanas 
• A Tranquility Spa with hammam, cold plunge, sauna, and massage rooms 
• State-of-the-art fitness center, yoga areas, and rooftop lounge 
• Private dining with chef’s kitchen, a Grand Theater, and a wine room 
• Dock access for water sports, a pet spa, and co-working spaces 
• Exclusive resident services like on-demand LEAA Healthcare and Zipcar car-sharing 

A Vision for Edgewater

Hazelton Capital Group’s Adam Westreich emphasized the project’s role in shaping Edgewater’s future. “Our vision is to create a residential experience that feels both elevated and authentic to the neighborhood. This development will be more than just another luxury project — it will become the pride of Edgewater.”

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