Berkadia Arranges $36.64M Financing for Luxury Waterfront Condo Project in Palm Beach County
Miami, Florida – August 11, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announces that it secured a $36.635 million loan on behalf of joint venture partners JSB Capital Group and Johnston Group Capital Management for HAVN Residences & Yacht Club, a boutique waterfront residential community consisting of 36 luxury condos overlooking the Intracoastal Waterway in Palm Beach Shores, Florida.
The financing was arranged by Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler, Brad Williamson, Matt Robbins, and Director Mike Basinski of Berkadia’s Miami and Boca Raton offices. Bank Hapoalim provided the loan, supporting the project’s final phase of execution.
The new financing marks a significant milestone in the transformation of HAVN Residences & Yacht Club. After acquiring the property for $58.5 million in 2023, the development team made a strategic decision to elevate the offering to a true luxury standard. The loan proceeds will fund the completion of the final phase of the project, including the remaining interiors, refined landscaping, and elevated exterior finishes, along with curated final touches that enhance the overall sense of luxury, exclusivity, and design continuity throughout the property — further positioning HAVN as one of the top-tier waterfront offerings in the market.
Located at 184 Lake Drive on the southern tip of Singer Island, HAVN Residences & Yacht Club is a boutique waterfront community consisting of five mid-rise buildings with 36 two- and three-bedroom residences. Each unit offers private elevator entry, expansive terraces, hurricane-impact glass, and sweeping views of the Intracoastal Waterway – With 24 of the 36 residences featuring direct, unobstructed water views.
Interior renovations are nearly complete, with 30 of 36 residences fully upgraded to luxury condo specifications. Units feature wide-plank flooring, brand-new bathrooms and kitchens, custom shaker-style cabinetry, Quartz countertops, Sub-Zero® and Wolf® appliances, and dedicated wine storage. Five residences have already been sold, and the remaining inventory is set to hit the market ahead of the upcoming season. Prices range from $1.25 million to $3.5 million. The Murray Group at Compass Real Estate is handling sales from the on-site sales center in the model residence, artfully designed by the renowned firm Interiors by Steven G.
Community amenities include a resort-style pool, spa, fire pit, outdoor kitchens with gas BBQ grills, a fully equipped fitness center, private beach access, and secure controlled entry. Just steps away, the 54-slip full-service marina offers the ultimate waterfront lifestyle — with priority leasing access available exclusively to HAVN condo owners. Slips accommodate vessels up to 150 feet, making HAVN an unmatched opportunity for boaters and waterfront enthusiasts alike.
“This financing positions us to further enhance HAVN Residences & Yacht Club as we complete the final phase of the project,” said Jo Rousseau, Vice President at JSB Capital Group. “We’re grateful for Berkadia’s partnership and excited to deliver a boutique waterfront product that combines luxury finishes, marina access, and unobstructed views in one of South Florida’s most sought-after coastal communities.”
“HAVN Residences is exactly what buyers are looking for in South Florida – brand new finishes on the water with immediate access to a full-service marina,” said Sinberg. “This product is in high demand because it feels like new construction, but without the wait or uncertainty of getting completed before buyers are able to move in.”
Ideally located just 20 minutes from West Palm Beach, Palm Beach Island, and Palm Beach International Airport, HAVN Residences & Yacht Club delivers a rare blend of coastal luxury, boating convenience, and boutique living in one of South Florida’s most desirable waterfront communities.
Wealthy businessman buys marina next to his home for $25M | South Florida Business Journal
South Florida Deal Sheet | Bisnow
Joint Venture Scores Loan for Final Phase of South Florida Multifamily Conversion Project | CoStar