Berkadia Secures $58M Construction Loan for Developers to Build Boutique Condominium in Coconut Grove, Florida
The Lincoln will feature 48 luxury condos in the heart of Coconut Grove
Coconut Grove, Florida – September 4, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that it has arranged a $58 million construction loan for developers to build The Lincoln, a luxury boutique condominium with 48 spacious residences in the heart of Coconut Grove, Florida. The project has begun construction and is scheduled to be completed by Q3 2028.
Managing Director Scott Wadler and Vice President Bobby Dockerty of Berkadia Miami, along with Senior Managing Director Mitch Sinberg, Matt Robbins and Brad Williamson, secured the financing on behalf of the development team: LORE Development Group (a joint venture formed by Leste Group and Opportunity Fundo de Investimento Imobiliário) and Element Development.
SME Capital provided the 30-month construction loan, which includes two six-month extension options.
One Sotheby’s International Realty is the exclusive sales and marketing broker for The Lincoln, which has surpassed the 40% sold milestone.
“The Lincoln speaks directly to the sustained demand we’re seeing from both capital providers and discerning buyers for boutique, design-forward residential product in Coconut Grove,” said Wadler. “Lenders and equity partners continue to gravitate toward experienced sponsorship delivering thoughtfully curated communities in supply-constrained submarkets like the Grove.”
Added Dockerty, “The combination of limited new boutique inventory, strong pre-development interest and Coconut Grove’s enduring appeal as a family-oriented, lifestyle-driven neighborhood created a compelling opportunity for this capitalization.”
Located at 2650 Lincoln Avenue in Coconut Grove, The Lincoln features a collection of one- to four-bedroom residences – including six stunning penthouses with up to 3,633 square feet – with in-suite dens for versatile living, spacious private balconies, expansive walk-in closets, and custom chef-inspired Snaidero kitchens.
Building amenities at The Lincoln include a luxurious mix of spa-inspired wellness areas with sauna, steam room and hot and cold plunges, a state-of-the-art fitness center, golf simulator, co-working lounge and media area, as well as an enclosed private dog park and pet grooming room.
A resort style 40-foot long heated rooftop pool and observation deck features panoramic bay and city skyline views, private cabanas, an outdoor yoga and meditation area, lounge sitting area, and summer kitchens with outdoor grills designed to foster an exclusive sense of community for residents. Additional amenities include assigned and valet parking, 24/7 front desk and night security services, private storage rooms, and an enclosed bicycle area available to all owners.
All residences feature designer kitchens with quartz stone countertops. Miele appliances include a built-in wine refrigerator, 36-inch induction cooktop, wall-mounted oven, microwave and speed oven, and an integrated refrigerator tailored to each residence. Bathrooms offer floor-to-ceiling glass shower panels, resort-inspired vanity designs, premium fixtures, elegant Toto toilets, and marble countertops.
The property is ideally situated in the heart of The Grove with easy access to beautiful parks, marinas, top-rated schools, high-end restaurants, hotels and boutiques, along with nearby Coral Gables, Brickell, Downtown, and the Beaches.