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Deals & Dealmakers

Macken Companies Secures $16.5 Million Construction Loan for Koya Bay Luxury Waterfront Townhome Community on the Intracoastal Waterway in North Miami Beach

Macken Companies, a vertically integrated real estate firm with development, construction, and brokerage entities, has secured a $16.5 million construction loan from LV Lending for Koya Bay, a luxury waterfront townhome community directly on the Intracoastal Waterway within the exclusive neighborhood of Eastern Shores at 4098 NE 167 St. in North Miami Beach. Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending arranged the loan on behalf of the developer, Alan Macken, principal of Macken Companies. Closing took place July 28th. Macken Companies affiliate VCM Builders is the general contractor and Macken Realty is the exclusive sales agent. The project broke ground in February 2022 and is on schedule for delivery Q1 2023.

“LV Lending has been a terrific financial partner to us,” stated Alan S. Macken, principal, Macken Companies. “We appreciate their enthusiasm and confidence in our execution to ensure its success. We look forward to delivering this beautiful community to our buyers and the City of North Miami Beach.”

Koya Bay features 10 four-story residences, each with a private elevator, expansive rooftop terrace and two-car garage with optional car lift. The gated community offers three, four and five-bedroom floorplans ranging in size from 4,327-5,288 square feet. Boat slips are outfitted with water and electricity.

Koya Bay’s prime cul-de-sac location is buffered by water on three sides, providing direct and unobstructed views of the Intracoastal Waterway. The development is a boater’s paradise with no fixed bridges situated just minutes away from the Haulover cut, sandbar and ocean.

Macken Companies once again teamed up with the esteemed Randall Stofft Architects and Witkin Hults + Partners to design tropical modern townhomes that blend natural materials and earth tones with open floor plans designed to invite the waterfront into each level. Residences feature elevated ceilings, Wolf appliances, custom wood cabinetry and smart home technology. Private rooftop terraces combine both enclosed air-conditioned space with open area and are equipped with a jacuzzi and summer kitchen.

The affluent and family-friendly Eastern Shores neighborhood is a guard-gated community with 24/7 police-manned security, its own park and playground. Residents will enjoy an abundance of conveniences and amenities, including being steps from the pristine Sunny Isles Beach and having the beautiful Oleta River State Park, a 1,043-acre Florida State Park on Biscayne Bay just across the street, with mountain bike trails, running paths, kayaking and fishing. 

Eastern Shores is accessed via the 163rd Street Causeway, which connects to US-1 and A1A. The City of North Miami Beach is centrally located 12 miles north of Miami and less than 20 miles south of Fort Lauderdale. Koya Bay is just minutes away by car or boat from the beach, Haulover Marina which provides ocean access, and two of Florida’s premier shopping destinations, the Aventura Mall and legendary Bal Harbour Shops.

Limited inventory remains. For pricing and more information, call (844) 278-4430 or visit http://www.koyabay.com.

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