The Lincoln Coconut Grove, a 48-residence boutique condominium at 2650 Lincoln Avenue, has secured $58 million in construction financing as work moves forward. The project is targeting completion in the third quarter of 2028 and has already surpassed 40% in sales, signaling strong interest in new luxury housing in Coconut Grove.
Key takeaways
- Berkadia arranged a 30-month construction loan provided by SME Capital.
- The financing includes two six-month extension options.
- LORE Development Group and Element Development are leading the project.
- One Sotheby’s International Realty is handling exclusive sales and marketing.
- The condominium has 48 residences and is more than 40% sold.
The financing gives the development team capital to advance construction on a project positioned around boutique scale, high-end design and a lifestyle-focused amenity program. The loan was arranged by Berkadia’s Miami team, including Managing Director Scott Wadler, Vice President Bobby Dockerty and Senior Managing Directors Mitch Sinberg, Matt Robbins and Brad Williamson.
Construction financing supports project momentum
The loan arrives as The Lincoln moves from planning into active construction. Its 30-month term, along with two potential six-month extensions, provides flexibility through the building process. The development is a joint venture involving LORE Development Group—formed by Leste Group and Opportunity Fundo de Investimento Imobiliário—and Element Development.
Berkadia representatives pointed to Coconut Grove’s limited supply of boutique condominium inventory, strong buyer interest and established residential appeal as factors supporting the financing. The project’s sales progress further underscores demand for smaller, design-oriented developments in the neighborhood.
Residences emphasize space and customization
The Lincoln will offer one- to four-bedroom homes, including six penthouses. The largest penthouses will span as much as 3,633 square feet. Planned residential features include private balconies, flexible dens, large walk-in closets and custom Snaidero kitchens.
Kitchen packages are designed with quartz countertops and integrated Miele appliances, including a wine refrigerator, induction cooktop, wall oven, microwave and speed oven. Bathrooms are planned with marble countertops, premium fixtures, floor-to-ceiling shower glass and Toto toilets.
Wellness and rooftop amenities anchor the design
Amenities are intended to combine wellness, recreation and social spaces. Residents will have access to a sauna, steam room, hot and cold plunge pools, a fitness center, golf simulator, co-working lounge and media area. The property will also include a private dog park and pet-grooming room.
A heated, 40-foot rooftop pool will overlook the bay and Miami skyline. The rooftop is planned to include cabanas, an outdoor yoga and meditation area, lounge seating and summer kitchens with grills. Other services include assigned and valet parking, 24-hour front-desk and overnight security, private storage and enclosed bicycle parking.
Location strengthens the project’s appeal
The Lincoln is situated near Coconut Grove’s parks, marinas, restaurants, hotels, boutiques and schools. Its location also provides access to Coral Gables, Brickell, Downtown Miami and the area’s beaches, reinforcing the project’s appeal to buyers seeking both neighborhood character and connectivity.
With construction underway, sales beyond the 40% mark and completion planned for late 2028, The Lincoln is emerging as a notable addition to Coconut Grove’s evolving luxury residential market.