Macken Companies Provides $16.5 Million Construction Loan for Koya Bay Luxury Waterfront Townhome Community on 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, an upscale seaside town located directly on the Intracoastal Waterway in the exclusive East Coast neighborhood. In North Miami Beach, 4098 NE 167 St. Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending arranged the loan on behalf of developer Alan Macken, who is the director of Macken Companies. The closing took place on July 28. Macken Companies subsidiary VCM Builders is the general contractor and Macken Realty is the exclusive sales agent. The project started in February 2022 and will be delivered in the first quarter of 2023.

“LV Lending has been a terrific financial partner for us,” said Alan S. Macken, Director of 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 consists of 10 four-storey residences, each with a private elevator, large roof terrace and a two-car garage with optional car lift. The gated community offers three-, four-, and five-bedroom floor plans ranging from 4,327-5,288 square feet. Boat slipways are equipped with water and electricity.

Bay Bay’s prime dead end is surrounded by water on three sides and offers direct and unobstructed views of the Intracoastal Waterway. The development is a boater’s paradise with no fixed bridges located just minutes from the Haulover cut, sand and ocean.

Macken Companies once again teamed up with esteemed Randall Stofft Architects and Witkin Hults + Partners to design tropical modern townhouses that blend natural materials and earth tones with open floor plans designed to invite all levels. Residences feature raised ceilings, Wolf appliances, custom wood cabinets and smart home technology. Private roof terraces combine both the indoor air-conditioned space with the outdoor and are equipped with a jacuzzi and summer kitchen.

The affluent and family-friendly neighborhood of Eastern Shores is a safe community with 24/7 police-managed security, its own park, and playground. Residents enjoy a lot, including being steps from pristine Sunny Isles Beach and having beautiful Oleta River State Park, 1,043-acre Florida State Park in Biscayne Bay just across the street, mountain bike trails, jogging trails. They will benefit from numerous conveniences and facilities. , canoeing and fishing.

The East Coast is accessed via 163.rd Street Crossing connecting to US-1 and A1A. The City of North Miami Beach is centrally located 20 miles north of Miami and less than 32 miles south of Fort Lauderdale. Bay of the Bay is just a few minutes’ drive or boat ride from Haulover Marina with access to the beach, ocean, and Aventura Mall and the legendary Bal Harbor Shops, two of Florida’s premier shopping destinations.

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

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