13th Floor Secures $105M Loan for Casa Cipriani Miami Beach Project

• $105 million refinance backs a luxury condo and hotel project
• Oceanfront site on Collins Avenue near the Faena District
• New Florida law helps unlock redevelopment of older buildings

What 13th Floor is developing on Collins Avenue

Arnaud Karsenti is pushing forward a branded luxury project under the Casa Cipriani name in Miami Beach. The plan calls for a 19-story building with a mix of hotel rooms and condo units on a 1.1-acre oceanfront site. The property sits in Mid-Beach, one of the most active luxury corridors in South Florida. 13th Floor Investments and Midtown Equities acquired the site for $73 million, positioning it for a high-end repositioning play rather than a ground-up land buy.

What the financing signals for luxury development

The $105 million loan from BH3 Management is a refinance that expands an existing loan originally issued by Bank OZK. This move shows that lenders are still willing to back well-located luxury projects, even as capital markets remain tight. Miami Beach continues to stand out as a market where trophy assets can secure financing. For developers, this kind of structure provides flexibility to move projects forward without needing to fully recapitalize with equity.

What the Casa Cipriani brand means for pricing power

Casa Cipriani is not just a name. It is a luxury hospitality brand tied to private clubs, hotels, and high-end experiences.

Branded developments like this typically:

• Attract global buyers
• Command a higher price per square foot
• Create built-in demand from lifestyle-driven investors

This gives the project a competitive edge in a crowded luxury condo market.

What the new Florida law means for redevelopment

The project also benefits from the Resiliency and Safe Structures Act, which allows older oceanfront buildings to be demolished if they are considered unsafe. This law reduces restrictions tied to historic preservation and opens the door for developers to replace aging properties with higher-value assets. In this case, it allowed 13th Floor to move forward with plans that may have otherwise faced delays or redesign.

What this means for Miami Beach investors

Miami Beach continues to attract capital for branded, ultra-luxury developments in prime locations. With limited oceanfront land and strong demand from international buyers, projects like Casa Cipriani are positioned to achieve premium pricing. For investors and landlords, the trend is clear. Older properties along the coast are becoming prime targets for redevelopment into luxury assets that generate stronger long-term returns.