The Bank condominium expected to be completed by summer
By Deserae del Campo
The Bank, a 79-loft condominium at 8101 Biscayne Blvd., is close to completion with 77 units under contract.
James Goldstein, president of Midgard Development Group, purchased the building, once home to Miami National Bank, in 2003 for $3 million.
"The building was first built circa 1955 into a two-story bank," said Daniel Goldstein, Midgard sales and marketing director. "In 1964, construction expanded the building into six stories, turning it into a multi-tenant office building."
Midgard received building and demolition permits to renovate the interior in August 2005.
"Construction is in full swing and should be completed by summer of 2006," said Daniel Goldstein. "Two penthouse lofts are still available. One is facing the bay and Miami Beach and the other is facing the west. Both penthouse lofts are 1,400 square feet and going for $509,000 and $469,000."
Contracts with 20% down payment have been signed for 77 of the 79 lofts, he said.
The top floor includes rooftop amenities with an open sundeck, lounge chairs and multiple hot tubs.
The Bank also has over 15,000 square feet of first-floor retail space. The 5,000-square-foot restaurant space was sold to a very reputable local restaurateur, Mr. Goldstein said, leaving over 10,000 square feet available at $300 per square foot.