JDS secures $137M construction loan for South Beach condo

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JDS Development has secured a $137 million construction loan for a South Beach condo project called Monad Terrace, according to The Real Deal.

The financing for the 59-unit project at 1300 Monad Terrace was provided by New York-based Madison Realty Capital. Units range from about 1,500 sq. ft. to 5,350 sq. ft. The building will feature climbing gardens, reflecting pools and large terraces overlooking the bay.

Construction is expected to begin in a couple of weeks and will be completed by the fall of next year.

The construction financing was first reported by Bloomberg.

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