38 West Eleventh Residences Miami, a 44-story, 659-condominium tower rising in Park West, recently secured a $215 million construction loan.  

GoldenTree Asset Management provided the financing to the project’s developers: PMG, Lion Development Group and Marc Roberts Companies. 

38 West Eleventh is situated at 38 Northwest 11th St. and is 99% sold. The fully furnished luxury residences will be available for short-term rentals and can be listed 365 days a year on Airbnb. Construction is scheduled to wrap up in the first quarter of 2028. 

Once open, the community will offer over 20,000 square feet of amenities, including a rooftop pool, signature supper club, private lounge areas and fitness centers. It will also feature a 30,000-square-foot, tri-level “experiential entertainment venue” that will integrate with the local entertainment district. 

“Miami’s ongoing transformation into a truly unparalleled culinary, entertainment and residential destination makes it the perfect location for a development such as 38 West Eleventh Residences,” Lion Development President and CEO Michael Simkins said in a press release. “Not only does this project embody Park West’s spirit, but it deftly complements its lively live, work, play atmosphere to create a wholly dynamic living experience.” 

Sieger Suarez Architects is the architect, while Cotofana Designs is the interior designer. PMG Residential is handling all sales, while John Moriarity & Associates is the general contractor.