Berkadia Arranges $84 Million Construction Bridge Loan For Luxury Apartments In Flagler Village

Berkadia has arranged an $84 million construction bridge loan on behalf of Midtown Capital Partners to complete Astor Park Flagler Village, a 252-unit, mid-rise luxury apartment community located in Fort Lauderdale’s highly sought-after Flagler Village neighborhood.

Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler, Matt Robbins, and Brad Williamson, and Vice President Patrick Johnson of Berkadia Florida secured the financing on behalf of the sponsor, Midtown Capital Partners – a vertically integrated real estate investment advisor, operator, and developer with a diversified portfolio across the United States and Spain.

The transaction closed on December 23, 2025.

BridgeInvest provided the floating-rate bridge loan which will be used to refinance the property’s existing construction financing and fund remaining completion costs for the project, which topped out in October 2025 and is expected to deliver in mid-2026.

“Midtown Capital has navigated the market and positioned Astor Park to capitalize on improved multifamily valuation and fundamentals in one of South Florida’s strongest urban submarkets,” said Wadler. “Flagler Village continues to attract strong renter demand, and this financing provides Midtown Capital with the flexibility and runway needed to deliver and stabilize this centrally located, high-quality asset.”

Located at 333 NE 6th Street, Astor Park Flagler Village is a 12-story, two-tower mixed-use development situated on a 1.42-acre site. Upon completion, the community will offer 252 market-rate rental residences ranging from 594-square-foot studios to 1,735-square-foot penthouses, along with four live-work units on the ground floor.

Amenities will include a resort-style rooftop pool with skyline views, bar and resident lounge, dog park, and dedicated coworking and resident workspaces. The ground floor will also feature 2,389 square feet of retail space, while the structured parking podium will provide 318 garage parking spaces.

The property occupies a prominent location at the northeast corner of Sistrunk Boulevard and NE 3rd Avenue, adjacent to Peter Feldman Park and within walking distance of the Brightline station, Las Olas Boulevard, and downtown Fort Lauderdale, positioning Astor Park at the heart of one of the city’s most dynamic and transit-oriented neighborhoods.

“South Florida is entering a phase where supply and demand are normalizing, which underscores the importance of disciplined underwriting,” said Jon Gitman of BridgeInvest. “We continue to deploy capital in high-growth submarkets like Flagler Village, where renter demand, urban connectivity, and long-term fundamentals remain compelling. In the case of Astor Park, the project’s location, quality, and the strength of the Midtown Capital team aligned well with our financing strategy.”