Trinity Southern scores construction loan for boutique luxury condos near Faena District 

Trinity Southern landed a $19.5 million construction loan for a boutique condo project in Miami Beach near the Faena District.

S3 Capital provided the financing for 29 Indian Creek as presales surpassed 70 percent, according to a press release from Serhant. The brokerage’s new development division is leading sales for the project at 2901 Indian Creek Drive. CBRE’s AJ Bruno and Drew Anderman arranged the financing. 

Construction, which began earlier this year, hit the 25 percent progress mark. The development is expected to be completed in 2027, according to the release. Sales launched in March 2025. 

The project will include 14 one- to three-bedroom condos and two two-story townhomes. The units range from 840 square feet to more than 4,400 square feet, with prices starting at $1.5 million to over $8 million. 

Records show New York-based JMH Development’s Jason Halpern transferred ownership of the 15,000-square-foot property at 2901 and 2911 Indian Creek Drive for $8 million on the same day the construction loan closed. JMH is still a partner in the development, according to information provided by Trinity’s Bill Lozito via a spokesperson. 29 Indian Creek marks the first South Florida development for New York-based Trinity, led by Bill and Dana Lozito, which bought into the project for an undisclosed amount in September 2025. 

The 0.3-acre site last sold in 2017 for $7.8 million. Halpern’s JMH was tied up in litigation with former partners, who included investor Dhruv Piplani. In 2022, a judge in New York dismissed the lawsuit filed by Piplani’s PSB Indian Creek and affiliated entities, allowing JMH to move forward with the project. 

The construction loan for 29 Indian Creek comes as developers face higher borrowing costs following the Federal Reserve’s latest interest rate hike, adding to the challenges developers have been dealing with.

The project’s architecture, interiors and landscape are designed by Urban Robot. The two townhomes will each have a 500-square-foot private terrace with a summer kitchen and wet bar.

Amenities will include a rooftop pool deck, fitness center, infrared sauna, cold plunge and 24-hour concierge service, along with on-site valet parking. Some owners will also have access to membership at the Beach Club at the Miami Beach Edition, which offers resort amenities including oceanfront lounge chairs, cabanas, spa and fitness facilities, and dining.

The development is a few blocks away from Len Blavatnik’s Faena District, a luxury complex that includes the Faena House condo building and Faena Hotel Miami Beach, both developed with Alan Faena. Aman Residences, developed by Vlad Doronin and backed by Blavatnik, is under construction in the district.

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