Forté Development Lands $48M Loan for a Lux Jupiter Condo Complex

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Forté Development raised $47.5 million to build a luxury waterfront condo development in Jupiter, Fla.

The financing from New York-based 360 Capital Funding will go toward Forté Luxe, a three-story, 17-unit waterfront complex with 13 boat slips at 12450 SE Crystal Cove Place, just east of Highway 1, facing an inlet near the south end of Jupiter Island. 

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Construction, now underway, is expected to be completed in the fourth quarter of 2025. Condos will range from 3,550 to over 5,000 square feet, with prices starting at $4.35 million. Douglas Elliman is the broker. 

Michael and Jordan Horowitz of Cooper Horowitz arranged the debt. 

Despite a slowdown in the debt market, lenders are still providing financing for luxury South Florida condo projects, typically after they hit a certain pre-sales benchmark. A representative for Forté did not immediately provide sales figures. 

Last month, a PMG-led joint venture secured $668 million — South Florida’s largest construction loan — to complete the Waldorf Astoria Hotel & Residences Miami. Other major construction financings that have closed this year include Related Group’s $400 million loan for a luxury condo on Fisher Island and a $328 million loan for the Baccarat Residences condo tower in Brickell.

Julia Echikson can be reached at jechikson@commercialobserver.com.