Meta Development Lands $28M to Build Boutique Miami Condos

Meta Development obtained $28 million to build a boutique condo building in Miami’s Coconut Grove neighborhood, the developer announced.

The construction financing from Arixa Capital covers Opus, a 14-unit, six-story development at 3127 Southwest 27th Avenue. More than half of the units have presold, with prices starting at  $2.8 million and floor plans at 1,900 square feet.

Construction is expected to be completed in 2027. Amenities for the Kobi Karp-designed project include a rooftop pool and lounge, a fitness center and a spa, business suites, outdoor dining areas, a children’s center and EV charging stations.

Led by Andrew Rasken, the Miami-based developer bought out an existing condo building, which dates back to 1982, two years ago to make way for the project. 

Coconut Grove, popular among wealthy families, has become a coveted neighborhood for luxury condo development. In June, Mast Capital and BH Group bought out a waterfront condo building with plans to redevelop it. Also, CMC Group and Fort Partners have partnered to launch a Four Seasons-branded condo development, The Real Deal reported. 

A representative for L.A.-based Arixa Capital did not immediately respond to a request for comment.

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