Ocean Bank Lends $9.2 Million For Construction of Ultra-Luxury Townhomes

Ocean Bank Lends $9.2 Million For Construction of Ultra-Luxury Townhomes

Ocean Bank announced it has loaned $9.2 million for construction of a four-home community of high-end luxury townhouses directly adjacent highway A1A and facing the Atlantic Ocean.

The borrower is 499 Ocean Blvd. LLC, which is headed by developer Dubrow and Waserstein.

Each townhome, consisting of 4 stories and 3,328 square feet will have four bedrooms and 4.5 baths. They will feature luxury finishes that include 10-foot-high ceilings, private elevators, a rooftop terrace with multi-purpose room, two car garage, a private pool, a summer kitchen and natural gas generators.

"These townhomes are the essence of a luxury lifestyle," said Dubrow. "They combine amenities, quality and an unparalleled view."

"This is another excellent development by Dubrow and Waserstein, and Ocean Bank is pleased to provide the financing," said Rogelio Villarreal, Executive Vice President and Head of Commercial Lending for Ocean Bank

Ernesto De Abreu, Assistant Vice President and Lending Officer, arranged the loan for Ocean Bank.