Stephan Gietl and Fernando Levy Hara, the developers behind The Crimson, are pleased to announce the 90-unit boutique waterfront development has received Fannie Mae approval. As the only project in Edgewater offering this approval, The Crimson is just one of a handful of properties in the tricounty area with this important designation.
New Penn Financial specifically, Jeffrey Brown and Adam Rosenblatt, were engaged to be the preferred mortgage lender for The Crimson, part of which their role was to arrange the approval for the development. Once the Fannie Mae approval is received, The Crimson will be one of the only new construction condominium projects in Miami-Dade county with Fannie Mae financing available allowing Crimson buyers to purchase qualifying units with less than 20% down. New Penn is also offering specific loan programs for Foreign National buyers with financing up to 65 percent of the purchase price.
Located at NE 27th Street and Biscayne Bay, this LEED Silver certified project will feature 1, 2 and 3-bedroom residences, penthouses and townhomes. With direct water front views, The Crimson offers six penthouses equipped with exclusive outdoor terrace, summer kitchens and private hot tub. Each unit will also come equipped with a storage unit in the parking garage. The amenities of The Crimson, also referred to as the C- Club, include an 8th floor pool deck, landscaped promenade sundeck, hot tub, outdoor/indoor mini-theatre, cybercafé, lounge, business center, zen room and a state-of- the-art gym and spa.
“We are excited to be an integral part of this fantastic boutique property in one of Miami’s most exciting submarkets, Edgewater,” explains Jeffrey Brown, Manager of Developer Services Division for New Penn Financial, LLC. “The Fannie Mae approval will make the Crimson truly one of the most unique buildings in all of Miami by giving its buyers the opportunity to purchase these beautiful new condo units with less than a 20% down payment and at historically low mortgage rates. What an amazing opportunity for current and future Miami residents to own an exquisite piece of this remarkable city at an incredible value and with incredible leverage, rare to the market.”
“We are pleased to not only be awarded with the Fannie Mae approval, but to be the only Edgewater development to offer this for our buyers,” adds Fernando Levy Hara, CEO of mckafka Development Group. “With this unique program in place, it will not only separate us from the competition in our area, but it will be advantageous for our buyers to have reliable financing at such high leverage.”
ISG is the exclusive sales firm for The Crimson-Waterfront Residences. For more information about The Crimson visit www.thecrimsonmiami.com.