The seven-story, enclosed-corridor hotel will include parking for up to 72 vehicles on the site, which measures just under an acre. Alfredo Himiob is the project's manager and Delant Construction is the general contractor for the hotel, which is now under construction and is expected to open in mid-2010.
The Kasabdji brothers have more than 15 years experience in project construction, engineering and investment real estate. They bought the parcel near the corner of Flagler Street and Le Jeune Road (SW 42nd Avenue) for $2.2 million in 2004, in a deal also financed by Ocean Bank.
Armando Martinez and Iliana Ivis Rodriguez were the Ocean Bank loan officers handling the transaction. Lawyer Roberto F. Fleitas of Fleitas & Bujan in Miami represented Flagler 4100, and Brian L. Fink of Catlin Saxon Fink & Kolski LLP in Coral Gables represented Ocean Bank in the transaction.
Ocean Bank, chartered in 1982, has more than $4.6 billion in assets and is the largest independent, state-chartered commercial bank based in Florida. It has 21 branches in Miami-Dade and Broward Counties.
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