29 Indian Creek Gets a $19.5M Loan and Shrinks to 16 Larger Homes

29 Indian Creek, the boutique condo project at 2901 Indian Creek Drive in Miami Beach, is about a quarter built and has its construction loan as of October 2026. Developer Trinity Southern closed a $19.5 million loan from S3 Capital, reported by Commercial Observer on October 9 and The Real Deal on October 12, with completion expected in 2027. The sales figures differ by outlet: Commercial Observer cited the developer saying 10 of the 16 units had sold, while The Real Deal put presales above 70 percent. The project has also been redesigned since its November 2025 groundbreaking: it is now 16 homes instead of 22, with larger units and a higher price ceiling.

From 22 homes to 16

At groundbreaking, the plan was 20 one- and two-bedroom condos plus two two-story townhomes, from 820 to just over 1,750 square feet and priced from $1.4 million to a little over $3 million. The current plan, per the October 12 report in The Real Deal and the sales team's project page, is 14 condos of one to three bedrooms plus the same two townhomes. Units now run from 840 square feet to more than 4,400 square feet, with prices from $1.5 million to over $8 million.

Fewer, bigger units on a 0.3-acre site is a familiar move in Miami Beach boutique projects: it trades unit count for a handful of large residences at the top of the price range. Buyers who reserved against the original floor plans should confirm their unit's size and number in the current condominium documents.

Who is building it, and the financing

Trinity Southern, a New York firm led by Bill and Dana Lozito, is both developer and builder; this is its first South Florida project. It bought into the deal in September 2025 alongside JMH Development, led by Jason Halpern, which held the site. On the day the loan closed, JMH transferred the 15,000-square-foot property at 2901 and 2911 Indian Creek Drive for $8 million, and Trinity says JMH remains a partner. CBRE arranged the loan. Urban Robot designed the architecture, interiors and landscape.

When ground broke in November 2025, phased demolition and site clearing were under way. By October 2026 construction had reached the 25 percent mark.

What the MLS shows today

Own.Miami's records for 2901 Indian Creek dr show the developer's inventory moving, as of October 13, 2026:

• 6 units pending, listed between $1,726,050 and $3,200,000, at about $1,814 to $1,900 per square foot.
• 4 units still active, from $1,595,000 for 842 square feet to $3,500,000 for a 1,452-square-foot townhome, a median ask of $1,919 per square foot.
• No closed sales or deeds yet, as expected before completion.

Those prices sit far above the resale market around it. Across 29th Street, Clearview Towers at 2829 Indian Creek Drive, built in 1968, closed 3 MLS sales in the last 12 months at a median $426,500, or $500 per square foot. Across Mid-Beach & North Beach, Own.Miami's market report counts 686 condo closings in the last 12 months at a median $485,000 ($464 per square foot), with 861 units for sale and 15.1 months of supply.

Why it matters for buyers and owners

The loan and the 25 percent mark address the main pre-construction risk for a project this small: the construction financing is in place. The bigger question is resale. New-construction buyers here are paying roughly four times the neighborhood's median price per square foot in a market with more than a year of supply, so the premium rests on the building being new, small and amenity-rich, including access to the Beach Club at the Miami Beach Edition for some owners. Anyone buying should budget for the possibility that the first resales after 2027 are measured against older Indian Creek buildings, not against the developer's price list.