Constellation Group, Boschetti Group and Vietmar Secure $42.3 Million Construction Financing For Ella Miami Beach

Miami-based real estate development firms Constellation Group, The Boschetti Group and Vietmar have closed on a $42.3 million construction loan for Ella Miami Beach, a 10-story boutique condominium in the heart of Miami’s North Beach neighborhood. Berkadia secured the construction loan through the lender Amerant Bank, which provided financing for a three-year, floating-rate loan term.

The highly anticipated development, which broke ground in February 2025, has already achieved more than 50% in pre-construction sales, demonstrating strong market validation for the project. Located at 6940 Abbott Avenue, Ella Miami Beach is scheduled for completion in 2026.

"Securing this construction financing represents a crucial milestone in bringing Ella Miami Beach to life," said Eduardo Otaola, Managing Principal of Constellation Group. "Our vision for this project has resonated strongly with buyers who recognize the unique opportunity to own a thoughtfully designed residence in one of Miami Beach's most promising neighborhoods. This financing allows us to continue our momentum and deliver on our commitment to creating an architectural landmark that honors Miami Beach's iconic Art Deco heritage.”

The financing was arranged by Berkadia South Florida, led by Scott Wadler, Mitch Sinberg, Brad Williamson, Matt Robbins and Mike Basinski.

“The development partners were early movers in the North Beach submarket, allowing them to set the neighborhood standard for new, high-quality residential living at an attractive price point,” said Wadler.

“We are proud to finance Ella Miami Beach, a development that reflects our commitment to South Florida’s growth and revitalization,” said Juan P. Esterripa, SEVP, Chief Commercial Banking Officer, Amerant Bank.

Designed by renowned architecture firm, Arquitectonica, Ella Miami Beach features studios, one- and two-bedroom floor plans. Residences range from 342 to 1,089 square feet, and pricing starts in the $500,000s, an attractive offering for new construction in Miami Beach, where prices typically begin above $1 million.

Primed for seamless indoor/outdoor living, each residence features gracious terraces with select homes offering impressive views of Biscayne Bay, the Atlantic Ocean, and the Miami skyline. Punctuating the style and sophistication of the project, each of the residences will be delivered with approximately 9-foot-high ceilings throughout, contemporary ItalKraft kitchens with stone countertops and JennAir appliances, and European-inspired designer closets. For a completely turn-key residential experience, bespoke Interiors by Steven G. packages are available for purchase at attractive pricing, blending modern furnishings with classic Art Deco architecture.

Among the many signature elements that enhance the experience of being an owner at Ella Miami Beach is a suite of amenities that include a rooftop pool and fitness center with boundless views of Biscayne Bay and Downtown Miami, a pickleball court overlooking the Atlantic Ocean, residents’ lounge, summer kitchen with an outdoor dining area, and an observation deck and lounge. The property’s wellness amenities include an outdoor yoga and meditation deck, a cold plunge, and a sauna. Other lifestyle conveniences include private beach club access managed by The Boucher Brothers, short-term rental options managed by Nomada, a coworking area for remote workers, complimentary beach cruisers, bike and beach toy storage, onsite parking and retail, and more.

The Ella Miami Beach sales gallery is located at 6897 Collins Avenue in Miami Beach.

For more information about Ella Miami Beach or to inquire about purchasing a unit please fill out the form below:

Constellation Group, Vietmar and The Boschetti Group Break Ground on Ella Miami Beach

Miami-based real estate development firms Constellation Group, Vietmar and The Boschetti Group marked a significant milestone with the groundbreaking of Ella Miami Beach, the 10-story boutique condominium that promises to redefine luxury living in the heart of North Beach. Located at 6940 Abbott Avenue, the 103-unit development pays homage to the city's glamorous Art Deco heritage, offering a fresh approach to elegant urban living.

The ceremonial groundbreaking event was attended by key stakeholders, including Eduardo Otaola, Managing Principal of Constellation Group; Jose Boschetti, Principal of The Boschetti Group; Rainer Viete, Vice President of Vietmar; Raymond Fort from award-winning architectural firm Arquitectonica; Daniel de la Vega, President of One Sotheby’s International Realty; and Miami’s most recognized top brokers.

"Breaking ground on Ella Miami Beach is more than just the start of construction - it marks the realization of our team's vision. Ella isn’t just a residential condo project; it’s a tribute to Miami Beach’s rich architectural heritage and vibrant character," said Eduardo Otaola, Managing Principal of Constellation Group. “We're delivering on a promise to create a thoughtful, design-forward residential experience that respects Miami Beach's design legacy while meeting the sophisticated needs of today's buyers. We are honored to contribute to Miami Beach's bright future and help push its center of gravity northward."

The highly anticipated project has already garnered significant attention, with over 50% of its 103 residences sold prior to commencing construction. This compelling pre-construction interest underscores the project's unique value proposition and its potential to transform the North Beach landscape. With construction now officially underway, Ella Miami Beach is set to be completed in 2026.

Ella Miami Beach features studios, one- and two-bedroom floor plans. Residences range from 342 to 1,089 square feet, and pricing starts in the $500,000s—an attractive offering for new construction in Miami Beach, where prices typically begin above $1 million.

Primed for seamless indoor/outdoor living, each residence features gracious terraces with select homes offering impressive views of Biscayne Bay, the Atlantic Ocean, and the Miami skyline. Punctuating the style and sophistication of the project, each of the residences will be delivered with approximately 9-foot-high ceilings throughout, contemporary ItalKraft kitchens with stone countertops and JennAir appliances, and European-inspired designer closets. For a completely turn-key residential experience, bespoke Interiors by Steven G. packages are available for purchase at attractive pricing, blending modern furnishings with classic Art Deco architecture.

Among the many signature elements that enhance the experience of being an owner at Ella Miami Beach is a suite of amenities that include a rooftop pool and fitness center with boundless views of Biscayne Bay and Downtown Miami, a pickleball court overlooking the Atlantic Ocean, residents’ lounge, summer kitchen with an outdoor dining area, and an observation deck and lounge. The property’s wellness amenities include an outdoor yoga and meditation deck, a cold plunge, and a sauna. Other lifestyle conveniences include private beach club access managed by The Boucher Brothers, short-term rental options managed by Nomada, a coworking area for remote workers, complimentary beach cruisers, bike and beach toy storage, onsite parking and retail, and more.

The Ella Miami Beach sales gallery is located at 6897 Collins Avenue in Miami Beach.

Images via Alexey Olivenko

For more information about Ella Miami Beach or to inquire about purchasing a unit please fill out the form below:

Arquitectonica-Designed Boutique Condo 'Ella Miami Beach' Launches Sales In Miami Beach

Miami-based real estate development firms, Constellation Group, The Boschetti Group, and Vietmar have officially launched sales on Ella Miami Beach, a 10-story boutique condominium that will soon rise in the heart of Miami Beach, at 6940 Abbott Avenue. The new construction building is expected to break ground in the first quarter of 2024 and is slated for completion in 2026.

Located in the highly sought-after neighborhood of Miami Beach, the 95 residences will be exclusively marketed by ONE Sotheby’s International Realty. Featuring studios to two-bedroom floor plans, the residences will range from 434 to 1,076 square feet, with prices starting in the upper $400,000s, an attractive entry price for a new-build product in Miami Beach, where new construction pricing typically starts at approximately $1 million.

“We are truly excited to introduce Ella Miami Beach, as it brings an unparalleled value proposition to the new construction market in Miami Beach,” said Eduardo Otaola, Managing Principal of Constellation Group. “Its price point, connectivity to the beach, architecture, and amenity program position Ella Miami Beach to be the most attractive new construction project in the market today.”

Offering the best luxuries of Miami Beach living, Ella Miami Beach is replete with a sophisticated design and indulging amenities, and is situated within walking distance to the beach, popular restaurants, boutique shops, and a myriad of entertainment venues.

“Ella Miami Beach is the singular project for the area that responds to the demand for an intimate residential experience that offers real luxury at attainable price points,” said Daniel de la Vega, President of ONE Sotheby’s. “The development team has established an elevated benchmark for luxury living with flexible ownership in one of South Florida’s most dynamic neighborhoods.” Short-term rentals may also be permitted at Ella Miami Beach.

Inspired by Miami Beach’s Art Deco era, Ella Miami Beach is being designed by award-winning international architectural firm Arquitectonica, to include subtle Art Deco curves to the building with modern 21st-century lines that highlight the sweeping rooftop views that stretch from the city on one side to the ocean on the other.

“Ella Miami Beach is our proud contribution to preserving the rich history of Miami Beach while ushering in a new era of sophisticated living,” said Jose Boschetti, Principal of The Boschetti Group. “We believe the past has always shaped the present, and this classic, yet contemporary development is no exception. With its effortless charm, Ella Miami Beach highlights Miami Beach’s past while offering buyers a unique opportunity to be part of its exciting future.”

Primed for seamless indoor/outdoor living and entertaining, each residence features gracious terraces with select homes offering impressive views of Biscayne Bay, the Atlantic Ocean, and the Miami skyline. Punctuating the style and sophistication of the project, each of the residences will be delivered with approximately 9-foot-high ceilings throughout, contemporary ItalKraft kitchens with stone countertops and JennAir appliances, as well as European-inspired designer closets. For a completely turn-key residential experience, exclusive bespoke Interiors by Steven G packages are available for purchase.

“For buyers who seek classic Miami Beach living and prefer the intimacy of a full-service boutique building, Ella Miami Beach is unmatched,” added Rainer Viete, Vice President at Vietmar. “We are very excited to be developing this stunning new project and to be working alongside Constellation and The Boschetti Group.”

Among the many signature elements that enhance the experience of being an owner at Ella Miami Beach is a suite of amenities that include a rooftop pool and fitness center with boundless views of Biscayne Bay and Miami, a paddle/pickleball court overlooking the Atlantic Ocean, residents’ lounge, summer kitchen with an outdoor dining area, and an observation deck and lounge. Its wellness amenities include an outdoor yoga and meditation deck, cold plunge, and sauna. Other conveniences consist of a coworking area, complimentary beach cruisers, bike and beach toy storage, and more.

Ella Miami Beach’s Sales Gallery is located at 6897 Collins Avenue in Miami Beach.