Former Bank Building To Converted Into Condominiums
By Tiffany Miller
The former Miami National Bank at 8101 Biscayne Blvd. will become a 73-condo loft development named The Bank before the end of 2004, according to James Goldstein, Midgard Development Group president.
Midgard bought the building for $3 million in November. Mr. Goldstein said he expects the conversion to cost an additional $10 million.
Miami National Bank 10 years ago closed its doors and became a vacant building 10 years ago.
"It looks fairly depressing from the outside, really an eyesore, but then you get inside and see the features," Mr. Goldstein said. "It’s excellently made."
The 7-story building began as a 2-story bank in the 1950s. Additions were made 10 years later.
Mr. Goldstein said he plans restore the original faÁade, terrazzo-patterned floors and butterfly-matched marble walls.
A restaurant and 15,000 square feet of retail space is expected to be added to the ground floor.
Condos in The Bank will vary from 700 to 2,000 square feet and $117,000 to $500,000. Higher-priced apartments will have views of the Biscayne Bay.
"We’ve already had people calling out of the blue. This will really fill a need," Mr. Goldstein said.
Belinson Architects of Miami is to design the units, focusing on glass windows, high ceilings and open concrete beams.
All tenants are to have access to a rooftop jacuzzi, meditation garden and sundeck. An open basement is to offer a lounge, library and fitness center.