New Wave Loans funds $14.4 million Golden Beach oceanfront land deal

New Wave Loans provided a $14.4 million land loan for a 0.64-acre oceanfront redevelopment site at 625 Ocean Boulevard in Golden Beach, Florida. The financing supports future vertical development on a parcel intended for a single ultra-luxury spec residence.

Why it matters: - The loan gives a private developer capital to hold and prepare a rare oceanfront site in Golden Beach for future redevelopment. - The financing underscores continued lender appetite for South Florida land and pre-development assets. - The parcel’s beachfront location and limited size make the site especially targeted for high-end residential development.

What happened: - New Wave Loans provided a $14.4 million land loan to private developer David Rodriguez. - The loan is secured by a 0.64-acre redevelopment parcel at 625 Ocean Boulevard in Golden Beach, Florida. - The site sits on 100 linear feet of direct Atlantic Ocean frontage. - The property includes private beach access and unobstructed water views across the full width of the parcel.

The details: - The land traded at a purchase price of $24 million. - That works out to roughly $860 per square foot. - Rodriguez acquired the property for future vertical development. - He plans to build a single ultra-luxury spec residence on the site. - New Wave Loans said the transaction reflects its focus on flexible, rapidly deployed capital for land and pre-development assets in South Florida. - New Wave Loans is a private lending firm that offers financing for real-estate acquisitions, refinancing, construction and repositioning projects. - The firm specializes in Florida construction, bridge and land lending. - New Wave Loans also markets customized structures and rapid closings for Miami and Florida-based borrowers.

Between the lines: - The deal shows how lenders are still willing to finance premium coastal land, even before vertical construction begins. - Golden Beach remains a small, high-value market where oceanfront parcels can support ultra-luxury single-home development. - The structure suggests the borrower is positioning the property as a long-term development play rather than a quick resale.

What's next: - Rodriguez is expected to move toward permitting and design for the planned spec residence. - The site will likely remain a land-positioning asset until vertical development advances. - New Wave Loans is likely to keep targeting similar land, bridge and construction opportunities across Florida.