The Real Deal Miami

Posts Tagged ‘wynwood’

  • KAR Properties buys Wynwood site for $12.5M

    Land last sold in 1995 for $280K
    December 19, 2014 05:21PM
    KAR Properties CEO Shahab

    KAR Properties CEO Shahab S. Karmely

    A New York developer bought a 1.03-acre site in Wynwood on Thursday for $12.5 million.

    The property, at 2050 North Miami Avenue, is KAR Properties’ fifth in South Florida. CEO Shahab S. Karmely said in a news release that the company is focused on South Florida’s emerging and established neighborhoods. The developer paid cash for the Wynwood property. [more]

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  • BridgeInvest funds Wynwood acquisition loan

    Deal closed in less than three weeks with repeat borrower
    November 20, 2014 12:45PM
    BridgeInvest closed a loan on a site on NW 2nd Avenue.

    BridgeInvest closed a loan for a site on Northwest Second Avenue

    Miami-based real estate lender BridgeInvest closed a $2.5 million acquisition loan on a prime redevelopment site in the burgeoning Wynwood Arts District.  This is the second deal that the borrower, a special purpose vehicle managed by local investor Remy Jacobson, has done with BridgeInvest in Wynwood.

    The continued influx of new tenants into the area and the site’s location within an emerging submarket made it an attractive project for BridgeInvest. [more]

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  • Wynwood warehouse deal closes after two years in court

    The seller had tried to scuttle the closing
    November 13, 2014 01:30PM
    Screen-Shot-2014-11-13-at-9.39

    217 NW 22nd Street

    The $3 million sale of a Wynwood property nearly two years ago has been tangled in a legal imbroglio ever since. Now, a judge has ruled in favor of the buyer.

    At the closing in 2012, seller M&S Investment had a change of heart as the neighborhood became a development hotspot. Moreover, M&S discovered late in the deal that the property – a 27,000-square-foot warehouse and commercial parcel at 2001 Northwest 21st Street and 210 Northwest 22nd Street — would be subject to a $250,000 early-termination penalty on its Bank of America mortgage, according to the Daily Business Review. [more]

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  • Wynwood veteran recommends patience

    David Lombardi plans to develop mixed-use project on 29th Street over the next four years
    November 06, 2014 03:00PM
    Wynwood and David

    Wynwood and David Lombardi

    With Wynwood real estate so hot, a neighborhood pioneer David Lombardi says now is a great time to “do nothing.” [more]

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  • Documentary explores gentrification of Wynwood: VIDEO

    Local filmmakers detail transformation of Miami neighborhood through development
    November 04, 2014 11:40AM
    righttowynwood

    Images from the “Right to Wynwood” documentary

    A recently released documentary explores the impact of gentrification on Miami’s burgeoning Wynwood neighborhood, which is being heavily targeted by major investors and developers. [more]

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  • Moishe Mana has grand plan for Wynwood

    Largest landowner continues to add to his holdings
    October 30, 2014 04:30PM
    Moishe Mana

    Moishe Mana

    The biggest landowner in Miami’s Wynwood district is becoming even bigger.

    That’s according to a profile in the Daily Business Review, in which Moishe Mana described some of his vision for the area. Mana, an Israeli entrepreneur, recently hired architect Bernard Zyscovich to create a master plan for the area, where he has been buying up lots since 2010. [more]

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  • East End makes another big Wynwood purchase

    New York developers pay $23.5M for two acres in what might be a record for the market
    October 07, 2014 12:45PM
    Aerial of site acquired by East End Capital (inset: Lyle Chariff and Mauricio Zapata)

    Aerial of site acquired by East End Capital (inset: Lyle Chariff and Mauricio Zapata)

    Two acres of Wynwood land was just purchased by a New York real estate investment firm for $23.5 million in a transaction that might be a record for the emerging Miami neighborhood, The Real Deal has learned. [more]

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  • Wynwood gets new parking plan

    The neighborhood will now have special employee parking
    September 10, 2014 05:15PM
    A parking sign in Wynwood

    A parking sign in Wynwood

    Parking complaints from Wynwood business owners and employees spurred the Miami Parking Authority to create a parking plan that includes provisions for local employees. [more]

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  • Wynwood’s free parking ride could be over

    Miami mayor, business owners upset with authority's plan to start charging
    August 19, 2014 09:45AM
    Tomas Regalado and Art Noriega

    Tomas Regalado and Art Noriega

    Miami’s rapidly-growing Wynwood neighborhood has benefited from free street parking in front of businesses and art galleries for years. The city’s parking authority is facing opposition for its plan to start charging drivers who park in the area.

    Starting on Sept. 1, Wynwood street parkers must pay $1.50 per hour and can only park in designated zones for three hours. Drivers have the option to purchase parking decals for the western edge of the neighborhood for $55 a month. [more]

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  • New York developers take aim at Wynwood

    Madison Avenue venture wants to transform shoe warehouse into trendy retail plaza
    August 06, 2014 02:15PM
    David Peretz and Jonathon Yormak

    David Peretz and Jonathon Yormak

    A Madison Avenue-based real estate investment firm founded by developers Jonathon Yormak and David Peretz is aiming to transform a wholesale shoe warehouse in Miami’s Wynwood neighborhood into a trendy retail plaza with a rooftop lounge.

    The proposed 23,500-square-foot project by East End Capital and Yellow Side Ventures is among several retail developments being proposed by New York investors, who believe Wynwood is fast becoming Miami’s version of some of their city’s trendiest neighborhoods. [more]

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