Wynwood property asks $17M, 5x more than in 2011

Miami /
Apr.April 03, 2015 12:45 PM

Amid a flurry of recent Wynwood property sales, a commercial building has been listed for $17 million and is being marketed as a mixed-used development site, The Real Deal has learned.

The 1.1-acre site at 1900 Northeast Miami Court contains a 50,317-square-foot, three-story building, built in 1923, according to Miami-Dade property records. The owner, Aspira Properties, bought the property for $3.4 million in December 2011.

Transwestern’s South Florida office is the exclusive broker. Transwestern Managing Director John Bell and Senior Associate Mariano Perez are handling the listing.

“The site has long-term enhanced value as the market matures,” Bell said in a statement. “Signage opportunity, exposure, easy access and development constraints on adjacent public land make the 1900 Northeast Miami Court site a prime mixed-use development opportunity.”

Properties are changing hands in Wynwood at a rapid pace. Earlier this week, Amicon Construction Services’ office building at 2400 Northeast Second Avenue was purchased for $3.7 million by Brodson Construction. Broker Lyle Chariff told TRD the firm plans to redevelop the site into retail space.

Last week, New York investors Jameson Realty Group and Yellow Side Ventures paid $3.05 million for 151 Northwest 24th Street, which houses the art gallery Emerson Dorsche. The owners, who have bought other properties in Wynwood, told TRD they have plans to renovate the building.

Also last week, a 78,050-square-foot lot at 2201/2245 North Miami Avenue sold to Jeronimo Hirschfeld, developer and CEO of Miami-based One Real Estate, for $15 million, marking more than a five-fold increase within three years. Within the past month, New York-based investment firm Redsky Capital paid $26 million for 2621 Northwest Second Avenue, known as the Wynwood Block.


Related Articles

arrow_forward_ios
AJP Real Estate’s Alberto Pérez and Thor Equities’ Joseph Sitt with Wynwood Walk and MedSquare Health medical offices ( AJP Real Estate, Thor Equities)
Lease roundup: AJP, Mas fully lease Kendall medical offices
Lease roundup: AJP, Mas fully lease Kendall medical offices
2100 Northwest Miami Court, 2101 Northwest First Avenue and 2127 Northwest First Avenue (Google Maps, Getty)
Another Wynwood dev site hits market asking above $30M
Another Wynwood dev site hits market asking above $30M
Block Capital Group's Gustavo Miculitzki and a rendering of the proposed five-story, 17-unit apartment project at 91 Northwest 27 Street in Miami’s Wynwood (MKDA)
Block Capital proposes 17-unit Wynwood apartment project
Block Capital proposes 17-unit Wynwood apartment project
Evolve's Mike Winstead Jr. and Joe McKinney with rendering of the Evolve's Wynwood project (Evolve Companies, CTD Architecture)
North Carolina firm plans 141-unit Wynwood apartment project
North Carolina firm plans 141-unit Wynwood apartment project
Brick & Timber's Glenn Gilmore and Jesse Feldman with 215 NW 24th Street (LinkedIn, Brick & Timber, Google Maps)
Lease roundup: Brick & Timber, UBS nab tenants
Lease roundup: Brick & Timber, UBS nab tenants
Cube Wynwd, Ken Griffin and a Windstar Cruiseship (Google Maps, Getty, Windstar Cruises)
South Florida by the numbers: Headquarters heading here
South Florida by the numbers: Headquarters heading here
Thor Equities' Joe Sitt rendering of 2724 Northwest Second Avenue (Thor Equities, DWNTN Realty Advisors)
Thor Equities lists Wynwood dev site for $32M
Thor Equities lists Wynwood dev site for $32M
View of the buildings at 612, 817 and 815 Lincoln Road in Miami Beach and Terranova’s Stephen Bittel (Google Maps, Terranova Corp)
Lease roundup: Terranova, Millennium, R&B, Duke nab tenants
Lease roundup: Terranova, Millennium, R&B, Duke nab tenants
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...