The Real Deal Miami

Goldman nabs $22M construction loan for Wynwood garage

The eight-story, 428-space garage will also have retail and office space
By Katherine Kallergis | April 27, 2017 12:45PM

Renderings of the parking garage. Inset: Jessica Goldman Srebnick

Goldman Properties secured a $22 million construction loan for an artsy parking garage in Wynwood, property records show.

Sabadell United Bank provided the financing to Goldman affiliate Wynwood DS LLC. Goldman, led by CEO Jessica Goldman Srebnick, is building an eight-story, 428-space parking garage on the site at 2660 Northeast Third Avenue in Miami.

The project also will have about 20,600 square feet of retail on the ground floor and nearly 24,000 square feet of office space on the top floor. The facade, a latticework of panels that surround the building, will form a giant blank canvas for artists chosen by Goldman to display their work. The art will be installed using a removable film, which could be swapped out for new pieces every few years.

The garage will mark one of the first in Wynwood, where parking is limited to the street and lots.

Goldman was the first to invest in Wynwood with purchases that were started by her father, the late Tony Goldman. In September, the firm sold a 1.25-acre development site along Northwest Second Avenue and 27th Street to RedSky Capital and JZ Capital Partners for $30.75 million, or about $565 per square foot.

Since new zoning designations were put in place in Wynwood in late 2015 encouraging more density, mixed-use and residential developments, a number of new projects have been proposed.