The Real Deal Miami

Wynwood brewery building sells to Brooklyn investor

Veza Sur building sold for $1,200 psf
By Katherine Kallergis | November 01, 2017 03:30PM

The brewery at 55 Northwest 25th Street

The building leased to Veza Sur Brewing Co. in Wynwood just sold for $4.5 million, or nearly $1,200 per square foot.

Property records show Wynwood Warehouse 25th St. LLC sold the building at 55 Northwest 25th Street to an entity controlled by Philip Knoll, a Brooklyn-based investor. The off-market deal was brokered by Alex Sherman of Affinity International Realty and Dov Tepper of Forte Capital Management, who represented the seller, and Chaim Cahane, also of Forte, who represented the buyer.

Veza Sur, owned by Anheuser-Busch InBev, is leasing the 3,800-square-foot space. The brewery, which includes a brewhouse and taproom, opened in August. It’s a collaboration between Berny Silberwasser of Bogota Beer Company and Chris and Jeremy Cox of 10 Barrel Brewing Co., according to a news release.

Anheuser-Busch has 11 years left on the lease, Cahane said. The seller, led by Christianne M. Wassmann, originally planned to build out the brewery for himself, but decided to lease it to the beer giant.

It’s the second Wynwood property for Knoll, who also owns the building at 2210 North Miami Court. Records show Wynwood Showcase LLC paid $3.9 million for that property in 2016.

New Yorkers have been investing heavily in Wynwood, so much so that Cahane is creating a consulting division within his firm to work with clients from New York, he said.

Records show Knoll financed the deal with a 10-year, interest-only $2.9 million mortgage from Ladder Capital Finance, a New York-based lender.