Dev site in Wynwood hits the market

Comp sales along Second Avenue have averaged $1,000 psf

Miami /
Jan.January 17, 2018 06:00 PM

Aerial photo of the Wynwood assemblage (Credit: Cushman & Wakefield)

A development site along Northwest Second Avenue in Wynwood just hit the market.

The William & Doris Friedopfer Trusts are selling the 1.72-acre assemblage at 2421, 2431 and 2455 Northwest Second Avenue; 146, 159, 169 and 172 Northwest 25th Street and the lot at 153 NW 25th Street. Cushman & Wakefield’s Robert Given, Robert Kaplan, Troy Ballard, Errol Blumer, James Quinn and Mark Rutherford are marketing the property.

The assemblage is being listed without a price, but recent land sales along Northwest Second Avenue have closed for about $1,000 per square foot on average. That would come out to about $75 million.

The land is home to two industrial buildings totaling about 31,000 square feet and a 4,500-square-foot retail building leased to Romero Britto’s studio and art gallery, according to a release. It can be developed into up to 259 residential units or 540,000 square feet of retail, residential, office or hotel space.

Last month, a partnership between Link Real Estate and Jameson Equities paid $5.4 million for the nearby property at 2509 North Miami Avenue where it’s planning a creative office project.

East End Capital and the Related Group are also building Wynwood 25, apartments, and the Wynwood Annex, an office building being built alongside the rentals.


Related Articles

arrow_forward_ios
Rendering of the Dorsey with Alex Karakhanian, Jon Paul Perez and Tricera’s Scott Sherman and Ben Mandel (iStock)

Related scores $88M construction loan for Dorsey project in Wynwood

Related scores $88M construction loan for Dorsey project in Wynwood
Dan Deitchman and Koby Assaraf with a rendering of Industry | Oakland Park

Oakland Park developer partners with former Link Real Estate exec on new firm

Oakland Park developer partners with former Link Real Estate exec on new firm
Ben Bernstein and Ryan Shear with a rendering of the project at 2407 Northwest 2nd Avenue, Miami (RedSky, PMG, Google Maps)

PMG adds to assemblage of planned Society Wynwood project

PMG adds to assemblage of planned Society Wynwood project
Renderings of the project (Group P6)

Group P6 lands $69M construction loan for Boca Raton project

Group P6 lands $69M construction loan for Boca Raton project
Goldman Properties' Jessica Goldman Srebnick with 2501 Northwest 5th Avenue and the lot at 413 Northwest 25th Street, Miami (Getty, iStock)

Goldman Properties buys Wynwood property for discounted $5M

Goldman Properties buys Wynwood property for discounted $5M
Pharrell Williams and David Lerner with a photo of 2545 Northwest Third Avenue and a rendering of the Billionaire Boys Club exterior (Getty, Google Maps, Lerner Family Properties)

Pharrell’s Billionaire Boys Club to open store in Wynwood

Pharrell’s Billionaire Boys Club to open store in Wynwood
Alex Sapir and Bella Sapir (Credit: Mark Von Holden/WireImage via Getty Images, and ADRIEL REBOH/Patrick McMullan via Getty Images)

Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside

Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside
Angel Febres, partner, Homecookin’ Hospitality and Metro 1 Managing Director Andres Nava

Wynwood nightclub building hits the market

Wynwood nightclub building hits the market
arrow_forward_ios

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

Loading...