The Real Deal Miami

Hotel developer Quadrum Global buys Wynwood site

Remy Jacobson sold the property, which allows for up to 12 stories, 123 units
By Katherine Kallergis | November 30, 2018 04:00PM

2217 Northwest Miami Court, Miami (Credit: iStock)

Quadrum Global just picked up a development site in Wynwood.

Remy Jacobson’s Wynwood Design Center LLC sold the 30,000-square-foot property at 2217 and 2233 Northwest Miami Court to Quadrum Pacific LLC, according to Metro 1. The $8.55 million deal closed on Thursday.

Quadrum Global, an international real estate investment and development firm, owns the Nautilus South Beach, a 250-key hotel at 1825 Collins Avenue in Miami Beach. The company also owns two Arlo-branded hotels in New York City, as well as hotels in Chicago and Orlando, and commercial properties in London, Kiev and the country of Georgia. The Nautilus is being marketed for sale and brokers could sell for as much as $180 million.

The Wynwood property is zoned T6-8-O, allowing for buildings of up to 12 stories and about 248,000 square feet of development with bonuses, according to the property flier. About 103 residential units or 203 hotel rooms can be built on the site, which currently includes a 19,065-square-foot warehouse.

Construction cranes are taking over Wynwood. Goldman Properties just completed the first parking garage in Wynwood at 301 Northwest 26th Street, and a number of apartment, office and retail projects are underway. A few hotels have been proposed, including one from former Miami Beach mayor Philip Levine and developer Scott Robins, but none have broken ground yet.

Tony Cho and Andres Nava of Metro 1 represented the seller and Fabian Graff brought the buyer. The Miami Herald first reported the sale.

Quadrum Global could not immediately be reached for comment.