Sterling Bay pays $19M for Wynwood site, plans mixed-use project

Companies tied to attorney Scott Srebnick sold the assemblage

TRD MIAMI /
Dec.December 18, 2018 05:30 PM

Sterling Bay’s Andy Gloor and a rendering of 545wynn

UPDATED, Dec. 19, 9:38 a.m.: Sterling Bay just bought a Wynwood site for $18.9 million with plans to build an ambitious 10-story, mixed-use development.

The Chicago-based investment firm purchased the 63,000-square-foot property at 537-557 Northwest 26th Street and 530-550 Northwest 27th Street. Companies tied to Scott Srebnick, an attorney and husband of Wynwood developer Jessica Goldman Srebnick, sold the assemblage.

Sterling Bay received approval from the Wynwood Design Review Committee for the project, called 545wyn, in April. Plans include 298,000 square feet of modern Class A office space and 26,000 square feet of retail space.

The building will also include 420 parking spaces and a 18,000-square-foot tenant amenity floor, conference rooms, a wellness center and private tenant and open-air balconies.

The project is designed by the San Francisco-based architecture firm Gensler. It is expected to break ground by the first quarter of 2019.

CBRE is the exclusive office leasing partner for 545wyn, according to a release.

In Chicago’s West Loop, Sterling Bay has developed the global headquarters for McDonald’s. It also has plans to develop a $5 billion, 70-acre mega project in Chicago called Lincoln Yards.

A number of new projects are planned or have been recently constructed in Wynwood. Los Angeles-based CIM Group and One Real Estate Investment are planning to build a 12-story mixed-use project at 2201 North Miami Avenue. And earlier this month, Quadrum Global bought a 30,000-square-foot property at 2217 and 2233 Northwest Miami Court, which could bring Wynwood its first hotel.

Goldman Properties also just completed the first parking garage in Wynwood at 301 Northwest 26th Street.

An earlier version of this story incorrectly identified the square footage of the land. 


Related Articles

arrow_forward_ios
Foyer Wynwood and Jonathon Yormak

East End Capital scores approval for co-living project in Wynwood

East End Capital scores approval for co-living project in Wynwood
From left: Erik Rutter, David Weitz, David Levinson and Robert Lapidus, with 95 Northwest 29th Street (Credit: Google Maps)

Luxury office, resi project planned for former Rubell museum in Wynwood

Luxury office, resi project planned for former Rubell museum in Wynwood
Alex Karakhanian and Chaim Cahane with 48 Northwest 25th Street

Alex Karakhanian sells Wynwood property for $17M

Alex Karakhanian sells Wynwood property for $17M
Jorge Pérez and Jon Paul Pérez with the Wynwood properties

Related Group pays $19M for Wynwood development site

Related Group pays $19M for Wynwood development site
From left: David Weitz, Steve Wernick, Michael Lirtzman, Joe Furst, and Erik Rutter

Silicon Valley heads to Wynwood’s office market

Silicon Valley heads to Wynwood’s office market
Stuart Miller, Wynwood Green

Lennar scores $45M construction loan for Wynwood apartment project

Lennar scores $45M construction loan for Wynwood apartment project
Wynwood 25

Wynwood BID proposes to allow outdoor music until 3 a.m.

Wynwood BID proposes to allow outdoor music until 3 a.m.
Rendering of East End Capital

East End Capital launches co-living platform with first project in Wynwood

East End Capital launches co-living platform with first project in Wynwood
arrow_forward_ios

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

Loading...