Philip Levine lists block-long Wynwood dev site for $25M

His company paid nearly $6M for the assemblage in 2012

Jul.July 15, 2019 04:30 PM
Philip Levine and the property at 2215 Northwest First Place (Credit: Getty Images)

Philip Levine and the property at 2215 Northwest First Place (Credit: Getty Images)

Developer and former Florida gubernatorial hopeful Philip Levine listed a block-long development site in Wynwood for $25 million.

Levine, a real estate investor and a former Miami Beach mayor, is looking to sell the properties at 2215 Northwest First Place, according to a Loopnet listing. The site includes a building known as the “Whale & Star” building.

Tony Arellano and Devlin Marinoff of Dwntwn Realty Advisors are the listing brokers. The assemblage covers the land between 22nd and 23rd streets east of Northwest First Place, and includes the 27,000-square-foot building that can be repurposed from flex warehouse space to retail space, marketing materials show.

The site, near 1-800-Lucky, the Butcher Shop and El Patio, can also be developed into a 132-unit residential project or a 265-key hotel with a retail component.

The land – roughly 38,500 square feet – is asking about $650 per square foot and the existing building is on the market for $912 per foot. The flex warehouse space was renovated to feature Class A gallery interiors.

Records show that Levine’s Baron Wynwood LLC paid $5.85 million for the properties in 2012. The west side of that block is owned partially by a partnership between Redsky Capital and JZ Capital Partners. The block also has another assemblage owned by 144 Investments Corp. Goldman Properties owns the block immediately west of Levine’s assemblage.

As development ramps up in Wynwood, the neighborhood’s business improvement district board is working on a streetscape and tree canopy master plan, designed by ArquitectonicaGeo, that could include a bicycle and wellness loop, pocket parks, lush landscaping, and more woonerfs — a Dutch-inspired shared street design aimed at slowing down traffic. A woonerf has been proposed for the street fronting the Levine properties.

Last year, Levine and his partner Scott Robins submitted a permit for a hotel and residential development at 35 Northwest 27th Street in Wynwood, months after the two investors sold a major retail portfolio they had developed in Miami Beach’s Sunset Harbour neighborhood for nearly $69 million. The buyer was Asana Partners, a Charlotte, North Carolina-based real estate investment firm.

Robins said he is not involved in the ownership of the assemblage on Northwest First Place.

Levine could not immediately be reached for comment.

Levine also owns real estate in Miami Beach and Manhattan, according to his financial disclosures. The former Miami Beach mayor lost the Democratic primary to former Tallahassee Mayor Andrew Gillum, who then ran against and lost to Ron DeSantis for governor of Florida in November.

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