Wynwood nightclub building hits the market

Comparable properties sold for $1,100 psf to $1,500 psf, broker says

Miami /
Nov.November 02, 2020 01:30 PM
Angel Febres, partner, Homecookin’ Hospitality and Metro 1 Managing Director Andres Nava

Angel Febres, partner, Homecookin’ Hospitality and Metro 1 Managing Director Andres Nava

A nightclub building in Wynwood is hitting the market, unpriced.

Miami-based commercial brokerage Metro 1 has the listing for the property at 150 Northwest 24th Street. The sole tenant is the nightclub Rácket, according to a release. It is operated by Miami Beach-based Homecookin’ Hospitality Group, led by Angel Ferbes.

The owner is HJK Holding, led by CEO Hadassah Keynan. HJK bought the building in 2005 for $760,000, records show.

The 6,700-square-foot building is listed unpriced, but comparable properties in the area have sold for $1,100 per square foot to $1,500 per square foot, according to the release. That would translate to a price of $7.37 million to $10 million.

The one-story building was built in 1951, according to records.

In November, Metro 1 listed Wynwood Crossings, a 1.38-acre site in Wynwood’s southeast quadrant, for $21.5 million.

Among other recent listings in Wynwood, the Related Group and its partner, Block Capital Group, are looking to sell their apartment-hotel, Domio Wynwood, which has a whisper price of $90 million.

Recent sales in Wynwood include Related closing on a development site in May for $18.5 million.





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