Scott Robins and Philip Levine are looking to sell a shovel-ready Wynwood development site approved for a mixed-use project. The Miami Beach-based partners are seeking offers starting at $26 million, an offering memorandum shows.
Tony Arellano and Devlin Marinoff with Dwntwn Realty Advisors are marketing the site, which is known as Wynwood Easel.
Recently, Robins and Levine obtained final approval from the city of Miami for a five-story mixed-use building with either 203 apartments, condos, hotel units or a combination of all three at 35-83 Northwest 27th Street in Miami, Arellano said. The site is currently a surface parking lot.
An affiliate of Robins’ eponymous firm assembled five of six parcels between 2012 and 2015, paying a combined $1.6 million, records show. The same entity has owned the sixth parcel since 1981, when it paid $800,000 for it.
Robins did not respond to a phone message, but Arellano told The Real Deal that the joint venture always envisioned selling the site.
“This was always a speculative land assemblage embarked on many years ago,” Arellano said. “They decided to add value by having it designed and entitled.”
Designed by Coconut Grove-based Arquitectonica, Wynwood Easel would also include 15,104 square feet of ground-floor retail, a rooftop pool and a 40-space garage.
Earlier, in 2020, Robins and Levine obtained city approval for a 120-key hotel with 72 apartments and 13,413 square feet of commercial space for the site.
Despite a slowdown in the multifamily market, development sites in South Florida’s urban neighborhoods are attracting interest from apartment developers based in the Northeast, Midwest and California, Arellano said.
“Miami has proven to be an absorption machine,” Arellano said. “Everything that has been developed in recent years is close to stabilizing. A lack of new construction starts in the last 15 months has created a supply gap two to three years out.”
Last year, Robins and Levine, a former mayor of Miami Beach, teamed up with Miami-based Tricera Capital to buy Aby Rosen’s distressed Lincoln Road retail building in Miami Beach for $13.6 million. In 2023, Levine sold a Wynwood mixed-use complex for $24 million.