Wynwood Redevelopment Site Sells For More Than $700 PSF

Jan 05, 2017 No Comments by

Marcus & Millichap announced the sale of Wynwood 310, a 19,891-square-foot building on a 26,475-square-foot lot in the rapidly changing Wynwood market of Miami.

The $14.5 million sales price equates to more than $700 per square foot.

 

“This transaction made sense for everyone involved,” says Jonathan Gerszberg, a vice president investments in Marcus & Millichap’s Miami office. “The seller accessed equity from years of hard work and investment, and the buyer obtained an asset next door to its current development and can now take this property to the next level. It’s a win-win, and we are very excited for our clients.”

Gerszberg, in conjunction with Andy Charry of FIP Realty, represented the seller, a private investor, and the buyer, an investment group from New York.

The property is two blocks from Mana Wynwood, a 23.5-acre, nearly 10-million-square- foot redevelopment site that will feature multifamily housing, retail and office space, art galleries, museums and exhibition spaces, and a conference center.

 

 

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Industrial / Flex, Industry News, Miami-Dade County Industrial / Flex, Miami-Dade County Office, Miami-Dade County Retail, NA, Office, Retail
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