A development site along NW 2nd Ave in Wynwood just hit the market.
January 18, 2018
A development site along NW 2nd Avenue in Wynwood just hit the market.
The William & Doris Friedopfer Trusts are selling the 1.72-acre assemblage at 2421, 2431 and 2455 Northwest Second Avenue; 146, 159, 169 and 172 Northwest 25th Street and the lot at 153 NW 25th Street. .
The assemblage is being listed without a price, but recent land sales along NW 2nd Avenue have closed for about $1,000 per square foot on average. That would come out to about $75 million.
The land is home to two industrial buildings totaling about 31,000 square feet and a 4,500-square-foot retail building leased to Romero Britto’s studio and art gallery, according to a release. It can be developed into up to 259 residential units or 540,000 square feet of retail, residential, office or hotel space.
Last month, a partnership between Link Real Estate and Jameson Equities paid $5.4 million for the nearby property at 2509 North Miami Avenue where it’s planning a creative office project.
East End Capital and the Related Group are also building Wynwood 25, apartments, and the Wynwood Annex, an office building being built alongside the rentals.
Source and photo The Real Deal South Florida