Wynwood development site sells for $5.85 M

April 7, 2018

Wynwood development site at 269 NW 27th Terr, Miami FL 33127, sells for $5.85 million, according to property records.

The site was listed for sale in June for $6.75 million, which means it sold for a 13 percent discount.

The property was originally part of Thor and Rockwood’s larger assemblage that includes the 2.1-acre property at 2801 Northwest Third Avenue, which hit the market last year asking $45 million.

Records show Thor Weck Owner LLC paid $26.9 million for the assemblage in 2015. The company received site plan approval a year later for the Wynwood Plant, a 12-story, mixed-use residential building with roughly 300 units, retail space and parking on the bigger site.

Land values have soared in Wynwood. After the neighborhood was rezoned in 2015, developers rushed to submit proposals for a number of mixed-use projects that are now under construction.

Source info press The Real Deal South Florida

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