Wynwood site sold for $14M
March 16, 2018
The 1.65-acre site at 2335 N. Miami Ave. in Miami was sold to Carpe Real Estate Partners for $14 million that could potentially redevelop it.
New Jersey-based Goltens, a marine repair facility, sold the property – 2319, 2323 and 2335 N. Miami Ave., plus 2301 N.E. Miami Court – and will relocate its operations to Miramar. The buyer, an entity controlled by David Weitz and Erik Rutter of New York-based Carpe Real Estate Partners.
The price equated to $194 a square foot of land. Goltens had owned it for over 30 years.
Mattingly said the buyer plans an adaptive reuse project. The property currently has 35,176 square feet of warehouse and retail buildings. Under Wynwood’s new zoning code, it could have a 400,000- to 600,000-square-foot mixed-use develop of up to eight stories, she said.
They plan to transform them through adaptive reuse, such as new finishes and landscaping, to attract retailers and creative office tenants.
Eventually, they will take advantage of the zoning to build a project of about 500,000 square feet, but first they want to let the residential and office projects currently under construction in Wynwood mature, Rutter said.
This property is just outside the area zoned as Wynwood.
To the west of the site, the Wynwood neighborhood has become a major attraction with its street art, restaurants and shopping, plus more residential units are under development. To the east of the site, the Edgewater neighborhood is booming with new condo and apartment towers. Midtown Miami, with its shopping center and apartments, is about five blocks to the north of the site.