fbpx

Commercial Building in Miami’s Wynwood Neighborhood Nets $6.35 Million in Sale

DWNTWN Realty Advisors Co-Founders and Managing Partners Tony Arellano and Devlin Marinoff recently brokered the sale of a $6.35 million commercial building in the popular Wynwood neighborhood. The team represented the seller, Alex Karakhanian’s LNDMRK Development, and the buyer, Forte Capital’s Chaim Cahane and Sheridan Capital, which plans to renovate the 14,000-square-foot building at 2830 NW Fifth Ave. into creative offices.

“This property is perfectly positioned within Wynwood’s core pedestrian district and at the intersection of the neighborhood’s high-density main access corridor,” Arellano says. “We successfully marketed the building as an unparalleled adaptive re-use opportunity. The buyers will do a tremendous job executing that plan.”

The property features private gated parking, high ceilings and quick access to highways. It is within walking distance of Wynwood’s most notable projects and landmarks, including 545wyn, the Wynwood Building, Love Life Café, Morgan’s and the Wynwood Garage.

“Wynwood is the talk of the nation, given the substantial technology and finance migration to the neighborhood,” Marinoff says. “This building will cater to the demand for cool and creative office space in Wynwood. As we head into 2022, there is still incredible demand from the investment world for acquisition and development opportunities here.” 

Other high-profile investment sales transactions in 2021 for DWNTWN include:

  • The $6.5 million sale of a retail showroom at 170 NE 38 St. in Miami’s Design District
  • The $13.3 million sale of the Wynwood Arcade, a retail and restaurant building at 50 NW 24 St. in Miami’s Wynwood
  • The $11.6 million sale of a multifamily portfolio at 5601 NW First Ave. in Little Haiti
  • The $10.5 million off-market sale of a former production studio site at 12100 NE 16 Ave. in North Miami

 

The firm has overseen over $350 million in investment and development sales in Wynwood over the last few years and has more than $175 million in pending transactions in the neighborhood.

For more information on DWNTWN’s current offerings, visit https://dwntwnrealtyadvisors.com/inventory.

You May Also Like
American Heritage Schools’ Palm Beach Campus Wins Top Prize at Palm Beach Regional Science Exhibition

American Heritage Schools achieved yet another remarkable victory at the Palm Beach Regional Science and Engineering Fair held at Safe Schools Institute in Boca Raton. For two years, 15 of the 30 high

Read More
Mothers Against Drunk Driving Holds Annual Walk Like MADD & MADD Dash Fort Lauderdale

The event is held in over 90 cities in the U.S.

Read More
Solarback and Changing Lives of Boca Raton Hosts Beach Cleanup

The event honored Global Recycling Day on March 18.

Read More
Savor Soflo Culinary Experience Returns to Hollywood Beach

The event showcases South Florida’s dynamic hospitality and cuisine scene.

Read More
Other Posts
Stitch Lab’s Three-Day Fashion Pop-up Makes Comeback to Miami Design District

The event serves as a launching pad for Latin American fashion.

Read More
Diversity Honors at Seminole Hard Rock Hotel & Casino Unveils Honorees

Groundbreaking and internationally acclaimed recording icon Belinda Carlisle will be among the recipients.

Read More
Hallandale Beach Event Series Seeks New Restaurants and Additions

The lineup is part of the South Beach Wine & Food Festival, which has raised over $37 million for the Chaplin School of Hospitality & Tourism Management at FIU.

Read More

Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.