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The big Zillow disconnect in Wynwood

News that major developers, including Related Group, are moving into Miami’s Wynwood area made me curious about what’s for sale there when it comes to existing residential.

What I found was a shocking disconnect between what owners are asking and what Zillow thinks the properties are worth. The neighborhood has small dated properties, but that isn’t stopping asking prices of $1 million and up.

Here are some examples:

  • 276 NW 31st Avenue: The asking prices is $1.2 million for a 1,591-square-foot duplex that has two two-bedroom, one bath units. Zillow says it’s worth $299,866. It has been listed for 169 days on Zillow.
  • 159 NW 31st Street: The asking price is $700,00 for this two-bedroom, one bath. Zillow says it’s worth $320,352. It has been listed for439 days.
  • 3411 NW 1st Avenue: The asking price is $1.25 million for a 930-square-foot single family home with 2 bedrooms and 1 bathroom. The asking price is $1.25 million, but the Zillow estimate is $266,362.
  • 225 NW 34th Terrace: The 1,634-square-foot property has a single-family home and a smaller separate residence. There’s no description of the number of bedrooms. It’s listed at $950,000 and Zillow estimates it’s worth $324,203. The listing says it won’t last, but it’s been listed for 259 days.

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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.