DWNTWN Realty Advisors brokered the $23.5 million sale of a fully leased, mixed-use retail property in Miami’s Wynwood Arts District to NYC investor Eric Benaim. By representing both buyer and seller, DWNTWN continues to drive high-value commercial real estate transactions in Miami’s vibrant market.
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DWNTWN Realty Advisors, Miami's premier commercial real estate brokerage firm, has successfully facilitated a significant $23.5 million commercial real estate transaction in Miami's vibrant Wynwood neighborhood. The sale of this prime mixed-use retail property to New York City-based investor Eric Benaim underscores DWNTWN Realty Advisors' continued dominance in Miami's dynamic real estate market.
The property, strategically located at 2320-2328 North Miami Avenue & 36-38 NW 24th Street, encompasses 25,855 square feet of building space on a 31,500-square-foot lot. Zoned T5-O & T6-8-O, it offers substantial development flexibility, including the potential for up to 12 stories and 108–162 residential units or 216–324 hotel keys.
Devlin Marinoff, Co-Founder and Managing Partner of DWNTWN Realty Advisors, commented on the transaction: "This $23.5 million sale in Wynwood exemplifies the continued strength and appeal of Miami's urban core real estate market. Our team's deep understanding of Wynwood's unique zoning and development potential allowed us to navigate this complex transaction successfully, bringing value to both the buyer and seller."
Key features of this Miami Wynwood commercial real estate sale include:
- Fully leased property under NNN terms with leases expiring in 2027
- Significant upside potential due to under-market rents
- Prime location near high-profile neighbors such as Uchi, KYU, and Warby Parker
- Existing liquor warrant, enhancing appeal for retail or hospitality businesses
DWNTWN Realty Advisors demonstrated their unparalleled expertise by representing both the buyer and the seller in this intricate transaction. Their comprehensive knowledge of Wynwood's evolving landscape and future development prospects was crucial in facilitating a deal that benefited all parties involved.
This sale reflects the ongoing transformation of Wynwood from an industrial area to a thriving hub for art, fashion, and technology industries. The neighborhood's growing appeal for tech companies and creative businesses drives both commercial and residential demand, making it an increasingly attractive market for real estate investors.
For a detailed case study of this Miami Wynwood commercial real estate sale, visit https://miamicrebrokers.com/miami-wynwood-commercial-real-estate-sale/.
About DWNTWN Realty Advisors
DWNTWN Realty Advisors, founded by Devlin Marinoff and Tony Arellano, is the leading commercial real estate brokerage firm in Miami, specializing in leasing, investment sales, creative solutions, and advisory services for emerging urban core markets. With a track record of over $1 billion in closed transactions since inception, DWNTWN Realty Advisors has established itself as a market leader in Miami's commercial real estate sector. Their motto, "Density is DWNTWN's Destiny," reflects their commitment to urban core development and investment.
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