Seven Valleys Acquires Wynwood Development Site From RedSky And JZ Capital For $26.06 Million

An entity affiliated with the New York-based RedSky Capital and London-based JZ Capital Partners has sold a 1.25 acre development site located at 2700 NW 2nd Avenue in Wynwood for $26.06 million. The buyer was the New York-based real estate investment and development firm Seven Valleys. The trade equates to $479 per square foot dirt value and there is currently a 2,576 square foot structure on the property. The joint venture initially acquired the property in 2016 from Goldman Properties for $30.75 million and had proposed the Forum, a 144,781 square foot mixed-use development with office and retail space designed by Enrique Norten of Ten Arquitectos.