Miami-based real estate investor and Crunch Fitness founder Doug Levine has sold three prime Wynwood retail and office buildings to Eric Benaim, the principal of Benaim X Partners, for $23.5 million. Situated at 2324-2328 North Miami Avenue, 38 Northwest 24th Street, the three buildings total 25,855 square feet and are fully occupied. Additionally, the buildings offer approximately 215,000 square feet of development rights. The buildings date back to their original completion in 1928 and 1950. Their recent sale was orchestrated by Dwntwn Realty Advisors, with brokers Devlin Marinoff and Tony Arellano overseeing the listing.
Currently home to tenants such as The Hotel Collection, Backdoor Monkey nightclub and restaurant, a smoke shop, Aroma 360 and Amor Miami Restaurant and lounge, the buildings occupy a coveted position directly across from The Oasis in the heart of Wynwood. With thousands of residential units slated for construction in the vicinity, the location stands poised to become a premier destination for residents and visitors alike.
Eric Benaim and Benaim X Partners have their sights set on preserving the property's historic character while infusing it with new life. With plans to retain the existing structures for the foreseeable future, Benaim intends to enhance the site's cultural significance by commissioning murals to be created for the buildings, further cementing Wynwood's reputation as an artistic destination.
"Benaim X Partners' acquisition of these buildings marks a pivotal moment in contributing to the ongoing revitalization of Wynwood," noted Benaim. "As someone with experience in emerging neighborhoods, I view Wynwood today much like Williamsburg, Brooklyn, a decade ago. Wynwood holds immense promise for both residents and visitors, offering boundless opportunities for living, playing, working, and shopping. We look forward to doing additional deals in Miami and continuing to contribute to the wave of innovation and creativity."
