Crunch Fitness Founder Doug Levine Sells Three Prime Wynwood Commercial Properties for $23.5 Million

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."

Gridline Properties Represents Seller And Buyer In Sale Of Ebb & Flow Retail Strip Center In Miami's Little River District

Ebb & Flow, a retail strip center in Miami’s Little River District, has sold for $18.15 million, marking one of the largest sales in the neighborhood, testifying to the areas growth the progress. Ebb & Flow is a unique retail strip center comprised of two buildings on two lots measuring 32,000 square feet and 81,224 square feet. The property closed on July 22 for $18.15 million and is located at 8200 NE 2nd Ave., and 201 NE 82nd St., Miami, FL 33138.

Both sides of the all-cash transaction were overseen by Gridline Properties Broker and Principal Alfredo Riascos. The seller was Thomas Conway of River Esquinas, LLC, and the buyer was Doug Levine, founder of Crunch Fitness and CEO of commercial real estate development firm Big Move Properties. Prior to the successful sale, Gridline Properties assisted the seller with leasing its retail spaces ensuring the property for future success.

The Ebb & Flow property sits in the heart of Little River’s Uptown District, one of Miami’s most exciting and emerging neighborhoods. The strip houses Primal Fit, Eyebrow King, La Santa Taqueria, Salon Dahlia, Tran An Vietnamese Eatery, and Off Site Nano-brewery & Kitchen—exciting tenants that have received culinary, fitness, and beauty recognitions. Additionally, the T6-8-O zoning for the property allows for the future development of 280 residential units offering the possibility of developing a mixed-use space.

“We are excited to be involved with transactions that continue to drive progress and innovation to Little River’s Uptown District, one of Miami’s most exciting neighborhoods," said Riascos. “Representing both the seller and buyer in this large of a sale proves to be as satisfactory as it is complex—yet both parties come out on top to serve this thriving community that we are honored to be a part of.”

A hub for re-adapted industrial buildings, the Little River Business District has attracted an array of creative and design-oriented businesses that have spontaneously identified the surrounding neighborhood as one of Miami’s most up-and-coming districts. It is home to a wide variety of businesses, tenants, and owners that have transformed one of Miami's oldest industrial areas into a neighborhood that promotes creativity, design, and innovation.