The Brooklyn-Based LivWrk Acquires Wynwood Assemblage For $38.86 Million
The Brooklyn-based developer LivWrk has made a splash in Wynwood with the acquisition of a 2.45 acre assemblage for $38.86 million. The acquisition was financed with a $28.44 million mortgage provided by the Los Angeles-based Thorofare Asset Based Lending REIT Fund V.
The Brooklyn-based developer LivWrk has made a splash in Wynwood with the acquisition of a 2.45 acre assemblage for $38.86 million. The acquisition was financed with a $28.44 million mortgage provided by the Los Angeles-based Thorofare Asset Based Lending REIT Fund V. LivWrk is led by Asher Abehsera who founded the firm in 2013.
LivWrk acquired a 1.16 acre site from East End Capital where they had planned to develop the Foyer, a mixed us project with residential, office and retail components. LivWrk acquired the site at 2400-2418 N Miami Ave. and 29 NW 24th St. from East End Capital for $18.51 million and in a separate deal East End Capital also sold LivWrk 2500 N Miami Ave. and 33 NW 25th St. for $6.5 million. To complete the assemblage LivWrk also acquired 48 NW 25th St. from 3 CI Holdings for $13.85 million.
East End Capital had acquired the 2400-2418 N Miami Ave. site for $6.25 million in 2015 and the 2500 N Miami Ave. site in 2014 for $4 million. 3 CI Holdings had paid $17 million for the 48 NW 25th St. property.
Miami’s Wynwood Arts District neighborhood has been one of South Florida’s hottest real estate markets. Several big-name companies have made Wynwood their home, such as Spotify, Live Nation and Founders Fund; additionally, new zoning has attracted many multifamily developers. AMLI Residential recently broke ground on AMLI Wynwood, one of the largest mixed-use multifamily developments to ever break ground in Wynwood. A development partnership led by David Edelstein’s TriStar Capital and RAL Development just closed on the final piece of their 72,000 SF Wynwood assemblage where an office campus is planned. A development partnership between L&L Holding Company, CARPE Real Estate Partners, and Fortis Design + Build also recently revealed 29N, a mixed-use project which feature rental apartments, office space, ground floor retail and micro retail. Earlier this summer the Los Angeles-based Black Lion Investment Group acquired the class A retail property Wynwood Arcade from East End Capital for $13.25 million. The Kobi Karp-designed The Gateway at Wynwood class A office building is also nearing delivery and has begun signing leases.
TriStar Capital and RAL Development Acquire Final Piece Of Wynwood Assemblage For $13 Million
David Edelstein’s TriStar Capital and RAL Development, led by Robert Levine, have closed on the final piece of their 72,000 SF Wynwood assemblage where an office campus is planned. The development partnership paid $13 million for a 31,250 SF site at 2701 NW 5th Ave.
David Edelstein’s TriStar Capital and RAL Development, led by Robert Levine, have closed on the final piece of their 72,000 SF Wynwood assemblage where an office campus is planned. The development partnership paid $13 million for a 31,250 SF site at 2701 NW 5th Ave., financed by a $12.1 million mortgage provided by Comerica Bank. The property currently has a 20,239 SF building that will be demolished to make way for an office campus that includes the adjacent 39,732 SF lot at 2661 NW 5th Ave. which TriStar Capital acquired in 2018 for $18 million. Combined the assemblage totals 70,932 SF and cost $31 million.
The developers are planning to build a modern, technologically advanced office campus targeted at Miami’s fast growing tech sector. The campus will feature two Arquitectonica-designed mixed-use 8-story office towers with roughly 300,000 SF of Class A office space.
Images via TriStar Capital
Mixed-Use Development '29N' Revealed In Wynwood At Former Site Of Rubell Family Collection
A development partnership between L&L Holding Company, CARPE Real Estate Partners, and Fortis Design + Build have revealed 29N, a mixed-use project which feature rental apartments, office space, ground floor retail and micro retail.
A development partnership between L&L Holding Company, CARPE Real Estate Partners, and Fortis Design + Build have revealed 29N, a mixed-use project which feature rental apartments, office space, ground floor retail and micro retail. The project is to be developed on the former site of the Rubell Family Collection at 95 NW 29th St. and is designed by Gensler Architects.
29N will bring 523 residential units; 200,618 SF of office space; 26,372 SF of retail space; and 668 parking spaces. Apartment units would range from 504 SF studios to 1,093 SF two-bedroom residences. The project will also feature 30,000 SF of rooftop space and 22,000 SF of open space on the ground floor with a plaza and pedestrian promenade which is open to the public and designed by James Corner Field Operations. The project is currently under review by the Wynwood Design Review Committee.
The Gateway at Wynwood Signs First Office Lease With Oncology Biopharmaceutical Company Veru Inc.
The Gateway at Wynwood has signed its first office lease as the office building is nearing completion. The developer of The Gateway at Wynwood, R&B Realty Group just signed an eight-year lease with Veru Inc. Veru is an oncology biopharmaceutical company which develops medicines for the management of prostate and breast cancers.
The Gateway at Wynwood has signed its first office lease as the office building is nearing completion. The developer of The Gateway at Wynwood, R&B Realty Group just signed an eight-year lease with Veru Inc. Veru (NASDAQ:VERU) is an oncology biopharmaceutical company with a focus on developing novel medicines for the management of prostate and breast cancers. The company will occupy 12,155 SF of space on the border of the iconic Wynwood and Midtown Miami neighborhoods. The new lease will more than triple Veru’s current office space.
R&B Realty was represented by Colliers South Florida’s Executive Managing Director Stephen Rutchik, Director Tom Farmer and Director Tyler de la Pena. Veru was represented by JLL’s Vivian Gonzalez.
Scheduled to take occupancy in Q1 2022, The Gateway at Wynwood will be Veru’s new Miami-based global headquarters, moving from an existing office space in Wynwood. Veru has also expressed interest in taking occupancy as soon as The Gateway at Wynwood, which is currently under development, is delivered. The project, being developed by New York-based R&B Realty Group, is scheduled for completion in Q4 of 2021.
“We are excited that Veru chose our new Class A office building for their global headquarters,” said Shelby Rosenberg, R&B Realty’s Head of Development and Acquisitions, Asset and Property Manager, US Portfolio. “This lease highlights the increasing demand for quality office space in the Wynwood area. The Gateway at Wynwood is uniquely positioned with unmatched accessibility to the Midtown and Wynwood neighborhoods, and all of the amenities they have to offer, as well as proximity to the bay and downtown Miami.”
The Gateway at Wynwood will offer about 195,000 SF of leasable Class A office space and nearly 25,900 SF of prime street-level retail space. Designed by renowned Architect Kobi Karp, the environmentally responsible building features flexible floorplans, a private rooftop terrace, gym, unique bay window system, 24/7 on-site security, vibrant exterior cladding, and 2:1,000 on-site covered parking.
Veru, which also has offices in London and in Malaysia, is focused on the development and commercialization of novel medicines for management of two of the most prevalent cancers globally – prostate cancer and breast cancer. Based on positive clinical trial results, Veru also has an agent being evaluated in an ongoing Phase 3 clinical trial for the treatment of hospitalized patients with moderate to severe COVID-19 who are at high risk for acute respiratory distress syndrome. Veru’s new lease at The Gateway at Wynwood will triple the company’s existing Miami footprint to accommodate its rapid growth and planned future growth.
“Veru is a biopharma company dedicated to the development and commercialization of novel cancer drugs for prostate and breast cancers. As a high-tech company, we view both The Gateway at Wynwood and the Wynwood neighborhood itself as the perfect fit for Veru, as both are also cutting edge,” said Dr. Mitchell Steiner, Chairman, President and CEO. “We believe that Wynwood’s eclectic mix of commerce, culture, restaurants and technology provides the ideal location to enable Veru to continue to grow and flourish as a global leader in oncology therapeutics.”
Wynwood has developed into a new office submarket in Miami, creating competition for more established office markets such as downtown Miami, Brickell, Aventura and Coral Gables. Several big-name companies have made Wynwood their home, such as Spotify, Live Nation and Founders Fund. Other companies looking at the area include Google, Dentsu and other creative marketing agencies.
For more information about commercial sales or leasing in Wynwood, private showings or availability/ pricing information please fill out the form below:
AMLI Residential Breaks Ground On The Arquitectonica-Designed Multifamily Development AMLI Wynwood
AMLI Residential has broken ground on AMLI Wynwood, a mixed-use multifamily development which is one of the largest projects to break ground in the trendy neighborhood as new zoning has attracted multifamily developers.
AMLI Residential has broken ground on AMLI Wynwood, a mixed-use multifamily development which is one of the largest projects to break ground in the trendy neighborhood as new zoning has attracted multifamily developers. AMLI Wynwood is designed by Arquitectonica and will rise 8-stories, spanning 550,000 SF of total development. AMLI Wynwood will feature 316 luxury apartment units with 33,821 SF of ground floor commercial space and 388 parking spaces. Amenities will include a rooftop pool deck, yoga lawn, dog park and barbecue area. John Moriarty & Associates is the general contractor for the project. AMLI Wynwood is located at 70 NW 25th St. on a 2.18-acre site which AMLI Residential acquired for $35 million in January 2020 from David Edelstein.
Power Dinner Council: Design And Development Presented by PROFILEmiami and Kobi Karp
On Wednesday, June 23rd, PROFILEmiami hosted Power Dinner Council: Design and Development, an intimate, invite-only omakase dinner bringing together some of South Florida’s leading real estate developers, architects, builders, investors and designers.
On Wednesday, June 23rd, PROFILEmiami hosted Power Dinner Council: Design and Development, an intimate, invite-only omakase dinner bringing together some of South Florida’s leading real estate developers, architects, builders, investors and designers. The evening was hosted by PROFILEmiami Co-Founders Katya Demina and Demetri Demascus and Kobi Karp Architecture & Interior Design Principals Kobi and Nancy Karp.
The evening was attended by an exclusive group of top real estate industry leaders and executives including Kobi Karp, Louis Birdman, Dan Kodsi, Taylor Collins, Allen Morris, Scott Sherman, Avra Jain, Kevin Venger and Ronny Finvarb, amongst others. Guests had the opportunity to network and share their experiences developing and building in South Florida through thoughtful discourse, while forging new relationships with senior executives.
Guests enjoyed an omakase dinner curated by Chef Amir Anvari of Omakase Direct in a unique, architecture studio transformed private restaurant setting. Guests left with signed Assouline Kobi Karp books, kobi Karp backpacks and gear.
PROFILE's Power Dinner Council is where compelling minds connect to leverage their influence and grow their businesses through shared thought leadership and authentic conversation - the impact of which extends far beyond the evening. Our goal is to provide leaders with related business interests to meet and interact in an intimate, high-end, and unique setting.
The event was also covered by World Red Eye.
Imagery via World Red Eye
'Le Rouge Lounge' Cabaret-Themed Nightclub Opens At Moishe Mana's Mana Wynwood Campus
Le Rouge Lounge, a new luxury, cabaret-themed nightclub, opened June 11 at a new event venue in Moishe Mana’s six acre Mana Wynwood campus. Mana Wynwood’s new event venue , which is located across from the Mana Wynwood Convention Center, is a French-inspired live entertainment venue.
Le Rouge Lounge, a new luxury, cabaret-themed nightclub, opened June 11 at a new event venue in Moishe Mana’s six acre Mana Wynwood campus. Mana Wynwood’s new event venue , which is located across from the Mana Wynwood Convention Center, is a French-inspired live entertainment venue which is the only Miami nightclub with a 360-degree, DJ "in the round" experience.
Led by MANA Common, the Convention Center is also undergoing a series of renovation include increasing the fiber optic capability, enlarging the entryways, adding more public restrooms, and improving service corridors and loading docks. The updates will also improve the flow of attendees and allow the Convention Center to better accommodate events. The renovations are expected to be completed by November.
“We see Wynwood as a prime destination for arts, culture and entertainment,” says Moishe Mana, CEO of Mana Common. “Events are key to breathe life into a neighborhood and sustain its vibrancy. We’re looking forward to unveiling these new improvements that facilitate social and cultural exchanges.”
“Mana Wynwood is a symbol of Miami’s arts and entertainment culture,” says Bruce Fischman, Wynwood Business Improvement District (BID) Board Member, Senior Advisor to Moishe Mana and Mana Common General Counsel. “We’re excited to present renovations that contribute to the neighborhood’s evolution and offer an improved cutting-edge experience to residents and visitors.”
Chase Bank Opens At R&B Realty Wynwood Property Next To The Gateway At Wynwood
Chase Bank has opened a new location at the intersection of trendy Wynwood and Midtown Miami. Chase Bank leased 3,391 SF from R&B Realty Group at 2830 N. Miami Ave. CBRE represented R&B Realty Group in the deal and is currently marketing the remaining 2,175 SF of retail space in the one-story building.
Chase Bank has opened a new location at the intersection of trendy Wynwood and Midtown Miami. Chase Bank leased 3,391 SF from R&B Realty Group at 2830 N. Miami Ave. CBRE represented R&B Realty Group in the deal and is currently marketing the remaining 2,175 SF of retail space in the one-story building. R&B Realty Group is a family-owned real estate investment, management and development firm which is developing The Gateway at Wynwood across the street from the new chase location.
The Chase Bank Wynwood location is well positioned to serve the growing population in Wynwood and the surrounding Edgewater and downtown Miami neighborhoods. Within a 3 mile radius, there is a population of nearly 268,000 residents with an average household income of $57,000. The bank will also benefit from a daytime population of about 345,000 within that radius.
“The fact that Chase chose this building to open a new branch speaks volumes of the location,” said Shelby Rosenberg, who handles acquisitions & development at R&B Realty. “The Wynwood/Midtown area is seeing an influx of businesses and residents moving from across the U.S. while seasoned real estate developers are bringing thousands of new residents to the area. This is where retailers want to be to capitalize on Miami’s renewed interest across the globe.”
R&B Realty, with assets in New York, New Jersey, Ohio and Florida, has played a key role in the evolution of Wynwood. The developer is behind Kobi Karp-designed The Gateway at Wynwood, which will bring nearly 195,000 SF of Class A office space with an 8,500 SF, private rooftop deck, seven floors of office space, five floors of covered parking and nearly 25,000 SF of prime ground-level retail space. The building is currently under construction and scheduled for completion later this year. The Gateway at Wynwood has contributed to the emergence of Wynwood as Miami’s newest office submarket and helped foster a live-work-play environment.
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Black Lion Investment Group Acquires Wynwood Arcade From East End Capital for $13.25 Million
Less than one week after closing on the Amara at Paraiso restaurant property on Biscayne Bay, the Los Angeles-based Black Lion Investment Group has now acquired the luxury class A property Wynwood Arcade from East End Capital for $13.25 million.
Less than one week after closing on the Amara at Paraiso restaurant property on Biscayne Bay, the Los Angeles-based Black Lion Investment Group has now acquired the luxury class A property Wynwood Arcade from East End Capital for $13.25 million. The transaction was overseen by Tony Arellano and Devlin Marinoff of DWNTWN Realty Advisors, who had listed the property for $14.5 million. Wynwood Arcade was 65% leased at the time of sale with trendy tenets such as the popular Salty Donut, Ooh Raw, No. 3 Social, OSME and Edit Mode.
Located at 43-75 NW 23rd St., the 23,000 SF luxury retail property was developed as an adaptive reuse project by East End Capital in 2016. The redevelopment of the former warehouse won numerous architectural awards, including the American Institute of Architects Award of Excellence for Adaptive Re-Use and an AIA Merit Award for Excellence in Architecture.
“This trophy property represents another key investment in Black Lion’s Miami expansion after our recent acquisition of Amara at Paraiso,” said Robert Rivani, President of Black Lion Investment Group.
Rivani is planning transform the Wynwood Arcade with a $1 million renovation led by Kobi Karp Architecture & Interior Design. The renovation and updates will include the addition of outdoor dining areas on the ground floor and rooftop. Rivani is also planning to bring a new nightlife concept to the rooftop.
Wynwood is a must see for tourists and locals and is known for its instagramable murals and one-of-a-kind dining and retail experiences. Conveniently located in the heart of Miami’s Wynwood neighborhood, the property represents a prized parcel of real estate in one of the hottest markets in Florida. Known for its vibrant cultural scene, art, and eclectic nightlife.
Black Lion Investment Group’s portfolio of properties in Florida includes the recently acquired Amara at Paraiso commercial property as well as the renovated Crystal Cove Commons and Brickell Bay Boardwalk. The Los Angeles-based firm recently acquired the Tucson luxury retail center Oracle Wetmore for $38 million.
Imagery via Black Lion Investment Group
For more information about commercial sales or leasing in Wynwood, private showings or availability/ pricing information please fill out the form below:
The Kobi Karp-Designed Class-A Office The Gateway At Wynwood Powering Towards Completion
The Gateway at Wynwood, the newest Class-A office building in Wynwood’s emerging neighborhood and new office submarket, is powering towards completion in the second half of 2021 after topping off in December 2020 at 13-stories.
The Gateway at Wynwood, the newest Class-A office building in Wynwood’s emerging neighborhood and new office submarket, is powering towards completion in the second half of 2021 after topping off in December 2020 at 13-stories. The project, which is located at 2916 N Miami Ave., is being developed by R&B Realty Group and is designed by Kobi Karp. Plaza Construction is the general contractor. The Gateway at Wynwood will feature 195,000 SF of leasable office space, private rooftop terrace and 25,900 SF of retail space on the ground floor.
Wynwood is Miami’s newest and emerging office submarket and a hub for creative and innovative businesses. Many well known companies have already re-located office space to Wynwood including Spotify, WeWork, and Live Nation with other big names including Google, Apple Music and Dentsu looking to move into the area.
For more information about commercial leasing in Wynwood, private showings or availability/ pricing information please fill out the form below:
Bentley Residences Miami hosted the Torcal’s Florida debut, pairing Bentley’s first fully electric production vehicle with a tour of its model residence and private garage.