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WNTWN Realty Advisors, a leading commercial real estate brokerage firm in Miami, has successfully brokered the $23.5 million sale of a fully leased mixed-use retail property in Wynwood's Arts District to NYC investor Eric Benaim. This transaction highlights DWNTWN's expertise in navigating complex deals and driving high-value transactions in Miami's vibrant market.

    The property, located at 2320-2328 North Miami Avenue & 36-38 NW 24th Street, spans 25,855 square feet on a 31,500-square-foot lot. With zoning for up to 12 stories and 108–162 residential units or 216–324 hotel keys, it offers substantial development flexibility.

    Devlin Marinoff, Co-Founder and Managing Partner of DWNTWN Realty Advisors, commented on the transaction: "This sale showcases Miami's urban core real estate market's continued strength. Our team's deep understanding of Wynwood's unique zoning and development potential allowed us to successfully navigate this complex deal."

    Key features of this commercial real estate sale include:

    * A 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 expertise by representing both the buyer and seller in this intricate transaction. Their comprehensive knowledge of Wynwood's evolving landscape 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.