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Hundreds More Residents Incoming: Wynwood Haus Begins Pre-Leasing

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Get ready for several hundred more residents in Miami’s urban core: Wynwood Haus has announced pre-leasing.

The 20-story apartment tower, which broke ground in June 2021, is set to welcome its first residents by year’s end.

Wynwood Haus will include 224 apartments, 5,375 square feet of ground floor commercial space. and 222 parking spaces.

Prices listed on the leasing website range from $2,734 for a 679 square foot 1-bedroom, to $3,955 for a 936 square foot 2-bedroom. There will also be studios available starting at 394 square feet.

The developers say the project rivals luxury high-rises, with 10-foot ceilings, intricate wood paneling, concrete accents, and luxe lighting.

The School Board Metromover station is a short walk away.

Black Salmon and LD&D, in partnership with Bridge Investment Group, are the developers.

Corwil Architects designed the building, with interiors by LD&D’s design division. Landscape design is by Enzo Enea.

 

Source:  The Next Miami

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Wynwood Norte Condos Launches Sales

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Alexis Bogomolni’s ABH Developer Group is launching sales of Casa Wyn, the first in his series of planned residential projects in Miami’s Wynwood Norte.

The 24-unit Casa Wyn, at 355 Northwest 31st Street in Wynwood, will have studio and one-bedroom units, according to a press release. Prices start at $359,000, and condos will range in size from 401 square feet to 695 square feet.

Construction is set to begin in early 2024, and is expected to be completed in 2025, the release shows. The planned building is 66 percent pre-sold, according to a spokesperson for the developer.

Owners will be able to rent the units out as short-term rentals.

Casa Wyn was designed by Miami-based Modis Architects, and will include a rooftop garden and grilling area.

 

Source:  The Real Deal

 

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Related, W5 Group Begin Leasing Efforts At Wynwood’s First Co-Living Project, i5 Wynwood

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Related Group, in partnership with W5 Group, announced Wynwood’s first co-living project, i5 Wynwood.

With pre-leasing beginning in November and completion expected in January 2024, this project redefines the rental residence experience in Miami, offering 217 fully furnished private suites starting in the $1,800’s.

“With our finger on the pulse of South Florida’s dynamic real estate landscape, Related Group in partnership with W5 Group, continues to redefine the meaning of modern living,” said Jon Paul Perez, President at Related Group. “Whether a resident is a young professional starting their career, an artist inspired by Wynwood’s creative scene, or an individual looking for an affordable, community-oriented living experience, i5 Wynwood provides high-quality housing at a reasonable price point.”

 

“i5 Wynwood represents a bold and forward-thinking approach to addressing the growing demand for urban living spaces in Miami, where rising housing costs have posed challenges for many residents,” said Chief Investment Officer of W5 Group, Raphael Sidelsky. “This unique co-living concept is designed to provide a vibrant, community-focused living environment that offers affordability without compromising on quality. W5 Group invests in cutting-edge, affordable, and community-oriented residential projects that provide exceptional amenities, design, technology and energy efficiency for residents. That’s exactly what i5 Wynwood delivers. We conceived of and helped design these highly efficient units based on our experience with micro-units, student living, multifamily and co-living projects in other similar dynamic urban environments.”

Located at 51 NW 28th Street, in the heart of Miami’s trendsetting Wynwood neighborhood, the nine-story i5 Wynwood offers residents accessible housing options with unmatched access to award-winning restaurants, bars and trendy boutiques as well as the rich assortment of art galleries, studios and exhibition spaces for which the area is known.

Designed to prioritize flexibility for urban dwellers, i5 Wynwood is made up of 217 suites, each with a private bathroom and a shared living room, dining room and kitchen, spread across 63 fully furnished apartments. Rental rates begin at $1,895 per private suite and include access to a communal kitchen as well as modern and stylish shared living and dining spaces. Residents can choose between 3-bed/3-bath and 4-bed/4-bath apartments, which have been fully furnished with queen-size beds, writing desks, multiple shelving units, trendy light fixtures, dining tables and chairs, couches, coffee tables, entertainment consoles and flat-screen TVs.

With architecture by world-renowned Arquitectonica and interiors by Miami-based designer Michael Wolk, the name behind the famous Porsche Design Tower and St. Regis Resort Bal Harbour, i5 Wynwood offers a high-design lifestyle at an unmatched price. Throughout the building’s interiors, Wolk sought to embrace the artistic spirit of the Wynwood neighborhood by creating a fresh, colorful take on the mid-century modern style. Bold colors and patterns compliment furniture rooted in functionality, clean lines and simplicity.

The vision for i5 Wynwood goes beyond traditional co-living developments by offering a curated amenity package on par with Related’s and W5 Group’s other award-winning communities. Highlights include meticulously designed shared spaces such as a sprawling entertainment center, equipped with a premium sound system and comfortable seating for watching sports and movies as well as a game room with a ping pong table and lounge seating. i5 Wynwood will feature over 3,900 sq. ft. of ground-floor retail space surrounding a 6,600 sq. ft. shaded central courtyard, along with a rooftop pool with sweeping views of the city, an indoor and outdoor gym, co-working and meeting spaces, adding to the vibrant atmosphere of the neighborhood and provide convenient shopping and dining options for both residents and visitors.

On the rooftop level, residents can utilize the coworking lounge, with Room® work booths and private rooms, before enjoying the resort-style pool surrounded by comfortable lounge chairs, cabanas, picnic tables, sunshades, a grilling area and outdoor games. Additional rooftop amenities include a fitness center with the latest equipment, free weights and an outdoor turf-covered fitness lawn. A lobby concierge, property-wide security system, mailroom with smart lockers and on-site designated resident parking further enhance convenience and security for residents.

The property will also feature an assortment of museum-quality art from the internationally acclaimed Jorge M. Perez Contemporary Art Collection, including a site-specific mural by artist, Jing Wei inspired by the community-oriented nature of the project. The murals surround the building on the east, south, and west elevations.

 

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Clevelander Submits Plans To Turn South Beach Party Spot Into Housing

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The owners of the Clevelander Hotel and Bar submitted plans to the city of Miami Beach on Monday to transform the famous party spot into a restaurant and 18-story housing development, shorter than the 30 stories first floated last month but substantially taller than other buildings nearby on Ocean Drive.

The proposal calls for a 200-foot tower above a ground-floor restaurant where the Clevelander currently stands. The project would have 137 residential units, 55 of which would be designated as workforce housing.

Monday’s submission comes more than six weeks after Jesta Group announced its intention to redevelop the Clevelander and adjacent Essex House hotel under Florida’s Live Local Act, which lets developers circumvent local height and density regulations if they commit to designating 40% of new housing units as affordable to renters earning up to 120% of the area median income.

 

Source:  Miami Herald

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Developer Under Contract To Buy 17,000-SF Lot In Wynwood For $7.7 Million

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Clara Homes is the latest developer to seek a piece of Wynwood.

The Miami-based company is under contract to buy a 17,000-square-foot lot for $7.7 million, with plans to build a luxury rental building on the site under Florida’s newly enacted Live Local Act, according to a company spokesperson. The sale is expected to close by the end of 2023.

The parcel holds a single-story retail building that’s home to the Austin Burke men’s clothing store at 2601 NW Sixth Avenue, located between the Interstate 95 and the 545 Wyn office building,

The clothing retailer owns the property and will remain there for now, as the deal includes a sale leaseback for one year. Austin Burke purchased the property, completed in 1967, for $340,000 in 1988, according to property records.

Clara Homes plans to build a 152-unit luxury rental building with ground-floor retail designed by Miami architectural firm Kobi Karp. The developer plans to utilize a provision from the Live Local Act, a state housing law enacted earlier this year, that allows added density in return for designating at least 40 percent of apartments as workforce housing.

 

Source:  Commercial Observer

 

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Sony Music Coming To Wynwood

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Sony Music has signed the largest office lease in Wynwood so far this year, proving creatives want to partake in the renaissance there.

Sony will join other creative companies including TikTok, Spotify and Live Nation.

Sony Music, known formally as Sony Music Entertainment, is going to take 45,000 square feet over two floors in the 10-story office building 545 Wyn at 545 NW 26 St., according to multiple sources familiar with the deal. The company is expected to move in by summer 2024.

Sony intends to consolidate a few offices around South Florida into that one building in Wynwood.

Blanca Commercial Real Estate handles commercial leasing activity at the 545 Wyn office building, and Newmark executive managing directors Lance Benson and Maury Gentile represented Sony Music in its lease deal.

 

Source:  Miami Herald

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29 Wyn Apartment Project Sells For $544K Per Unit

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Berkshire Residential Investments bought the recently completed 29 Wyn apartment complex in Miami’s Wynwood neighborhood for $135 million.

The Pérez family’s Related Group and Bob Zangrillo’s Dragon Global Management sold the pair of buildings with 248 units, combined, at 2918 and 2828 Northwest First Avenue to Boston-based Berkshire Residential, according to records and real estate database Vizzda.

The deal breaks down to $544,355 per apartment.

Completed this year, 29 Wyn consists of a 12-story building and an eight-story building separated by Northwest First Avenue. It includes 28,400 square feet of ground-floor commercial space. The complex offers studios with monthly rents starting at $2,420; one-bedroom apartments starting at $2,700; two-bedroom apartments starting at $3,494; and three-bedroom apartments for $6,282, according to 29 Wyn’s website.

Related bought the roughly 1.3-acre development site in 2016 for $12 million, records show.

 

Source:  The Real Deal

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Miami Beach To Consider Mixed-Use Development Deal For City Land

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On the city parking lot next door, the owner of Miami Beach’s Washington Park Hotel has proposed to create a mixed-use project.

On October 18, the City Commission will consider how to move forward with WPH Properties LLC‘s offer for the 14,694-square-foot parking lot at 1000 Washington Ave. It may decide to suggest that municipal employees make a contract, look for additional bids, or decide not to proceed with any proposal at all.

For $43.75 million, WPH Properties purchased the nearby Washington Park Hotel in the beginning of 2021. The business made the city an unsolicited bid for the parking lot later that year. The preliminary terms of a development agreement have been considered by city employees.

The developer wants to pay $2 million over the first three years, as well as $470,000 annually with a 2% annual increase, to lease the lot from the city for 99 years. The property was evaluated for $8.8 million, according to the city.

WPH Properties presented their ideas for a seven-story structure that would house 1,75 parking spaces, including one level of underground parking, 4,065 square feet of commercial space on the ground floor, and 33,640 square feet of office space. On the roof would be an amenity deck with a pool.

The term sheet does state that, contingent upon the developer’s choice of business plan, the middle three stories of office space—roughly 25,000 square feet—might be substituted with workforce housing apartments. Still, the applicant wants to keep the office space on the top floor regardless.

 

Source:  SFBJ

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Neology Life’s No.17 Residences Allapattah Scores $31.5M Refi

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Berkadia secured a $31.456 million loan to refinance No.17 Residences Allapattah, a 192-unit attainable luxury apartment rental building in the Fruit Packing District of Allapattah.

Senior Managing Director Charles Foschini, Managing Director Christopher Apone, and Associate Director Shannon Wilson of Berkadia South Florida secured the financing on behalf of Neology Life Development Group, a lifestyle-driven residential and commercial real estate firm, led by Lissette Calderon, that specializes in the transformation of overlooked and undervalued communities into vibrant urban neighborhoods.

Fannie Mae originated the 10-year loan with five years of interest-only.

Located at 1569 NW 17th Avenue, No.17 Residences Allapattah was completed in April 2021 and leased up in record time. It offers one-, two-, and three-bedroom apartments ranging from 600 square feet to 1,125 square feet. Individual units feature smart home technology, open floor plan kitchens, stainless steel appliances, quartz countertops, washer and dryer, full-length windows, balconies, and walk-in closets. Building amenities include an expansive urban park, lobby lounge with co-working and social spaces, a TV lounge area, art-inspired pool deck, pool side cabanas, indoor/outdoor clubroom, fitness center, on-demand virtual fitness classes, a rooftop garden with a summer kitchen, an outdoor movie theater, bark park, bike storage, electric car charging stations, a zoom room, on-site parking, and 24-hour secure package rooms.

The property is situated in Miami’s centrally located Allapattah neighborhood, which is just a short walk, bike ride, drive or public transit trip from some of Miami’s largest employment centers, including the Health District, Civic/Government Center, Downtown Miami, Wynwood< and the Brickell Financial district, and offers easy access to the Dolphin Expressway and I-95. As home to the flagship location of Superblue, the Rubell Museum and El Espacio, Allapattah has quickly become an important arts and culture destination.

 

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PMG Buys Wynwood Development Site From Lndmrk For $20 Million

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Property Markets Group (PMG) acquired a development site in Miami’s Wynwood neighborhood for $20 million, property records show.

The 1-acre assemblage spans about half a block at 112 NW 30th Street and is home to three single-family homes in the Wynwood Norte Neighborhood Revitalization District. Two years ago, Miami commissioners approved zoning changes to the area in hopes of transforming warehouses into office and apartment-oriented mixed-use projects.

The seller, Lndmrk Development, assembled the seven lots last year, paying $12.5 million in total. PMG plans to erect a condo development with Lndmrk coming on as a joint venture partner, according to a source familiar with the deal.

 

Source:  Commercial Observer

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