Miami Beach’s former mayor Philip Levine has cashed in on a Wynwood complex known as the Whale & Star Building.
An entity managed by Levine sold three warehouses for $24 million. Combined, the buildings at 2215 Northwest First Place total 27,400, according to a press release. The deal breaks down to $623 dollars per square foot.
The buyer is a Delaware LLC named Whale & Star Wynwood Owner.
Laura Valente with Global Luxury Realty and Alyssa Morgan with the Inside Network represented the buyer. Tony Arellano and Devlin Marinoff with DWTN Realty Advisors and Miami-based attorney Charles Ratner represented Levine.
The full-block property was listed for $29 million.
The existing complex can be repurposed into retail storefronts with glass walls. However, some of the site is primed for redevelopment, according to a listing. A developer could tear down the southern portion of the complex and replace it with a hotel with 265 rooms to 388 rooms or an apartment building with 132 units to 194 units. The zoning also allows for an eight-story office building, the offering states.
Source: The Real Deal