Doug Levine is on a Wynwood selling spree, listing the majority of a three-story office building after recently unloading a trio of properties in the trendy Miami neighborhood.
The Crunch Fitness founder placed the top two floors of Wynwood Sky Office Building at 1900 Northeast Miami Court on the market with an asking price of $27.9 million, an online brochure shows. The first floor, owned by Los Angeles-based investor Mark Markos, is not for sale.
Tony Arellano and Devlin Marinoff with Dwntwn Realty Advisors are handling the listing and previously sold the building to Levine.
The 58,500-square-foot warehouse was converted into an office building last year. Levine’s portion of Wynwood Sky spans 40,000 square feet that is fully leased after eight tenants signed short-term agreements last month, according to the brochure.
Tenants include Monster Energy, Aroma 360, Super Caddy, Seitrack US and Building Drops. The annual rent roll is $2 million with a net operating income of $1.4 million. By 2034, the net operating income is estimated to grow to $2.6 million a year, according to Dwntwn Realty Advisors.
The first floor, owned by Los Angeles-based investor Mark Markos, is not for sale. In 2020, Levine sold the first floor to Marko for $7.5 million.
Source: The Real Deal
