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JV Acquires 32K SF Ground Floor Retail Space In Wynwood For $700 PSF

Society Wynwood_Image Courtesy of Boardroom PR 1170x435

Ben Mandell, Alex Karakhanian and Michael Simkins joined forces to buy the ground-floor retail space of Society Wynwood, an almost completed mixed-use project,

A joint venture between Mandell’s Tricera Capital, Karakhanian’s Lndmrk Development and Simkins’ Lion Development Group paid $22.5 million for 32,000 square feet at the base of the nine-story development at 2431 Northwest Second Avenue that is currently under construction, a press release states.

The deal breaks down to $703 per square foot.

Society Wynwood’s developers, Miami and New York-based Property Markets Group, or PMG, and Toronto-based Greybrook, are the sellers.

Roughly 50 percent of Society Wynwood’s ground-floor retail space is pre-leased to Starbucks, Nacho Daddy, Chama De Fogo Brazilian Steakhouse and I Scream Gelato, the release states.

Society Wynwood will also almost 300 modern residential units, including co-living units, and a private parking garage.


Source:  The Real Deal

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PMG, Greybrook Begin Preleasing Society Wynwood Mixed-Use Project

Society Wynwood_Image Courtesy of Boardroom PR 1170x435

PMG and Greybrook have begun preleasing at Society Wynwood, a mixed-use development underway at 2431 N.W. 2nd Ave. in Miami’s Wynwood district.

The property will include 318 residential units and 50,210 square feet of commercial space that will include announced tenants Bodega Taqueria, Dave’s Hot Chicken, Starbucks, Chama De Fogo and Nacho Daddy.

Amenities at Society Wynwood will include a rooftop pool deck featuring a gym, full-service restaurant and hot tub. Other amenities, which will total 82,000 square feet, include multiple art installations, a coworking lab with private conference rooms, modern gym and fitness studio, a picnic courtyard, social lounges, yoga lawn, smart package lockers and app-based keys.

Society Wynwood will be Miami-based PMG’s first Miami project delivered to residents under the Society Living brand portfolio. First move-ins are slated to begin in February 2024. Rental rates will range from $ 1,830 to $5,525 per month, according to


Source:  RE Business

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