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Fisher Brothers Bag $118M Loan For Wynwood Project

Fisher Brothers Management can begin construction of an eight-story multifamily project in Wynwood after securing a $117.5 million loan.

An affiliate of Los Angeles-based Canyon Partners provided the construction financing for Wynhouse, a proposed development with 312 apartments, 27,500 square feet of restaurant and retail space and 120 parking spaces, records show. The 1.5-acre development site is the former Miami Rescue Mission headquarters at 2201, 2229 and 2159 Northwest First Court, and 2200 and 2250 Northwest First Avenue.

Designed by Miami-based Nichols Brosch Wurst Wolfe & Associates, the specifics of the 340,394-square-foot project include 107 parking spaces, 10 ground-floor retail stores spanning 24,114 square feet and 8,165 square feet of rooftop amenities which include a pool and lounge. The building surrounds a central courtyard, and the property is bisected by more than 8,000 square feet of public paseo space, open to the public and creating more frontage for retail.

 

Source:  The Real Deal

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300-Unit Apartment Complex Proposed In Miami’s Wynwood

New York-based Fisher Brothers Management has proposed an apartment building with ground-floor retail in Miami’s Wynwood Arts District.

The city’s Urban Development Review Board on July 20 will consider plans for the 1.39-acre site at 2200 and 2250 N.W. First Ave., plus 2201 and 2229 N.W. First Court. It’s the former home of the Miami Rescue Mission.

FBWS Development Senior LLC, an affiliate of Fisher Brothers, purchased the property for $18.6 million in 2021.

The FB Wynwood building would total 359,694 square feet in eight stories, with 308 apartments, 21,724 square feet of retail and 122 parking spaces. The developer would pay $2.2 million to the Wynwood Parking Trust Fund, which promotes parking development in the neighborhood, to reduce the parking requirements at the project.

Source:  SFBJ

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Former Miami Rescue Mission Building Trades In Off-Market Deal, Creating One Of The Largest Contiguous Sites In Wynwood

In an off-market deal, Soho, LLC, an entity managed by The Faith Group, has purchased the former Miami Rescue Mission headquarters building located at a 2159 NW 1st Court in Wynwood.

The 1962-built 11,810-square-foot building, which is situated on a 6,812-square-foot lot, was purchased from FBWS development Senior LLC for $3 million.

The deal closed December 9.

The building is located adjacent to Soho Studios, a 45,000-square-foot creative event space, on a 68,000-square-foot lot located at 2136 NW 1st Ave, which is also owned by The Faith Group.

Roy Faith
Roy Faith

“This was a strategic purchase as this building is on a corner lot adjacent to our Soho Studios,” commented Kevin Faith, CEO of the Faith Group. “This was the last piece we needed to create a 75,000-square-foot footprint, one of the largest contiguous sites in Wynwood.”

“Having seen how Wynwood has evolved over the past 10-15 years, our group firmly believes we are still in the early stages of one of the most vibrant communities in the US,” added Roy Faith. “With the continued developments currently online and many more to come, there is a long runway still ahead and we are excited to be part of it. We are looking at several different concepts for the property.”

 

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