No Comments

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

No Comments

Tricera Capital And LNDMRK Development Secure Several Exciting Tenants At Society Wynwood

Society Wynwood_Image Courtesy of Boardroom PR 1170x435

Tricera Capital, the Miami-based commercial real estate firm led by Ben Mandell, and LNDMRK Development completed several leases totaling almost 14,000 square feet at major mixed-use development Society Wynwood.

Newly signed tenants include Starbucks, Chama De Fogo Brazilian Steakhouse and Nacho Daddy.

Starbucks will occupy 2,615 square feet of retail space at Society Wynwood. The Seattle-based coffee giant has a strong presence throughout South Florida, including at Tricera’s Shops at the Press in West Palm Beach.

Chama De Fogo leased 5,522 square feet at Society Wynwood for its second Miami location. The Brazilian steakhouse concept has become extremely popular over the years, and Chama De Fogo prides itself on its authentic gaucho barbecue and high-quality meats. The Society Wynwood location will feature a casual dining restaurant, butcher shop and delicatessen.

The Las Vegas-born Nacho Daddy opened its first store in 2010. Today, the modern Mexican-style restaurant has grown tremendously with six locations nationwide serving gourmet nachos and more. The 5,434-square-foot lease in Society Wynwood will be the restaurant’s seventh and the only one in Florida.

“We are excited to be part of the continued growth of Wynwood and bring compelling tenants such as Starbucks, Chama De Fogo and Nacho Daddy to this project,” said Tricera President | Head of Leasing Dustin Ballard. “Society Wynwood will add to the elevated ecosystem of restaurants, retail and living experiences the eclectic art district offers its residents and guests.”

Irma Figueroa, Andrew Rosenberg and Max Gelband with Comras Company are Tricera and LNDMRK’s leasing representatives at Society Wynwood.

Elizabeth Higgins, Marty Arrivo and Aracibo Quintana of Acre represented Starbucks in its lease. Elizabeth Hazan of Byblos Hospitality Holdings was a consultant for Chama De Fogo. Jenny Geffen and Dave Preston with Colliers represented Nacho Daddy.

In partnership with Society Wynwood developers PMG and Greybrook Realty Partners, Tricera and LNDMRK are forward-purchasing over 32,000 square feet of ground floor retail at the project. The 2431 NW Second Ave. development is conveniently located in the center of the Wynwood Art District, within walking distance of many new developments and retail shops. Along with the ground-floor retail, Society Wynwood has almost 300 modern residential units and a private parking garage, making it the area’s premier new development.


No Comments

Recertification Voting Continues For Miami’s Wynwood Business Improvement District

After approval by the City of Miami Commission, starting Apr. 14, the Wynwood Business Improvement District (BID) has been up for a recertification vote by all property owners within its boundaries.

The Wynwood BID, which began in July 2013, is the largest one of its kind in Florida, covering a 50-city-block neighborhood that has experienced an exciting transformation, taking it from an abandoned industrial zone to a bustling arts and nightlife destination.

More recently, Wynwood has become a desirable location for new office and residential developments, and now, major new hotels from the world-renowned Arlo brand and the soon-to-be-launched Moxy by Marriot.

For three weeks, all 400-plus property owners within the BID’s boundaries have been asked to sign affidavits supporting its renewal, which the BID will then collect and count. To proceed with the recertification process, more than 50 percent of the votes, plus one, must be in favor. Once the three-week voting period has concluded, all affidavits will be forwarded to the City of Miami Commission and Mayor Francis Suarez for review and final approval.

“We are excited to collect votes from our area property owners to recertify the BID,” said Manny Gonzalez, long-time executive director of the Wynwood Business Improvement District. “The district has entered a new phase, with the ongoing expansion of residential and office capacity that did not exist previously. Our goal is to have another successful decade of embracing change like urban planning and landscape design while also working to maintain Wynwood’s place as an appealing cultural destination and creative center.”

BIDs function as special tax districts that allow for an additional assessment to support initiatives and programs that governments cannot fully cover. In addition to Wynwood, they have been successful locally in places such as Miami Beach, Coconut Grove and Coral Gables, and other major cities like New York.

In partnership with area businesses, owners, developers and residents, working with the City of Miami, the Wynwood BID has been a significant catalyst in the neighborhood’s growth, improving quality of life, and in ongoing synergies between new investors, and existing businesses and cultural venues.

During the past decade, Wynwood has experienced an exponential increase in visitors, with the number rising from 240 thousand in 2013 to 15 million annually in 2023. Today, Wynwood supports 5,000 new jobs and generates more than 20 percent of the City of Miami’s parking transactions.

In partnership with the City of Miami Planning Department and Plusurbia, the Wynwood BID developed Miami’s first Neighborhood Revitalization District (NRD) plan to maintain the neighborhood’s distinctive street art and industrial feel, while encouraging a 24-hour community for live, work and play lifestyles.

The BID has accomplished significant successes through its partnership with the City of Miami Police Department, resulting in a 60 percent reduction in crime. Additionally, the BID has made a substantial contribution of $3.5 million towards Wynwood Works, a program aimed at developing 5,000 micro units of affordable housing and invested $1 million towards office development in the area.

The BID also has created a Clean Team to remove trash and debris daily to maintain a clean and attractive neighborhood. These notable achievements have garnered national recognition for the BID in the past decade, with awards such as being one of the greatest neighborhoods in America and being recognized for its Economic Development Planning by the American Planning Association (APA).

In the arts, Wynwood continues to thrive and be the home of the iconic Wynwood Walls, Museum of Graffiti, Margulies Collection, Mana Wynwood, Gary Nader Art Centre, the recently opened Paradox Museum, and many more.

The neighborhood remains a center for over 3,000 units of unique retail, restaurant and nightlife businesses, including Zak the Baker, Oasis Wynwood, 1-800-Lucky, Gramps and UNKNWN. Annual special events such as Miami Art Week, Miami Music Week and Wynwood Pride fill the community with pedestrian traffic and excitement.

Major developments in the area include the recently opened Arlo Wynwood hotel and The Dorsey, as well as upcoming projects such as The NoMad Residences, 29N Wynwood, 545 Wyn and The Wynwood Plaza.

Additionally, the neighborhood is experiencing growth in mixed-use residential and office spaces with developments including Strata Wynwood, WYND 27 & 28, Society WynwoodSentral Wynwood and The Gateway at Wynwood. Currently, there is 600,000 square feet of commercial retail space under construction as Wynwood continues to evolve.

Companies committing to office space in Wynwood include Founders Fund, Spotify, Technology SA and Pricewaterhouse Coopers.

The BID supports its City of Miami partners and surrounding communities by running numerous safety and cleanliness initiatives, including state-of-the-art interactive outdoor digital kiosks, neighborhood-wide security cameras and a dedicated Clean Street Team.

“Wynwood property owners and businesses believe in the wisdom of investing in infrastructure enhancements, safety initiatives, forward-thinking planning and destination branding that are key to the BID’s work,” Gonzalez concluded.

For more information, visit


Source:  Community News

No Comments

Turnberry Turns To Wynwood, Plans Mixed-Use Hotel Project

Turnberry Associates is planning a mixed-use hotel project in Wynwood on a site it acquired from the Bacardi family.

Aventura-based Turnberry, led by Jackie Soffer, paid $13.1 million for the properties at 127 and 135 Northwest 24th Street and 128 and 138 Northwest 25th Street, Vizzda data and records show. One of Soffer’s brothers, Rock Soffer, will lead the project. AJC Partners, a family office based in Bloomfield Hills, Mich., is a partner.

A company led by Luis L. Bacardi sold the properties. The Turnberry affiliate financed the purchase with a $7.9 million loan from Terrabank.

The Bacardi entity paid just $2 million for the 0.7-acre assemblage in 2006. Bacardi is CEO of Rumbum Racing.

Rock Soffer, a partner at Turnberry, said the site will likely be developed into a hotel with a food and beverage component, and possibly office or retail. The site’s zoning allows for five stories, plus more if the developer takes advantage of bonuses.

Soffer said Turnberry is working with its design team and is patient when it comes to finalizing plans, but that it could break ground in two years.

“We want to see how the neighborhood will evolve,” he said.

The site is sandwiched between two major developments. To the west, PMG and Greybrook Realty Partners are building Society Wynwood, a 289-unit apartment development at 2341 Northwest Second Avenue. To the east, multifamily giant AMLI has a 316-unit apartment building under construction at 70 Northwest 25th Street.

AJC, Turnberry’s partner, is led by Michael Colman, Eric Bean and Richard Mark.

Soffer, through Turnberry Associates, is also working on a market-rate apartment project in Miami’s Little River. He’s partnering with Gaudi Castro and Jose Vizcarrondo on the development of 123 and 137 Northeast 79th Street.

In 2019, Soffer, Elion Partners and members of the Sredni family completed 17 West, a mixed-use building that includes a Trader Joe’s in Miami Beach.


Source:  The Real Deal

No Comments

Developers Of Society Wynwood Mixed-Use Project Score $142M Construction Loan

PMG and Greybrook Realty Partners scored a $142.3 million construction loan for their planned mixed-use rental project in Wynwood.

Pacific Western Bank and Square Mile Capital provided the loan for Society Wynwood, which broke ground earlier this year at 2431 Northwest Second Avenue, according to a release.

The 10-story building will have 318 apartments and 50,210 square feet of commercial space once completed. Amenities will include a pool deck, yoga lawn, food and beverage operations, a gym, coworking spaces and a rotating art gallery. It will offer traditional apartments, as well as co-living units with rent-by-the bedroom options.

PMG’s Andrew Warman, Lowell Plotkin and Jonathan Blank represented the developer in arranging the loan.

The project will mark the third Society-branded development for PMG in South Florida, which has Society Las Olas and Society Biscayne, the latter of which is expected to open in early 2022. The company plans more than 8,500 Society units nationally, including projects in Atlanta, Brooklyn and Nashville.

The developers assembled the Wynwood land over the past two years for more than $57 million, including the $11.5 million acquisition of land in December that previously belonged to RedSky Capital and JZ Capital Partners.

Development has continued at a fast clip in Wynwood, with office projects beginning to proliferate most recently. In August, developer David Edelstein’s TriStar Capital and partner RAL Development paid $13 million to complete an assemblage in Wynwood. The two firms are planning a $200 million Class A office project on Northwest Fifth Avenue.


Source:  The Real Deal

No Comments

New Wynwood Residences In Assemblage Of Cubes Win OK

An assemblage of cubes and dark colors will become home to 326 new residential units in the heart of Wynwood.

PMG-Greybrook Wynwood Trustee LLC is the owner-developer for a project called Society Wynwood, to rise at 2431 NW Second Ave.

The mixed-use residential project was reviewed Jan. 20 by the city’s Urban Development Review Board and approved with several recommendations.

The site is east of Northwest Second Avenue, south of Northwest 25th Street and north of Northwest 24th Street.

The project is 528,075 square feet, including 48,288 square feet of commercial-retail space and 8,603 square feet of open space.

The building will be eight stories, up to 124 feet, and have parking for 211 vehicles and 30 bicycles.

In a letter to the city, Javier F. Aviñó, an attorney representing the developer, wrote: “The proposed Project will bring 326 residential units to Wynwood, complete with high quality amenities and a roof deck to allow Wynwood residents to socialize and enjoy outdoor space in their neighborhood.

“The ground floor incorporates over 48,000 square feet of commercial uses, including retail uses and multiple restaurant spaces, providing convenient go-to spots for residents and visitors,” he wrote.

The project will have a cross block passage lined with retail and food and beverage options connecting 24th and 25th streets. A second cross block passage running east-west will connect this passage to Northwest Second Avenue, providing further through-site connectivity.

Mr. Aviñó wrote: “The Project will also incorporate artistic elements including art walls, stucco with graffiti, metal mesh, and green walls, reflecting the surrounding aesthetic of the neighborhood.

“This mix of uses within one site combined with design elements that encourage socialization and pedestrian activity, creates a strong neighborhood anchor for the continued growth and vitality of Wynwood,” he said.

The developer is asking for three waivers:

  • To allow up to a 30% reduction in required parking for a site within a quarter mile radius of a transit corridor.
  • To allow 89.9% lot coverage when 80% is permitted.
  • To allow parking in the second layer, when an art, glass, or architectural treatment, of a design to be approved by the planning director, with the recommendation of the Wynwood Design Review Committee, is provided for that portion of the façade.

“I’m excited with your project. I like it,” said board Chairman Willy Bermello.

Board member Robert Behar said, “I like all that you’ve done.” He did caution about the use of dark colors.

“Be careful with the color you select. In South Florida, that black will turn into gray very soon,” he said.

Board member Dean Lewis said the designers should articulate and celebrate the building corners more.

Board member Fidel Perez called it a “very well put together building.”

The motion to recommend approval included these recommendations: re-think the corners of the building to add light; integrate the artwork; re-evaluate the paint colors for the façade; and include more glass into the base.

The motion passed unanimously.


Source:  Miami Today

© 2023 FIP Commercial. All rights reserved. | Site Designed by CRE-sources, Inc.