Crunch Fitness founder Doug Levine sold a trio of commercial buildings in Miami’s Wynwood for $23.5 million, roughly $6 million below his asking price.
Wynwood 126 acquired the 0.7-acre portfolio that can be redeveloped into a mixed-use project with a hotel or multifamily component.
Levine paid a combined $5.9 million for the assemblage between 2013 and 2014, records show. The three buildings at 2320-2328 North Miami Avenue and 36-38 Northwest 24th Street were completed in 1928 and 1950.
Source: The Real Deal