32,000 square feet of prime real estate in Wynwood, Miami changed hands this week as 2200 & 2230 NW 2nd Avenue was sold for $5,150,000. With representation from Ari Dispenza of Mizrach Realty Associates, 243 Wynwood LLC, a subsidiary of Abingdon Square Partners, purchased the two adjacent buildings. The unnamed seller was represented by Shaul Banouz of Recom, LLC in the transaction.
Centrally located on the main retail boulevard in the Wynwood Arts District, the buildings were originally built in 1954. Taking advantage of the neighborhood's exploding leasing market, Abingdon has begun a complete renovation of the property into a mixed-use retail and office complex. The anticipated completion date is February, 2014.
Though there were developers in the area prior, now-deceased visionary developer Tony Goldman brought increased attention to the area as an arts district and international destination. "The creativity and the interest that the artists, restaurants, cafés, and lounges bring to Wynwood continues to capture the attention of savvy investors. It's a very exciting time for the area," said Dispenza.
For more news and information visit Blumberg Capital Partners.
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