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City Review Narrowly Recommends Major Wynwood Project

A developer plans to construct a major mixed-use residential project that will include new office space and nearly 40,000 square feet of commercial uses in the Wynwood Arts District.

LIV WRK Wynwood is proposed for a site at 2400 and 2500 N Miami Ave.

The project was considered April 20 by the city’s Urban Development Review Board. In a rare split vote, the project was recommended for approval on a vote of 3 to 2.

Those voting against the project criticized the size and massing of the project.

The owner-developer is identified as LIV WRK Sol Wynwood LLC.

Two buildings are proposed, with a total floor area of 922,466 square feet, on property between Northwest 24th and 25th streets.

The 2400 parcel will be developed with an 8- to 12-story building, consisting of 420 multifamily residential units and 59,461 square feet of offices above 29,057 square feet of ground floor commercial-retail, a mix of modern amenity spaces and on-site parking.

A three-level enclosed garage will provide 556 vehicular parking spaces and 798 bicycle rack spaces.

The parcel at 2500 N Miami Ave. will be developed as an 8 to 12 story apartment/hotel, with 122 dwelling units, above 8,996 square feet of ground floor commercial-retail space.


Source:  Miami Today

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Brooklyn Developer Buys Wynwood Properties For $39 Million

A developer from Brooklyn, New York made three property acquisitions in Miami’s Wynwood Arts District, potentially setting up a major development.

The deals, which totaled $38.86 million, give LivWrk Sol Wynwood LLC, managed by Asher Abehsera, the CEO of Brooklyn-based LivWrk, ownership of 2.45 acres in one of Miami’s fastest-growing neighborhoods.

The biggest deal was for $18.51 million, with EEFC 2400 NMA Owner LLC, managed by New York-based East End Capital Managing Principal Jonathan Yormak, selling 1.16 acres at 2400, 2412 and 2418 N. Miami Ave. plus 29 N.W. 24th St. The site currently has 11,305 square feet of commercial buildings. It last traded for $6.25 million in 2015.

In addition, EEFC 2500 NMA Owner LLC, also part of East End Capital, sold the 19,813 square feet of property at 2500 N. Miami Ave. and 33 N.W. 25th St. for $6.5 million. It has a 3,045-square-foot commercial building.

Finally, LivWrk Sol Wynwood paid $13.85 million to 3 CI Holdings, managed by Catherine DeFrancesco, for the 36,250-square-foot site at 48 N.W. 25th St.


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