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Clearline Real Estate Reveals Plans For Apartment Project In Wynwood

Clearline Real Estate, led by former Kushner Cos. executive Jenny Bernell, has revealed plans for its first apartment development in Wynwood.

The city’s Urban Development Review Board will go over the project on March 15. Miami-based attorney Iris Escarra represents the New York-based developer for the project, which was designed by Miami-based Arquitectonica.

Clearline’s strategy is buildings with mostly smaller apartments, which generally appeal to young workers without children. These buildings are light on parking, so the developer is counting on many tenants to utilize public transit or their bikes.

The project would be located at 2000 to 2012 N. Miami Ave and 2021 to 2035 N.W. Miami Court. It purchased the 1.38-acre property for $19.1 million in April 2022.

Totaling 435,286 square feet in 11 stories, the building would feature 310 apartments, 9,909 square feet of commercial space and 311 parking spaces. The developer is seeking a 50% density increase through a payment to the city’s affordable housing trust fund, plus a 30% parking reduction.

It would feature an interior courtyard on the fourth floor with a pool, a clubroom, a fitness room, a library and a coworking center.

There would be 118 studio apartments averaging 472 square feet, 131 one-bedroom units averaging 630 square feet, and 61 two-bedroom units averaging 851 square feet.

 

Source:  SFBJ

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Former Kushner Exec Buys Miami Development Site In Wynwood

New York developer Jenny Bernell picked up a site in Miami.

Bernell, former executive vice president of development at Kushner Companies, paid $19.1 million for the assemblage at 2000 North Miami Avenue and 2021 Northwest Miami Court in Miami’s Wynwood neighborhood. She acquired the 1.4-acre development site via her new company, Clearline Real Estate, according to the listing brokerage.

A firm linked to LGL Realty, led by waste management and recycling principals Charles Gusmano and Charles Lomangino, sold the land.

Metro 1 founder Tony Cho and managing director Andres Nava represented the seller, LGL Realty. The site was on the market for $21.5 million, Nava said.

Bernell is founder and CEO of New York-based Clearline, which has multifamily and mixed-use projects in Florida, New York, Tennessee and New Jersey. Its planned pipeline totals about 1,500 multifamily units, according to Bernell’s LinkedIn. She worked for New York-based Kushner for nearly seven years until she left in early 2021.

Clearline plans a mixed-use project on the site that will likely include apartment rentals. Nava said the assemblage is the last undeveloped property in the area with zoning for more than 300 units. The land’s T6-8-O zoning allows for 310 units and 12 stories of development under Wynwood’s NRD-1 overlay district.

The seller paid $5.6 million for the properties between 2003 and 2007, records show.

 

Source:  The Real Deal

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