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Tristar Proposes Pair Of Office Buildings In Wynwood

New York developers Tristar Capital and Ral Development Services filed plans for a pair of neighboring office buildings in the Wynwood Arts District neighborhood of Miami.

The Wynwood Design Review Committee will consider plans on Feb. 9 for The Wyn on 5th South and North at 2641 and 2701 N.W. Fifth Ave, respectively. The 1.6 acres of land is owned by Cainstar LLC and Brownstar LLC, both affiliates Tristar and Ral Development. They currently have several two-story commercial buildings that would be demolished.

The developers formed Ral Tricap Wynwood LLC to build this project.

“The development team has assembled a best-in-class design and engineering bench to bring activated, engaging and thoughtful urban planning and architectural design to the site, creating a new arrival point and gateway into the Wynwood neighborhood,” said Spencer Levine, president of Ral Development. “Wyn on 5th will reimagine the work experience and create a transformative way to work in Wynwood.”

Both buildings would rise eight stories with a pedestrian paseo between them and have active roof decks.

The Wyn on 5th South would total 318,325 square feet, with 139,254 square feet of offices, 11,904 square feet of retail, 4,707 square feet of indoor amenities, an 8,532-square-foot outdoor amenity deck on the fourth floor, and 370 parking spaces, including 74 for electric vehicles.

The Wyn on 5th North would measure 260,265 square feet, with 106,414 square feet of offices, 6,961 square feet of retail and 268 parking spaces, including 54 for electric vehicles.


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TriStar Affiliate Buys Wynwood Property To Start Major Development

An affiliate of New York-based TriStar Capital and New York-based RAL Development Services paid $13 million for a building in Miami’s Wynwood Arts District to set up a major development.

JCR Investments of Boca Raton, managed by Ok Bun Yu in Boca Raton, sold the 31,250-square-foot site at 2701 N.W. Fifth Ave.

The buyer was Brownstar LLC, managed in partnership with RAL and TriStar, a major commercial real estate developer led by and David Edelstein. Dallas-based Comerica Bank provided a $12.1 million mortgage to the buyer.

The property has a 20,239-square-foot building that was constructed in 1963 and recently housed clothing and jewelry retailers.


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