Wynwood Development Assemblage Trades For $33.5M

A prime Wynwood development assemblage totaling more than 70,000 square feet of land has closed for $33.5 million, underscoring sustained demand for well-located urban sites in one of Miami’s most supply-constrained submarkets.

The transaction, which closed on January 6, includes two contiguous parcels at 2661 NW 5th Avenue and 2701 NW 5th Avenue. The seller was David Edelstein, and the deal was facilitated by Tony Arellano and Devlin Marinoff of DWNTWN Realty Advisors.

Zoned T5-O / NRD-1, the assemblage allows for significant mixed-use density, positioning it for large-scale development in the heart of Wynwood. The zoning flexibility, combined with the site’s central location, offers exceptional long-term potential as institutional and private capital continues to target the neighborhood.

The sale highlights Wynwood’s ongoing evolution from an arts district into a premier destination for high-density, mixed-use projects within Miami’s urban core. As available development sites become increasingly scarce, transactions of this scale reinforce investor confidence in Wynwood’s growth trajectory and its role as a key driver of Miami’s next phase of urban development.