'Wynwood Block' Fetches $29.5 Million

Ben Mandell, Drew Schaul and John Ellis of RKF arranged the sale of 2621 NW 2nd Avenue, also known as Wynwood Block, on behalf of Brooklyn, NY-based RedSky Capital.
wynwood blockThe building, which takes up the full block on NW 2nd Avenue between 26th and 27th Street, has sold for $29.5 million.
The sale officially closed on February 27, 2015.
The property is a trendy enclosed urban shopping center featuring local artisan retailers, restaurants and art galleries. The seller, Wynwood 2621 LLC, was represented by Gaston Miculitzki of Brightway Properties.

Mandell noted that the acquisition of 2621 NW 2nd Avenue was consistent with the buyer’s strategy of adding distinctive, well-located properties in Wynwood and the Design District to its national real estate portfolio.

“Given its artsy and creative vibe, the Wynwood Block building reminded the buyer of similar properties in trendy Brooklyn neighborhoods like Williamsburg and Greenpoint,” he said. “New ownership seized the opportunity to preserve the character of the building while continuing to attract a unique mix of retailers and local artists to the property.”

RedSky made their first foray into the South Florida market earlier this year with the purchase of 2407 NW Second Avenue in Wynwood for $11 million.

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