Metro 1 completes $7.75M Sale of Development Site in Wynwood

Metro 1 Commercial (“Metro 1”) is honored to announce the sale of 119 NW 24 Street in Wynwood, Miami.

Representing both buyer and seller, Metro 1 successfully closed the sale at a value of $7,750,000.

A 14,500 SF parcel zoned T5-O within Wynwood’s NRD-1 overlay, allowing up to 5 stories as of right, and 8 stories with bonuses. From a density perspective, the site allowed 50 residential units as of right, and 75 residential units with bonuses, or 100 hotel keys as of right and 150 hotel keys with bonuses. The value on a per square foot basis breaks down to $534.

Juan Andrés Nava, Managing Broker at Metro 1 , and Bernardita Banfi, Broker Associate at Metro 1 , were the sole brokers in this off market transaction.

Metro 1 is the leading placemaker in Wynwood, with over 18 years of experience in the neighborhood, and brokering some of the area’s most significant projects to date.

$7,750,000

119 NW 24 Street, Miami, FL

14,500 SF

T5-O NRD-1

$534 PSF

Land | Development Site

Juan Andrés Nava | Bernardita Banfi

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