November 26, 2013
New Yorkers aren’t just flying south for the winter – they’re staying.
Brooklyn-based Forte Capital acquired a 22,462 square foot building located at 48 NW 25th Street.
Metro 1 President and CEO Tony Cho represented the seller and Jason Weisman, an agent with Metro 1 represented the buyer in the sales transaction.
Forte plans to redevelop the property into showroom/retail/restaurant use. The deal closed Nov. 20.
“This transaction represents a rapidly increasing presence of high profile investors from New York and beyond who believe in the emerging neighborhood of Wynwood as a future hub for retail, office, and residential use,” said Weisman.
In a deal which closed October 10, SBT WYNWOOD TOO, LLC purchased a seven-parcel portfolio of 54,968 square feet along with 104,750 square feet of land for $8,500,000. The portfolio is located around NW 29th Street and NW 3rd Avenue.
Metro 1 President and CEO Tony Cho represented both seller and buyer in that Wynwood sales transaction.
“This is a very unique time for investors. Wynwood is rising on the interest scale and undergoing a transformation into one of the most interesting destinations in South Florida,” stated Cho.
Having completed more than $300 million in sales transactions, 200+ deals and more than 600,000 square feet in the last 5 years, Metro 1 is committed to Wynwood, along with Miami’s other up-and-coming Urban Core neighborhoods including the Design District, Downtown Miami, Edgewater, the Upper Eastside, and Sunset Harbour.