We usually don’t say this, but it looks like someone may have scored a reasonable deal in Wynwood property, Jameson Realty Group and Yellow Side Ventures have purchased a parcel in the neighborhood for $3 million – 151 Northwest 24th Street. It’s a 14,500 square-foot property and currently has a 6,500 square-foot building which houses the Emerson Dorsche art gallery. On a square foot basis almost certainly overpriced, but heck its a big lot and who knows, maybe they can toss up a 50 story residential mixed-use condominium tower with some questionable restaurants and empty retail space before Miami runs out of water and sinks into the ocean.
“The New York-based owners, who have also bought other properties in Wynwood, have plans to renovate the building. “We’re going to reposition the building, and we’re in talks with a tenant that wants to brand the entire building as their flagship location for Miami,” Arev told TRD, declining to name the prospective tenant.”
We got all of this over from our usual sources at The Real Deal.