JYB 126 Acquires Crunch Fitness Buildings In Wynwood For $24.5M

Doug Levine, founder of Crunch Fitness, sold three commercial buildings in Miami's Wynwood for $24.5 million to JYB 126. The properties, located at 2320-2328 North Miami Avenue & 36-38 Northwest 24th Street, cover 0.7 acres and are fully occupied by various tenants. There are plans for potential mixed-use redevelopment into a hotel or multifamily project, reflecting the strong market fundamentals in Southeast Florida, especially in neighborhoods like Wynwood.

Summary of transation details:

• Property Type: Commercial
• Transaction Amount: $24,500,000
• Address: 2320-2328 North Miami Avenue & 36-38 Northwest 24th Street
• Market: Miami
• ACRES: 0.7

The sale was brokered by Devlin Marinoff & Tony Arellano from DWNTWN Realty Advisors. The buyer, JYB 126, made the acquisition from Doug Levine, with the properties being previously occupied by various tenants. The entity that purchased the properties is managed by Eric Benaim of Modern Spaces, showcasing the ongoing investor interest in the robust market of Southeast Florida.