National Safe Harbor Exchanges Acquires Wynwood Development Site In Miami For $28M

Thor Equities has sold a development site in Wynwood, Miami for $28 million to National Safe Harbor Exchanges. The site, located at 2724 Northwest Second Avenue, 208 Northwest 28th Street, 229, 235 & 245 Northwest 27th Street, spans approximately 0.7 acres and was previously approved for a hotel development. The property was leased to an entity managed by a Los Angeles law firm and had plans for an eight-story hotel and retail space.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $28,000,000
• Address: 2724 Northwest Second Avenue, 208 Northwest 28th Street, 229, 235 & 245 Northwest 27th Street
• Market: Wynwood, Miami
• Buyer: National Safe Harbor Exchanges - James Beck
• Seller: Thor Equities - Joe Sitt
• Brokers: Devlin Marinoff & Tony Arellano - Dwntwn Realty Advisors

The buyer, National Safe Harbor Exchanges, completed the purchase of the Wynwood development site. The seller, Thor Equities, was represented by brokers Devlin Marinoff and Tony Arellano from Dwntwn Realty Advisors. The transaction marks the successful sale of the property, which had been leased to a Los Angeles law firm for an eight-story hotel and retail development. The $28 million sale price reflects the value placed on the potential of the site in the Wynwood market.