Wynwood Business Improvement District Acquires Development Site In Miami For $3.15M

The property involved in this transaction is a development site located at 29 Northwest 28th Street in the Miami market. The sale price for this asset was $3,150,000, with a building square footage (BSF) of 49,500 and a price per building square foot (PPBSF) of $63. The total square footage (SF) of the site is 6,900, resulting in a price per square foot (PPSF) of $456.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,150,000
• Buyer: Wynwood Business Improvement District
• Seller: Fydor Blumin & Lance Burstyn
• Broker: Alfredo Riascos - Gridline Properties

This transaction involved key individuals such as Fydor Blumin and Lance Burstyn as the sellers, while the buyer, Wynwood Business Improvement District, is noted for its role in the local business improvement efforts. Alfredo Riascos from Gridline Properties acted as the broker facilitating the deal.