Rilea Group Acquires Development Site In Wynwood, Miami For $22M

A development site located at 56 NE 29th Street in Wynwood, Miami, has been sold for $22,000,000. The property spans 1.5 acres with a lot size of 65,700 square feet. The sale price equates to a price per square foot of $102 and a price per acre of $14,666,667. The transaction took place on 06/22/2021.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $22,000,000
• Market: Wynwood, Miami
• Buyer: Rilea Group - Diego Ojeda
• Seller: 29th Street Warehouses
• Buyer's Representative: Alfredo Riascos & Yonatan Missika - Gridline Properties
• SF: 215,520

The buyer of the development site is the Rilea Group, represented by Diego Ojeda. The seller is 29th Street Warehouses. Alfredo Riascos and Yonatan Missika from Gridline Properties served as the buyer's representatives in the deal.