David Edelstein Sells Wynwood Development Site For $33.5 Million With Brokers Tony Arellano & Devlin Marinoff

The property asset involved in the transaction is a development site located at 2661 Northwest 5th Avenue and 2701 Northwest 5th Avenue in the Wynwood market. The properties are comprised of two contiguous parcels that total over 70,000 square feet of land. They are zoned T5-O / NRD-1, which allows for significant mixed-use density. The sale price for the development assemblage was $33,500,000.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $33,500,000
• Address: 2661 Northwest 5th Avenue & 2701 Northwest 5th Avenue
• Market: Wynwood
• Seller: David Edelstein
• Brokers: Tony Arellano & Devlin Marinoff - DWNTWN Realty Advisors

DWNTWN Realty Advisors’ brokers Tony Arellano and Devlin Marinoff facilitated the sale, which underscores the sustained demand for well-located urban development sites in Miami. The transaction reflects Wynwood's evolution as a prime area for large-scale high-density projects amid continued investment from both institutional and private capital sources.