Rendering of Wynwood 27 mixed-use project in Miami's Wynwood neighborhood being developed by Kushner Cos. and Block Capital Group. Courtesy PhotoKushner Cos., Block Capital Add to Holdings in Miami's Wynwood
The developers bought two lots next to the sites of their Wynwood 27 and Wynwood 28 projects.
March 06, 2020 at 03:30 PM
2 minute read
New York-based Kushner Cos. LLC and its Miami-based partner added a quarter-acre property to their holdings in Miami's Wynwood neighborhood.
Kushner, founded by the father of Trump adviser and son-in-law Jared Kushner, and Miami-based Block Capital Group LLC bought two adjacent lots next to the development sites for their Wynwood 27 and Wynwood 28 projects for $4.6 million Feb. 27.
The two lots southwest of Northwest First Avenue and 27th Street could be used for the joint venture's second phase of development in the booming arts district, and any development likely would include multifamily.
The Miami-Dade County Property Appraiser's office shows each lot at 120 and 108 NW 27th St. measures 5,250 square feet and has a single-family home.
The mixed-use Wynwood 27 and Wynwood 28 buildings are primarily apartment buildings with 152 units planned as well as 50,000 square feet of office space, 34,000 square feet of retail space and parking, The Real Deal reported.
The Wynwood 27 and 28 buildings will range from five to eight stories, and construction is set to start in the second quarter.
Kushner Cos. was founded by Charles Kushner, who resumed his real estate ventures after serving prison time for a campaign finance, tax evasion and witness tampering conviction in 2005.
Block Capital is led by father-son team Gustavo and Martin Miculitzki and is heavily focusing on Wynwood, an internationally known destination with galleries, bars and restaurant offerings. The neighborhood once was an overlooked warehouse district.
"Working with our partners, who have been friends for many years, is integral to the success of this project," Martin Miculitzki, Block Capital CEO, said in a news release. "They see in Wynwood what we see, and together, we can preserve its integrity as we contribute to the growth and development of the community by building beautiful spaces that let people truly experience the rich culture of the area."
The sellers of 120 NW 27th St. were Celeste B. Martin and Melissa K. Martin, and the seller of 108 NW 27th St. was Miriam Lainez.
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