August 22, 2019
Avison Young negotiated the $46 million sale of a seven-property portfolio in Miami’s Wynwood neighborhood. PMG Acquisitions LLC acquired the properties, and plans to build up to six stories of co-living apartments above single-story retail. The properties, which span nearly two acres, are located at 2431-2455 NW 2nd Ave., 146-172 NW 25th St., and 1159 and 169 NW 24th St.
John Crotty, Michael Fay, David Duckworth, Brian de la Fé and Myles Stepner of Avison Young represented PMG in the transaction. Peter Desiderio of Stearns Weaver Miller Weissler Alhadeff & Sitterson P.A., and Laura Bourne Burkhalter of Laura Bourne Burkhalter P.A., represented the sellers.
“Explosive growth and high demand continue in Wynwood, making the large assemblage a one-of-a-kind opportunity,” said Crotty. “The investor-developer of high-quality residential has a unique co-living above ground-floor retail concept that fits perfectly within the neighborhood’s lifestyle, and is expected to further enhance and beautify the area.”
For comments, questions or concerns, please contact David Cohen