Reduced Price 1900 NE Miami ct Motivated Seller MIAMI BEACH Gateway to Wynwood / Edgewater $10 Million
BRICKELL
DOWNTOWN MIAMI
EDGEWATEREDGEWWYNWOOATERD
N Miami Ave
nd Ave NW 20 th St NW 2
WYNWOOD
FOR SALE .98 ACRE MIXED-USE/Creative office-retail JOHN F. BELL William Hart Redevelopment SITE/3 STORY COMMERCIAL BUILDING Managing Director Financial Analyst│Capital Markets [email protected] [email protected] 305.808.7820 305.808.7314 n MIAMI avenue & ne 20TH STREET | Miami, Florida
licensed real estate broker TABLE OF CONTENTS EXECUTIVE SUMMARY...... 3
PROPERTY DESCRIPTION...... 19
Wynwood Overview...... 37
MARKET OVERVIEW...... 58 Economic Incentives...... 59 Miami Market...... 60 Demographics...... 62 Retail Market / Office Market...... 63 Apartment Market...... 71 Condo Market...... 74
1900 NE Miami ct Zoning Analysis...... 80
For More Information, Contact:
Primary Contact: Additional contact: JOHN F. BELL William Hart Managing Director Financial Analyst Capital Markets [email protected] [email protected] 305.808.7820 305.808.7314
The material contained in this Offering Memorandum is confidential, furnished solely for the purpose of considering the acquisition of the property described herein (the “Property”) and is not to be used for any other purpose or made available to any other person without the express written consent of the owner (the “Owner”) or Transwestern. This Offering Memorandum contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information which prospective purchasers may desire. The material in this Offering Memorandum has been compiled by Transwestern from sources considered reliable and has not been independently verified by Transwestern. Summaries contained herein of any legal documents are not intended to be comprehensive statements of the terms of such documents but rather only outlines of some of the principal provisions contained therein. Qualified prospective purchasers should conduct appropriate due diligence and review all legal documents, which are available from Transwestern, and make their own conclusions. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. Neither the Owner nor Transwestern, nor any of their respective officers, agents or employees, have made any representation or warranty, expressed or implied, as to the accuracy or completeness of this Offering Memorandum, or any additional verbal or written information provided. This Offering Memorandum is subject to prior placement, errors, omissions, changes, or withdrawal without notice and does not constitute a recommendation, endorsement, or advice as to the value of the Property. Each prospective purchaser is to rely solely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein. No liability is assumed by and none shall be asserted against the Owner or Transwestern on account of any statements, descriptions or information, or projections or estimates, contained herein or omitted here from. The Owner reserves the right, at its sole discretion, to reject any or all offers to acquire the Property and/or to terminate discussions with any prospective purchaser, at any time, with or without notice or cause. The Owner expressly reserves the right to sell the Property on any basis or using any criteria. In addition, the Owner expressly reserves the right, at its sole discretion, to withdraw, supplement, change, amend, bifurcate, or reduce the Offering Memorandum and/or the Property.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to omissions, change of price, rental or other condition, without notice, and to any listing conditions, imposed by the Owner. Demonstrated Demand for Mixed-Use Residential & Commercial in Wynwood Executive Summary
Creative Office-Retail or Redevelopment - MIXED USE Opportunity Redevelopment Opportunity: Mixed-Use, Residential / Retail / Office / Hospitality Prime Location in Miami’s Dynamic Emerging Market - Wynwood
The opportunity 1900 Northeast Miami Court Transwestern has been retained on an exclusive basis to arrange the sale Miami, Florida of the 1900 NE Miami CT site (“Property”). Price Reduced: Motivated Seller $10,000,000
50,317 SF • Reposition Opportunity: The Property is currently improved Building Size To be vacated by school with a vacant 50,317 SF former office/industrial facility that was partially renovated in 2011 to accommodate a charter school and can Year Built / Renovated 1923/2011 be renovated and occupied with creative office or retail commercial Site Size 42,765 SF / .98 Acres uses. The school will be moving to a new building across the street. Zoning T-6-8 O • Redevelopment Opportunities are immediate. The unique Zoning Allows Retail /Office /Residential /Lodging /Commercial high profile location at the gateway to the Wynwood neighborhood Development Height 8 Stories / 12 with bonus is ideal for a variety of uses, including mixed-use residential, retail, office and apartments.
MIAMI BEACH
95 ARSCHT Performing Arts 395 cENTER
1900 NE Miami ct CEMETERY
BISCAYNE PARK N Miami Ave CITY OWNED
WYNWOOD
1900 NE Miami CT 23 Opportunity Overview: Redevelop or Adaptive Reuse Executive Summary
Key Investment Highlights • “Gateway to Wynwood” Entrance to the emerging market of Wynwood from the south, and also serves as the western entrance to Edgewater.
• High ProfileD ouble Corner. • P oised to be “Iconic location”: A truly unique site that has long term enhanced value as the market further matures. • M ixed-Use Redevelopment Opportunity: Apartments/ Retail / Office / Galleries. Expanding Demand for these uses. • U ser/ Adaptive reuse opportunity for existing 3 story building. • Easy access at stoplight intersection. • Income Opportunities: Lease existing building to creative businesses and event operators while planning redevelopment, reap income, cover carry costs. • E xcellent Signage Exposure / Art Basel Opportunity: Strong market presence / exposure on N. Miami Avenue. Attracts prospective tenants for redevelopment. Advertising and Event income possibilities during BISCAYNE PARK numerous art festivals can be derived while contemplating development CITY OWNED plans and/or incorporated into new uses for the site. • P erfect adjacent properties: Buffered by the amenity of a City park and fire station that insulates the 1900 NE Miami CT site from blocked views by future adjacent development. • E xceptional surrounding amenity base: Galleries, restaurants, culture, 1900 NE Miami ct and nightlife make Wynwood Miami’s hottest neighborhood. NE Miami Ct • Current School Owner will move to building across the street.
NE 20 • E conomic Incentives - Government Sponsored.
th St ZONING DENSITY Highlights
N Miami Ave • H igh density zoning: T6-8. • Zoning allows up to 12 stories, with bonuses. • Maximum Gross Building Area of 267,281 SF. • Maximum Residential Density 490 units.
1900 NE Miami CT 4 Potential Uses Abound –Development or Adapting Existing Building Executive Summary
A charter school presently occupies and operates a school in the 3 story building, and will move to the new school they are building across the SAMPLE USES ALLOWED street. Residential Condos Central Location Apartments • Redevelop entire 42,765 SF site with Mixed-Use Residential and Retail/Office Retail / Office / Technology Project.
Student Housing • Adjacent Public Park a built in amenity. Parking Structures • Retail & Commercial in hot demand on this corridor. Universities & Schools • Technology Firms are flocking to, and co-locating in, Wynwood. Up to 490 Residential Units Allowed 267,281 SF Allowed • Existing 3 Story building could be renovated or repurposed. Temporary rentals for events during festivals and Signage Opportunity, Exposure, Easy Access and development constraints corporate events/Ads. Wall Banner Revenue on adjacent public land make the 1900 NE Miami CT site the prime development opportunity in Wynwood.
1900 NE Miami CT 5 The 1900 NE Miami CT Site is at the Center of All Miami Offers Executive Summary
Strategic Location– Center of Miami • Wynwood: The 1900 NE Miami CT site is the Gateway to Miami’s most Dynamic neighborhood blending commerce, the arts, fashion, dining, and nightlife.
• E dgewater: The hottest residential market in Miami, the 1900 NE Miami CT site is at the western entry to the neighborhood.
• D owntown / Brickell: Business Hub of Miami CBD – 5 minutes to south.
• Arts & Entertainment District: Performing Arts Center & Museums – District is adjacent to the 1900 NE Miami CT site location.
• Midtown / Design District: High end shopping & cutting edge restaurants, minutes north of the Property directly via N Miami Avenue.
• Miami Beach: The Beaches are conveniently 7 minutes via I-395 or I-195.
DOWNTOWN MIAMI BRICKELL 1900 NE Miami ct
ARTS & ENTERTAINMENT
EDGEWATER
WYNWOOD
MIDTOWN
† I-95 to MIAMI BEACH
DESIGN DISTRICT
1900 NE Miami CT 6 Miami’s Gateway To Wynwood & Edgewater Executive Summary
Central Location • The Property has exceptional market presence with its direct exposure on North Miami Avenue, the main thoroughfare connecting the Downtown/Brickell markets with Wynwood, Midtown and the Design District.
• The landmark location of the 1900 NE Miami CT site serves as the southern main entrance to Wynwood from Downtown.
• The 1900 NE Miami CT site is also the western entrance to the Edgewater community of luxurious waterfront condos and homes.
DESIGN DISTRICT MIDTOWN
WYNWOODWYNWOOD
EDWYGNEWWATOODER N Miami Ave 1900 NE Miami ct EDGEWATER
NW 20th St
NE Miami Ct
BISCAYNE PARK CITY OWNED
1900 NE Miami CT 7 Wynwood: Attracting International Notice Executive Summary
Wynwood! Explosive growth • The Wynwood Arts District, is one of the largest and most prominent creative communities in the United States.
• The 1900 NE Miami CT site serves as the entryway to Wynwood from the CBD to the south.
• Miami’s expanding Technology sector co-locates and aggregates in Wynwood, and has experienced significant job growth. Start-up companies are also attracted to Wynwood’s creative work environment. Wynwood regularly hosts networking events for technology and start-up businesses.
• Wynwood is home to many of the region’s largest concentrations of Art Galleries, Retail Stores, Antique Shops, Popular Bars, and one of the largest open-air street-art installations in the world.
• Wynwood is also known for its unique collection of street art and colorful and cutting edge murals adorning buildings throughout the district.
• Nightlife and restaurants are eclectic and destination entertainment.
• The district has exploded over the last few years, and is the playground and workplace for many of the residents in the adjacent Edgewater neighborhood fronting Biscayne Boulevard. 1900 NE Miami ct • The market has superseded Miami Beach as the region’s hippest market.
• Wynwood is Miami’s hub for technology, art, creative businesses, and the next generation of business opportunities. Mixed-Use Development Opportunity • Explosive growth is destined for Wynwood given its central location in the Downtown core, its ease of access to all points in the surrounding neighborhoods/beaches, its expanding amenity base, and is ripe for significant multifamily and retail/office development to meet demand.
• The newest condo project in Wynwood has commanded sales prices in excess of $500/SF.
• R etail Rents: $30/SF NNN to $55/SF NNN.
1900 NE Miami CT 8 Wynwood: Demand Driven Development Executive Summary
DEVELOPMENT ATTRACTED TO Wynwood Wynwood is an emerging growth market and a focal point in Miami for new development answering demand for residential, commercial space, technology firms, start-ups, restaurants, retail, bars, galleries, and artist enclaves. Wynwood has appeal to both local businesses and residents, and has also become a must see for tourists, in addition to hosting events such as the Second Saturday Art Walk and Art Basel.
Galleries To Miami Beach 1 Art Center Miami ore 195 rk 1 NE 36th St 2 Ascaso Gallery NW 36th St
3 Brisky Gallery NW 35th St GIGI 11 HYDE NE 35th St NW 35th St MIDTOWN 4 Curator's Voice Art Projects NW 34th Te BARDOT THE NE 34th St NW 34th St 5 Diana Lowenstein Fine Arts NW 34th St SHOPS AT NE 33rd St
NW 33rd St WYNWOOD NW 33rd St 6 Dina Mitrani Gallery MIDTOWN NE 32nd St PARAISO ONE PARAISO PARAISO NW 32nd St BAYVIEWS NORTH BAY TOWER
NW 32nd St Ave 2nd NE 7 Dot Fifty One 33 ve NE 31st St A PARAISO SOUTH BAY TOWER 1st NE 30th Te 8 Emerson Dorsch NW 31st St NE NE 30th St 9 Espace Expression NW 30th St THE ELECTRIC BISCAYNE PICKLE COMPANY BEACH LEGEND
N N MIAMI AVE MORGANS NE 29th St
NW 2nd Ave 2nd NW
NW 6th Ave 6th NW NW 3rd Ave 3rd NW
NW 5th Ave 5th NW RESTAURANT NE 29th St 10 EVL World NW 29th St 15 WYNWOOD O CINEMA ICON Cultural centers BAY 11 Gallery Diet MUSEO VAULT THE WYNWOOD GATEWAY COMPLEX WYNWOOD NE 28th St NE 27th Te BUILDING BRICK HOUSE PRIDE AND JOY BBQ THE CRIMSON 9 14 NE 27th St ION EAST NW 28th St R HOUSE JIMMY’Z KITCHEN SUVICHE BAY Restaurants & bars 12 Harold Golen 24 31 WYNWOOD WYNWOOD HOUSE 17 BEAKER & GRAY NE 26th Te 22 NW 27th St 7 28 WYNWOOD BLOCK CYNERGI LOFTS 95 NW 27th St WYNWOOD HOUSE NE 26th St Retail/office 13 House of Art WYNWOOD 6 WOOD TAVERN NW 26th St ZAK THE BAKER 13 KITCHEN & BAR THE GREENSPACE SHIKANY 27 WYNWOOD WALLS CAFE BABBO NW 26th St MIAMI 14 Juan Ruiz Gallery LAB 4 20 32 NW 25th St NE 25th St RESIDENTIAL MIAMI EDGEWATER WYNWOOD JOEY’S ITALIAN 21 2 TERMINAL LOFT 23 NE 24th St BREWING WYNWOOD CENTRAL COYO BUILDING 15 Kelley Roy Gallery / Oxenberg Fine Art COMPANY NW 24th St GRAFFE CAFE NE 24th St PANTHER COFFEE TACO 8 Galleries 2300 NW 2ND AVE 18 3 WYNWOOD CAFEINA 26 25 GRAMPS ARCADE NW 23rd St 10 16 23 BISCAYNE BAY 16 Lelia Mordoch Gallery 250 WYNWOOD 12 19 NW 23rd St St NE 23rd St WYNWOOD LOFTS 11 NW 23rd NE 22nd Te MIAMI RUM CLUB 17 M+V Art MANA WYNWOOD 30 SKYVIEW NW 22nd St PRODUCTION VILLAGE THE BUTCHER NE 22nd St SHOP BEER 18 Mindy Solomon Gallery NW 22nd S t GARDEN & GRILL Ave 2nd NE NE 21st St 19 N'Namdi Contemporary WYNWOOD EDGEWATER 5 20 NOW Contemporary Art KUSH BOULEVARD BISCAYNE
NE 20th St
NW 5th Pl 5th NW
N MIAMIN AVE
NW NW MiamiCt
NW NW 1st Ave
NW 2nd Ave 2nd NW NE 19th Te NW NW 1st Ct 21 Pan American Art Projects NW 20th St NW 1st Pl 22 Pop Communications ARTS & ENTERTAINMENT NE Miami Ct NE 19th St NW 19th St Biscayne
23 PSH Projects DISTRICT Park NW Ct4th NW NW 19th St 1900 NE Miami ct ARIA ON THE BAY BAY PARC PLAZA 24 Ricart Gallery NW 18th St Gateway Site OPERA TOWER
NW 2nd NW Ct NE 17th Te Williams PARK 25 Robert Fontaine Gallery LOFTS Park NW 17th St NE 17th St THE CANVAS 26 Sean Havas Adventure Photography Gallery FILLING CONDOS Town STATION NE 16th St 27 The P.T. Experiment Park NW 16th St VENETIAN CSWY 28 The Screening Room Ave 3rd NW NE 15th St NW 15th St I NE 14th T r 29 TUB Gallery Miami MELODYMELODY NE 14th St 30 Unix Contemporary NW 14th St To Miami Beach
ARSHT PLZ HERALD Athalie CENTER MACARTHUR CSWY
31 White Porch Gallery NE 13th St WATSON ISLAND NE 2nd Ave 2nd NE
Range #1 NW 13th St AVE MIAMI N NE 1st Ct 1st NE
32 Wyn 317 Ave 1st NE 395 NE 12th St
33 Bakehouse Art Complex NW 12th St I 1900 NE Miami CT 9
NW 2nd Ave 2nd NW NW 1st Ave 1st NW
NW 1st 1stCt NW NW 1st 1stPl NW
NW 11th Ter NE 11th St I E I D Location at Edgewater’s Gateway to Wynwood Executive Summary
1900 NE Miami CT SITE IS WEST ENTRANCE TO EDGEWATER COMMUNITY Miami’s DYNAMIC MULTI-FAMILY MARKET
marlins 1900 NE Miami ct CORAL stadium GABLES
WYNWOOD
ARTS & ENTERTAINMENT DISTRICT
EDGEWATER
1900 NE Miami CT 10 NE 20th Street Links Wynwood & Edgewater Executive Summary
MIAMI BEACH
395
EDGEWATER
th St KUSH NE 20 Restaurant
NE Miami Ct
1900 NE Miami ct BISCAYNE PARK CITY OWNED N Miami Ave FIRE WYNWOOD STATION CEMETERY
1900 NE Miami CT 11 The Essential “Miami Avenue” Corridor - Links Miami’s Districts Executive Summary
MARY CITY CENTRE BRICKELL VILLAGE 1900 NE Miami ct
WYNWOOD N MIAMI A VE
MIDTOWN
Exceptional Exposure – Attracts Tenants • The Property has 337 feet of frontage along highly traveled North Miami Avenue and 145 feet on NE 20th Street. North Miami Avenue links the 1900 NE Miami CT site with the area’s most prominent mixed use iconic projects including Mary Brickell • The key location provides prospective office and retail tenants with Village, Brickell City Centre, Macy’s and continues to the 1900 NE superior market recognition to visitors, clients, and customers, as Miami CT site’s Gateway location of Wynwood. well as unique signage opportunities.
NW 20 NW 2nd AVE 1900 NE Miami ct WYNWOOD DESIGN TH Mary Brickell Village ST DISTRICT Residential
NE 36 41 Brickell City Centre NE MIAMI CT Midtown Miami ARTS & Retail/Residential TH
ST
Mixed Use FLAGLER ST 395 Retail/Residential DOWNTOWN OFFICE CORE ENTERTAINMENT NE 2nd AVE 1 BISCAYNE BLVD EDGEWATER BRICKELL 1 1900 NE Miami CT 12
9 Miracle 1900 NE MIAMI CT Marketplace North Miami Avenue-Wynwood Segment Executive Summary
NORTH Miami avenue COMMERCIAL CORRIDOR N. Miami Avenue is Wynwood’s direct path to the Downtown CBD to the south & Midtown to the north. Expansion of business and amenities along this key corridor has been impressive in the immediate area of the 1900 NE Miami CT site and through Wynwood. A sample of businesses located along this important corridor are detailed below.
W W
W W 1 NW 1
15th 18th St 16th
14th 9th 9th St
NW 34th St NW 34th Te NW 35th St
NW33rdSt NW 1st Ct PSH PROJECTS JIMMY’Z KITCHEN O CINEMA GALLERY WYNWOOD
St NW 1st Ave WYNWOOD
St NW 1st Ave St PRIDE AND KUSH MEGA WYNWOOD C1 JOY BBQ MIAMI RUM CLUB RESTAURANT SHOES ARCADE RETAIL NW Miami Ct BANK CYNERGI THE ELECTRIC 1900 NE Miami ct VILORIA CAFE LOFTS PICKLE LOUNGE GALLERY BABO 195
N MIAMI AVE NW32ndSt
MIAMI NW 31st St 395 NW 30th St GIGI N MIAMI AVE PROHIBITION RESTAURANT SPACE BY 3 RESTAURANT MORGANS BARDOT N MIAMI AVE MIAMI LOCK & LOAD BEAKER RESTAURANT HANDCRAFTED LOUNGE RUM CLUB GUN RANGE & GRAY TATTOO
NE 11t NE St 15th NE St 14th THE NE Miami Ct BAR
I FILLING PARK DIANA LOWENSTINE LELIA MORDOCH GRAFFE SUVICHE KELLY ROY NE 1st Ave HYDE STATION LOFTS NE St 19th GALLERY GALLERY CAFE RESTAURANT GALLERY MIDTOWN
hSt
NE St 28th NW 26th St
NE St 20th APTS. NE 22nd St NESt 23rd NE St 24th NE St 25th BISCAYNE NE St 21st
NE 1st Ave PARK NE St 29th
NE 17th St 17th NE NE St16th MIDTOWN NE 1st Ct NE 2nd Ave
I NE 2nd Ave
1900 NE Miami CT 13 Surrounding Public Owned Sites Executive Summary
Neighboring public owned land ensures a tranquil environment - free from intrusive development.
FIRE STATION
1900 NE Miami ct
CEMETERY
NE Miami Ct
NE 20 BISCAYNE PARK CITY OWNED th
St
VIEW LOOKING WEST
1900 NE Miami CT 14 Site Plan Executive Summary
KUSH Restaurant NE 20th Street
th St NE 20
PARKING NOT PART OF OFFERING RAILROAD 42,765 SF
NE 19th Terrace
NE Miami Court N Miami Avenue
50,317 SF 1900 NE Miami ct 3 STORY NOT PART OF OFFERING EXISTING OFFICE CHARTER
N Miami Ave SCHOOL UNDER CONSTRUCTION
NE 19th Street
NOT PART OF OFFERING PARKING
BISCAYNE PARK FIRE STATION CITY OWNED FIRE STATION PUBLIC PARK 1900 NE Miami CT 15 1900 NE Miami CT Site Photos Executive Summary
1900 NE Miami ct
1900 NE Miami CT 16 Surrounding Views Executive Summary
1900 NE Miami ct 1900 NE Miami ct
s EAST t NORTH s SOUTH t WEST
1900 NE Miami ct
1900 NE Miami ct
1900 NE Miami CT 17 Contacts Executive Summary
FIRE STATION BISCAYNE PARK CITY OWNED
1900 NE Miami ct
N Miami Ave
NE Miami Ct
KUSH Restaurant NE 20th St 1900 NE Miami ct
VIEW LOOKING SOUTH
For More Information, Contact: THE OFFERING PROCESS Primary Contact: Additional contact: The 1900 NE Miami CT site is being offered subject to limiting conditions JOHN F. BELL William Hart described in the Offering Memorandum and the Confidentiality Agreement. Managing Director Financial Analyst Capital Markets [email protected] [email protected] 305.808.7820 305.808.7314
100 SE 2nd Street, Suite 3100 | Miami, Florida 33131 | P: 305.808.7310 | www.transwestern.com/Miami
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to omissions, change of price, rental or other condition, without notice, and to any listing conditions, imposed by the Owner. Property description
Property Description
Property Highlights
Site Specifications
Building Specifications
Pictures
1900 NE Miami CT 19 Introduction Property description
Property Overview
1900 NE Miami CT is a 42,765 SF site located at the Gateway to Wynwood and Edgewater, improved 1900 N. Miami Court, Miami, Florida with a 50,317 square foot, three story, commercial building currently being operated as a charter Price Unpriced school. The school will move from the building to a new facility across the street, upon sale of the Property. Size NRA 50,317 SF Stories 3 The site is ideal for redevelopment with a mixture of uses including high density residential, retail, apartments, galleries, offices, and a variety of creative commercial space. The exiting Floorplate Size 16,700 SF (approx.) commercial building could also be reconfigured for these uses. Occupancy 50% Year Built/ The building was constructed in 1923 as a car manufacturing facility and was converted to a school 1923/2004 use approximately 34 years ago, then was renovated by its current tenant, a charter school, in 2004. Renovated 42,765 SF Site Size The fully sprinklered building is approximately 50 percent used by the charter school owner. The .98 Acres ground floor is raw space with concrete floors and exposed concrete block walls, and is not being Parking 18 Spaces used or occupied other than for storage, while the second floor is being fully used by the school as classrooms and offices. Approximately half of the third floor is being used as classrooms, and the Charter school will vacate Current User remaining half is unfinished space not being used by the school. into building being built.
N Miami Ave
FIRE STATION NE 20 1900 NE Miami ct th St
N Miami Ct
1900 NE Miami CT 20 View Facing South Property description
BRICKELL Property Highlights DOWNTOWN • Redevelopment Opportunity: Retail / Office / Technology /G alleries / Apartments – Mixed-Use. Strong demand for these uses.
• Adaptive Reuse: Use existing structure, reconfigure for retail, commercial, art studios, open plan office, & esidentialr lofts.
I-395 to Miami Beach • Gateway Location to both Wynwood & Edgewater.
• Soon to be “Iconic location.”
• Income Opportunities: Lease existing building to creative businesses and event operators while planning redevelopment, reap income, cover carry costs.
• Convenient Access at stop light, “Double Corner Site.”
• Strong Market Presence & Exposure on important N. Miami Avenue Corridor: Attracts tenants, with signage opportunity and temporary income from festival and art show events.
N Miami Ave • Critical Mass Advantages: The site is large enough to warrant redevelopment with a variety of mixed use Projects. 1900 NE Miami ct • Perfect Adjacent Properties: Buffered by a park and fire station from future adjacent competing or nuisance future development. Park is free amenity for users of the Property.
• Central Location: Minutes to Downtown, Brickell & Miami Beach.
• Government Economic Incentives: Located in both an Empowerment and Enterprise Zone, and eligible for, “New Markets Tax Credit.”
• Highest density and greatest variety of allowed uses zoning in Wynwood: NE 20 Development advantage. th St • Strong surrounding amenity base of the Wynwood and Edgewater markets.
1900 NE Miami CT 21 Wynwood Demand Dynamic Wynwood Demand Dynamic PROPERTYProperty DESCRIPTION description
DemandDemand for for Following Following Uses Uses is is Robust Robust AllowedAllowed Development: Development: 299,000 267,281 SF SF / /549 490 Residential Residential Units Units Apartments
Residential Hospitality Condos
Special Retail / Events Restaurants
Galleries / Office / Arts Technology
1900 NE Miami CT 22 View Facing East Property description
BISCAYNE PARK CITY OWNED
N Miami Ave
KUSH Restaurant
1900 NE Miami CT 23 Gateway Location Property description
The Property is located at the south entrance to Wynwood, and the gateway to Edgewa- ter from the west. Wynwood is Miami’s most dynamic market attracting creative businesses, and investment from around the world. The EDGEWATER market is teeming with art, amenities, culture, business, technology, and retailers attracted by the international reputation of this emerging focal point of creativity in Miami.
A full analysis and detail of the Wynwood, Edgewater, Design District, and Midtown mar- kets that the Property benefits from proximity to is detailed in this offering after the Property 1900 NE Miami ct Description. th NE 20 St
To Miami Beach To Miami Beach ore 195 ore 195 rk 1 NE 36th St rk NW 36th1 St NE 36th St NW 36th St NW 35th St NW 35th St GIGI 11 HYDE NE 35th St NW 35th St GIGI 11 HYDE NE 35thMIDTOWN St NW 35th St BARDOT MIDTOWN NW 34thBARDOT Te NW 34th Te THE NE 34th St NW 34th St THE NE 34th St NW 34th St NW 34th St NW 34th St SHOPS AT NE 33rd St SHOPS AT NE 33rd St WYNWOODNW 33rd St WYNWOOD NW 33rd St NW 33rd St NW 33rd St MIDTOWN NE 32nd St ONE MIDTOWN NE 32nd St PARAISO PARAISO PARAISO ONE PARAISO NW 32nd St PARAISO BAYVIEWSPARAISONORTH BAY TOWER
NW 32nd St Ave 2nd NE 33 NW 32nd St ve NEBAYVIEWS 31st StNORTH BAY TOWER
NW 32nd St Ave 2nd NE 33 ve A NE 31st St PARAISO A PARAISO SOUTH BAY TOWER 1st SOUTHNE BAY 30th TOWER Te BISCAYNE PARK NW 31st St 1st NE 30th Te NW 31st St NE NE 30th St NE NE 30th St BISCAYNE NW 30th St THE ELECTRIC BISCAYNE CITY OWNED NW 30th St THE ELECTRIC PICKLE COMPANY BEACH PICKLE COMPANY BEACH
N N MIAMI AVE MORGANS NE 29th St
NW 2nd Ave 2nd NW
NW 6th Ave 6th NW NW 3rd Ave 3rd NW
N N MIAMI AVE NE 29th St
NW 5th Ave 5th NW MORGANS NE 29th St NW 2nd Ave 2nd NW
NW 6th Ave 6th NW RESTAURANT NW 3rd Ave 3rd NW
NW 5th Ave 5th NW NW 29th St RESTAURANT NE 29th St NW 29th St 15 FIRE WYNWOOD O CINEMA15 ICON WYNWOOD O CINEMA WYNWOOD ICON BAY MUSEO VAULT THE WYNWOOD GATEWAY COMPLEX NE 28th St BAY NE 27th Te MUSEO VAULT THE WYNWOOD GATEWAY COMPLEX WYNWOOD NE 28th St NE 27th Te BUILDING BRICK HOUSE PRIDE AND JOY BBQ ION EAST THE CRIMSON BUILDING9 14 BRICK HOUSE PRIDE AND JOY BBQ IONNE EAST 27th St THE CRIMSON STATION NW 28th9 St14 R HOUSE JIMMY’Z KITCHEN SUVICHE NE 27th St BAY NW 28th St 24 R HOUSE JIMMY’Z31 KITCHEN SUVICHE BAY HOUSE 17 31 WYNWOOD WYNWOOD NE 26th Te HOUSE 24 17 NWWYNWOOD 27th St WYNWOOD7 BEAKER & GRAY NE 26th Te NW 27th22 St 7 BEAKER & GRAY 95 NW 27th22 St 28 WYNWOOD BLOCK CYNERGI LOFTS 95 WYNWOOD HOUSE28 WYNWOOD BLOCK CYNERGI LOFTS NE 26th St NW 27th St WYNWOOD HOUSE 6 WOOD TAVERN NW 26th St NE 26th St ZAKWYNWOOD THE BAKER 136 KITCHENWOOD TAVERN & BAR NW 26th St ZAK THE BAKER 13 KITCHEN & BAR THE GREENSPACE SHIKANY 27 WYNWOOD WALLS CAFE BABBO THENW 26thGREENSPACE St SHIKANY 27 WYNWOOD WALLS CAFE BABBO MIAMI NW 26th St LAB 4 MIAMI20 32 NW 25th St NE 25th St LAB MIAMI4 20 32 NW 25th St NE 25th St EDGEWATER MIAMIWYNWOOD JOEY’S ITALIAN 21 2 TERMINAL LOFT 23 EDGEWATER WYNWOOD JOEY’S ITALIAN 21 TERMINAL LOFT 23 NE 24th St BREWING WYNWOOD2 CENTRAL COYO BUILDING NE 24th St BREWING COMPANY WYNWOODNW 24th CENTRAL St COYO BUILDING GRAFFE CAFE NE 24th St COMPANY NW 24th St PANTHER COFFEE TACOGRAFFE8 CAFE NE 24th St PANTHER2300 NW COFFEE 2ND AVETACO 8 WYNWOOD 2300 NW 2ND AVE CAFEINA 26 25 18 3 26 25 18 3 GRAMPSWYNWOOD ARCADE CEMETERY CAFEINANW 23rd St GRAMPS 10 ARCADE 16 23 BISCAYNE BAY NW 23rd St 250 WYNWOOD10 12 19 16 23 BISCAYNE BAY NW 23rd St250 WYNWOOD 12 19 St NE 23rd St NW 23rd St WYNWOOD LOFTS 11 St NW 23rd NE 23rd St NE 22nd Te WYNWOOD LOFTS 11 NW 23rd MIAMI RUM CLUB NE 22nd Te MIAMI RUM CLUB MANA WYNWOOD 30 SKYVIEW NWMANA 22nd WYNWOOD St PRODUCTION VILLAGE30 THE BUTCHER NE 22nd St SKYVIEW NW 22nd St PRODUCTION VILLAGE THE BUTCHER SHOP BEER NE 22nd St
NW 22nd SHOP St BEER GARDEN & GRILL Ave 2nd NE NW 22nd S t GARDEN & GRILL Ave 2nd NE NE 21st St WYNWOOD NE 21st St EDGEWATER 5 5 KUSH BOULEVARD BISCAYNE KUSH BOULEVARD BISCAYNE
NE 20th St
NW 5th Pl 5th NW
N MIAMIN AVE NW NW MiamiCt
NW NW 1st Ave NE 20th St
NW 2nd Ave 2nd NW NE 19th Te
NW NW 1st Ct
NW NW 1st Pl
NW 5th Pl 5th NW
N MIAMIN AVE
NW NW MiamiCt
NW NW 1st Ave
NW 2nd Ave 2nd NW NE 19th Te
NW NW 1st Ct NW 20th St NW 1st Pl NW 20th St N Miami Ave
NE Miami Ct NE 19th St ARTS & ENTERTAINMENT NE Miami Ct NE 19th St ARTS & ENTERTAINMENTNW 19th St Biscayne NW 19th St Biscayne
DISTRICTDISTRICT Park Park NW Ct4th NW
NW Ct4th NW NW 19th St 1900 NE Miami ct ARIA ON THE BAY NW 19th St ARIA ON THE BAY Gateway BAY PARC PLAZA NW 18th St BAY PARC PLAZA OPERA TOWER NW 18th St Site OPERA TOWER
NW 2nd NW Ct NE 17th Te
Williams 2nd NW Ct NE 17th Te Williams PARK PARK LOFTS Park LOFTS NE 17th St Park NW 17th St NW 17th St NE 17th St THE CANVAS THE CANVAS CONDOS CONDOSFILLING FILLING STATION Town STATION NE 16th St Town NW 16th St NE 16th St Park Park NW 16th St VENETIAN CSWY
NW 3rd Ave 3rd NW VENETIAN CSWY
NW 3rd Ave 3rd NW NE 15th St NW 15th St NE 15th St NW 15th St NE 14th T r I I NE 14th T r MELODYMELODY NE 14th StMELODYMELODY NW 14th St NE 14th St NW 14th St To Miami BeachTo Miami Beach
ARSHT PLZ HERALD
ARSHT PLZ HERALD Athalie CENTER MACARTHUR CSWY Athalie CENTER NE 13th St MACARTHUR CSWY WATSON ISLAND
NE 2nd Ave 2nd NE NE 13th St WATSON ISLAND NE 2nd Ave 2nd NE
Range #1 NW 13th St AVE MIAMI N
Range #1 NW 13th St AVE MIAMI N
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NE 1st Ct 1st NE NE 1st Ave 1st NE 395 395 NE 12th St NE 12th St
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D E I I D 1900 NE Miami CT 24 Wynwood Property description
WYNWOOD
1900 NE Miami ct
NE 20 th St
N Miami Ave
EDGEWATER
1900 NE Miami CT 25 The Site Property description
Site Highlights
• 337 feet of frontage on N Miami Avenue. Folio: 01-3136-002-0340 Assessed Value • 145 feet of frontage on NE 20th Street. L and $1,435,500 • The 42,765 SF rectangular site has flexible utility with multiple street frontage. Building Value $734,028 • High Profile entryway to Wynwood, Edgewater, & Midtown. Extra Feature Value $57,94 8 Market Value $2, 2 27,476 • Billboard on west side of site fronting N. Miami Avenue is not a part of offering. Assessed Value $2,029,946
NE 20th Street
N Miami Ave
PARKING NOT PART OF OFFERING RAILROAD 42,765 SF NE 20 NE 19th Terrace
th NE Miami Court N Miami Avenue St
50,317 SF 3 STORY NOT PART OF OFFERING EXISTING OFFICE CHARTER SCHOOL UNDER CONSTRUCTION
NE 19th Street
NOT PART OF OFFERING PARKING
BISCAYNE PARK FIRE STATION CITY OWNED
1900 NE Miami CT 26 Site Data Property description
Site Data Address 1900 NE Miami Ct Miami, FL 33132 Lot Size 42,765 Sq.Ft (Per Survey) Tax Parcel Number 01-3136-002-0340 - Current use exempt from paying real estate taxes. Topography The site is generally level and at street grade.
Frontage The Property benefits from a double corner location, with 337 feet of frontage along N Miami Avenue, 145 feet along NE 20th Street, and 337 feet along NE Miami Ct. Ingress/Egress Access to and from the site is accomplished via curb cuts located on NE 20th Street and NE Miami Ct. Signage The site has a billboard fronting NE 20th Street, it’s lease has expired and the tenant is paying $1,200 per year. Parking 18 paved surface spaces Zoning T6-8-O: The zoning section of the report details allowed uses in detail. Owner has the right to build high density multifamily, hotel, office, commer- cial and retail space. The Property enjoys one of the most intense density and greatest allowed residential and commercial uses within the Wynwood District, a distinct competitive advantage over a significant portion of sites in the community that have more restrictive zoning. Landscaping There is minimal landscaping at the Property. Railroad Track The Railroad site to the west of the Property runs parallel to N. Miami Avenue and the Property site. The billboard on the site along N. Miami Avenue belongs to the railroad, FECR, and is not a part of the offering. Adjacent Uses The site adjacent to the south is the Miami-Dade County Fie Department, and the site to the S/E is the Biscayne Park, a city of Miami owned amenity for the neighborhood.
BISCAYNE PARK CITY OWNED
1900 NE Miami CT 27 View Facing West Property description
KUSH restaurant
N Miami Ave
N Miami Ct
Charter School Under Construction
1900 NE Miami CT 28 Improvements Specifications Property description
Site Data
Year Built / Renovated 1923 / Renovated for school use in 2004.
Building Size 50,317 SF per Miami-Dade Tax Appraiser.
Occupancy 50% used by school owner/user. First Floor is vacant, second floor has school’s main entrance and classrooms, and the third floor is half class- rooms and half vacant unfinished space.
Floorplate Size 16,700 SF for each floor, approximate.
Floor 1 • Exposed concrete floors / columns-used for storage. • No A/C system or ducts in place. • Loading Dock and 3 Rollup Doors. • Elevator South Entrance.
Floor 2 • Full floor used as main entrance to school, classrooms and offices. • Kitchen / Prepping Area for student lunches.
Floor 3 • Half of space is used for classrooms, other half of floor is used as raw storage area. • Former owner left equipment.
Bathrooms A common area men’s and women’s group bathroom on the second and third floors. Also, 2 private bathrooms on both the second and third floors.
Interiors The classrooms have painted concrete block walls, acoustical tile ceilings, and fluorescent and incandescent lighting fixtures.
Stairwells Exterior stairwells on the north and south side of building, and an interior stairwell at the northwest corner of building.
Construction Steel and concrete columns, concrete beams and load-bearing reinforced concrete masonry unit interior walls. Components
Exterior Walls Concrete Block.
Roofing Tar and gravel.
HAVC Roof top mounted split system with one cooling tower and two 10-ton Trane units.
Fire/Life Safety All three levels of the building are wet sprinklered.
Elevator Elevator at the SW corner of building.
Utilities Water and Sewer: City of Miami. Electrical: Florida Power and Light.
1900 NE Miami CT 29 Floorplates Property description Floorplans PROPERTY DESCRIPTION Proposed renovation plans that school decided not to undertake, and instead are building a new school. Presented for floorplate layout purposes, half of third floor is actually vacant unfinished space.
1900 NE Miami CT 30 View Facing East Property description
MIAMI BEACH
CEMETERY
NE 20
BISCAYNE PARK th CITY OWNED St
FIRE STATION
N Miami Ave
1900 NE Miami CT 31 View Facing South Property description
BRIBrickellCKELL DOWNTOWN
ARSCHT Performing Arts cENTER 1900 NE Miami ct
N Miami Ave
Biscayne Blvd
1900 NE Miami CT 32 Overhead Views of the Property Property description
WYNWOOD 1900 NE Miami ct
1900 NE Miami CT 33 Overhead Views of the Property Property description
1900 NE Miami CT 34 School Build Out Property Description
1900 NE Miami CT 35 Vacant Space in Property Property Description
THIRD FLOOR RAW SPACE
FIRST FLOOR RAW SPACE
1900 NE Miami CT 36 Wynwood overview
Wynwood Overview
Technology District
Amenities Map
Restaurants
Edgewater
Midtown
Design District
1900 NE Miami CT 37 Wynwood – Where Business Meets Culture Wynwood Overview
Wynwood Business Community Wynwood is a diverse home to many of the region’s creative businesses and is a focal point for Mi- ami’s growing technology community, while also serving as Miami’s art hub, resulting in a dynamic and trendy business enclave. The district also includes a vast selection of art galleries, retail stores, antique shops, cutting edge bars, and one of the largest open-air street-art installations in the world featuring colorful murals on the side of businesses throughout the emerging neighborhood.
Wynwood Highlights Include: • Wynwood is Miami’s most artistically dynamic and diverse neighborhood. It is home to over 70 galleries, museums and collections, with a reputation as the center of Miami’s arts and culture community. • The gentrified neighborhood’s renaissance has transformed former warehouse spaces into retail shops, galleries, performing art spaces, restaurants, cafes, and showrooms. Wynwood is now one of the most desirable real estate markets in Miami. • Creative businesses of all types flock to Wynwood, and encounter success in this vibrant neighborhood, which is one of the largest and most prominent creative communities in the United States, garnering international attention. • A growing technology and start-up community has co-located in Wynwood, and is home to many networking events for technology and start-up businesses. • The neighborhood is centrally located within the CBD, with the Design District to its north (two minutes), Downtown Miami to its south (seven minutes) and Miami Beach just over the causeway. • Wynwood in its entirety is also known as an outdoor street art museum, unrivaled by any other in its mix of high-brow artists joining in on the up-and-coming scene and street artists who create art on walls of businesses and residences. Wall space is covered in colorful murals of all kinds. Expect to see animals made-up of thousands of lines, large-scale portraits, giant cartoon-style scenes, hyper- realistic paintings and much, much more, which can be seen from I-95 as well. • Wynwood is the center of culture and hip happenings in Miami, drawing thousands during Art Basel for its pop up parties and galleries and inspiring unusual collaborations between musicians, artists, graphic designers, commercial brands and all kinds of creative types. It also hosts recurring monthly art events drawing large crowds and further enhancing its mystique. • The national and international real estate community have taken notice. New tenants including Ralph Pucci, Fantini Mosaici and Ducati have committed. Leasing activity is at a fever pitch. • Wynwood is roughly bounded by NW 36th Street (north), NE 20th Street (south), I-95 (west) and the railroad tracks (east).
1900 NE Miami CT 38 Wynwood Aerial Wynwood Overview
95 MIDTOWN
N Miami Ave
1900 NE Miami ct NW 20th St
NE Miami Ct
1900 NE Miami CT 39 Wynwood Art Streetscapes Wynwood Overview
1900 NE Miami CT 40 Wynwood Technology District Wynwood Overview
The 1900 NE Miami CT site is ideal to be retrofitted or redeveloped with a technology business component. Wynwood is becoming the hub for creativity and tech development in Miami. There is a growing base of tech start-up firms in Wynwood, as these firms prefer to co-locate in creative environments, which has spurred tech oriented ventures and Wynwood in turn has become a hotbed for tech innovation.
W.A.M. Miami The Workshop for Advanced Manufacturing, or W.A.M. Miami, is a collaborative workspace where individuals and small businesses utilize digital fabrication tools and techniques to grow their capabilities or expand their business. The Workshop offers membership and service access to machines, electronics and design knowledge.
Wyncode Academy A tech Industry Boot Camp offering 9 Week Programs for Students, teaching code. MNCs and Start-ups alike are headquartered in Miami. From the rookie to the CEO, the scene is diverse and ambitious.
Iphone Factory The iPhone Factory is another Wynwood tech firm that specializes in smart phone repair.
The LAB Miami This coworking center is full of entrepreneurs and technology focused business, and is a campus for social and tech innovation.
YellowPepper YellowPepper moved its headquarters to Wynwood in 2014 and provides mobile banking and payment applications, mostly in Latin America.
LearnerNation LearnerNation is an online training platform for business that makes it easy to create and deliver dynamic learning experiences. It offers organizations the ability to create dynamic learning content and monitor user progress through industry-leading analytics and next generation intelligence.
1900 NE Miami CT 41 EclecticEclectic && GrowingGrowing Amenities Amenities - - Attracts Attracts Tenants Tenants & &Businesses Businesses WynWynwoodwood O Overviewverview
Restaurants Retail Galleries Wynwood Wynwood Advantage Wynwood Wynwood Advantage Kush Wynwood 1 of K Denim Graffe Café Art Center Miami ThThee PPrropertyoperty eenjoysnjoys aann abun- Beaker & Gray Caveat Ascaso Gallery adancebund ofan nearbyce of n eamenitiesarby that Jimmy'z Kitchen Wynwood Malaquita Brisky Gallery aattractmenit iprospectivees that attra residentialct SuViche Mega Shoes Pride and Joy BBQ Curator's Voice Art Projects pandros commercialpective res itenantsdential aton dthe MVM Miami The Electric Pickle Company csiteom mfore rcitsia lquality tenant sof t olife th eand BNMR Diana Lowenstein Fine Arts Morgans Restaurant scommunityite for its q ofua likelity omindedf life and Britto Charette Dina Mitrani Gallery Bardot acreativettractio businesses.n of like minded gigi CABLE Design Dot Fifty One creative businesses. Coyo Taco CAVEAT Emerson Dorsch Panther Coffee It is also home to numerous ELEMENTAL Espace Expression The Butcher Shop Beer Garden & Grill Ittechnology is also home firms to numerous and start-up EVL World Cafeina EVL World technologyfirms lured firmsby the and amenity start-up rich Fantini Mosaici Gramps Gallery Diet firmsenvironment. lured by the amenity rich Wynwood Brewing Company Frangipani Harold Golen environment. Shikany glottman Shoroom Wynwood Brewing Company JAN-KATH House of Art Wynwood Kitchen & Bar Cinema + Performance Lock & Load Miami Juan Ruiz Gallery Cafe Babbo Miami MERIDIANI Kelley Roy Gallery / Oxenberg Fine Art Wynwood Joey's Italian Cafe Wood Tavern Midtown Lelia Mordoch Gallery Miami Light Project jugofresh AT&T Wireless M+V Art O Cinema Zak the Baker Beya Mindy Solomon Gallery Museums + Collections R House Wynwood Carter's Brick House N'Namdi Contemporary Compose Decor USA Wynwood Midtown NOW Contemporary Art 100 Montaditos Everything Mobile Margulies Collection Pan American Art Projects FootLocker Bar Louie Museum of Fashion Baru Urbano Guess Factory Store Pop Communications Rubell Family Collection Daily Melt HomeGoods PSH Projects Five Guys Burgers and Fries Lucky Charms Ricart Gallery The Chill Concept Giraffas Marshalls Hurricane Grill & Wings Robert Fontaine Gallery Wynwood Walls Miami Treasures IT Espresso Lounge Sean Havas Adventure Photography Gallery Art Complex Lime Fresh Mexican Grill Payless ShoeSource The P.T. Experiment Pinkberry Ross Dress For Less Wynwood Ricky Bakery The Screening Room Sports Authority Bakehouse Art Complex Sakaya Kitchen TUB Gallery Miami Target Spris Mitrani Warehouse Unix Contemporary Subway T-Mobile Soho Studios Wine Vault Treasure Boutique White Porch Gallery World of Beer West Elm Wyn 317 The Wynwood Warehouse
1900 NE Miami CT 42 Wynwood Amenities Map Wynwood Overview
Galleries To Miami Beach 1 Art Center Miami ore 195 rk 1 NE 36th St 2 Ascaso Gallery NW 36th St
3 Brisky Gallery NW 35th St GIGI 11 HYDE NE 35th St NW 35th St MIDTOWN 4 Curator's Voice Art Projects NW 34th Te BARDOT THE NE 34th St NW 34th St 5 Diana Lowenstein Fine Arts NW 34th St SHOPS AT NE 33rd St
NW 33rd St WYNWOOD NW 33rd St 6 Dina Mitrani Gallery MIDTOWN NE 32nd St PARAISO ONE PARAISO PARAISO NW 32nd St BAYVIEWS NORTH BAY TOWER
NW 32nd St Ave 2nd NE 7 Dot Fifty One 33 ve NE 31st St A PARAISO VE SOUTH BAY TOWER 1st NE 30th Te 8 Emerson Dorsch NW 31st St NE NE 30th St 9 Espace Expression NW 30th St THE ELECTRIC BISCAYNE PICKLE COMPANY BEACH LEGEND
N N MIAMI A MORGANS NE 29th St
NW 2nd Ave 2nd NW
NW 6th Ave 6th NW NW 3rd Ave 3rd NW
10 EVL World Ave 5th NW RESTAURANT NE 29th St NW 29th St 15 WYNWOOD O CINEMA ICON cultural centers BAY 11 Gallery Diet MUSEO VAULT THE WYNWOOD GATEWAY COMPLEX WYNWOOD NE 28th St NE 27th Te BUILDING BRICK HOUSE PRIDE AND JOY BBQ THE CRIMSON 9 14 NE 27th St ION EAST NW 28th St R HOUSE JIMMY’Z KITCHEN SUVICHE BAY rESTAURANTS & bARS 12 Harold Golen 24 31 WYNWOOD WYNWOOD HOUSE 17 BEAKER & GRAY NE 26th Te 22 NW 27th St 7 28 WYNWOOD BLOCK CYNERGI LOFTS 13 House of Art 95 NW 27th St WYNWOOD HOUSE NE 26th St rETAIL/oFFICE WYNWOOD 6 WOOD TAVERN NW 26th St ZAK THE BAKER 13 KITCHEN & BAR THE GREENSPACE SHIKANY 27 WYNWOOD WALLS CAFE BABBO NW 26th St MIAMI 14 Juan Ruiz Gallery LAB 4 20 32 NW 25th St NE 25th St RESIDENTIAL MIAMI EDGEWATER WYNWOOD JOEY’S ITALIAN 21 2 TERMINAL LOFT 23 NE 24th St BREWING WYNWOOD CENTRAL COYO BUILDING 15 Kelley Roy Gallery / Oxenberg Fine Art COMPANY NW 24th St GRAFFE CAFE NE 24th St gALLERIES PANTHER COFFEE TACO 8 2300 NW 2ND AVE 18 3 WYNWOOD CAFEINA 26 25 GRAMPS ARCADE NW 23rd St 10 16 23 BISCAYNE BAY 16 Lelia Mordoch Gallery 250 WYNWOOD 12 19 NW 23rd St St NE 23rd St WYNWOOD LOFTS 11 NW 23rd NE 22nd Te MIAMI RUM CLUB 17 M+V Art MANA WYNWOOD 30 SKYVIEW NW 22nd St PRODUCTION VILLAGE THE BUTCHER NE 22nd St SHOP BEER 18 Mindy Solomon Gallery NW 22nd St GARDEN & GRILL Ave 2nd NE NE 21st St 19 N'Namdi Contemporary WYNWOOD EDGEWATER 5 20 NOW Contemporary Art KUSH BOULEVARD BISCAYNE
NE 20th St
NW 5th Pl 5th NW
N MIAMIN AVE
NW NW MiamiCt
NW NW 1st Ave
NW 2nd Ave 2nd NW NE 19th Te NW NW 1st Ct 21 Pan American Art Projects NW 20th St NW 1st Pl
22 Pop Communications ARTS & ENTERTAINMENT NE Miami Ct NE 19th St NW 19th St Biscayne
23 PSH Projects DISTRICT Park NW Ct4th NW NW 19th St 1900 NE Miami ct ARIA ON THE BAY BAY PARC PLAZA 24 Ricart Gallery NW 18th St Gateway Site OPERA TOWER Williams 2nd NW Ct NE 17th Te 25 Robert Fontaine Gallery PARK LOFTS Park NW 17th St NE 17th St 26 Sean Havas Adventure Photography Gallery THE CANVAS FILLING CONDOS Town STATION NE 16th St 27 The P.T. Experiment Park NW 16th St VENETIAN CSWY 28 The Screening Room Ave 3rd NW NE 15th St NW 15th St 29 TUB Gallery Miami I NE 14th T r MELODYMELODY NE 14th St 30 Unix Contemporary NW 14th St To Miami Beach
ARSHT PLZ HERALD Athalie CENTER MACARTHUR CSWY
31 White Porch Gallery NE 13th St WATSON ISLAND NE 2nd Ave 2nd NE
Range #1 NW 13th St AVE MIAMI N NE 1st Ct 1st NE
32 Wyn 317 Ave 1st NE 395 NE 12th St
33 Bakehouse Art Complex NW 12th St I
NW 2nd Ave 2nd NW NW 1st Ave 1st NW
NW 1st 1stCt NW NW 1st 1stPl NW
NW 11th Ter NE 11th St I E I D 1900 NE Miami CT 43 Restaurants Wynwood Overview
Restaurants: WYNWOOD RESTAURANT’S & NIGHTLIFE ATTRACT TENANTS Kush ¤ • The Wynwood Market is rich with restaurants and bars, providing an extensive amenity base that attracts business, locals, and tourists. 2003 North Miami Avenue • The N Miami Avenue Corridor that the Property fronts is a major restaurant, retail and commercial corridor. Kush opened a year ago in March of 2014, and is located directly across from the Aspira site.
Focus• is Aon retail craft beersor restaurant and burgers. component Kush has one would of the be most ideal diverse for acraft portion beer selection of the 1900 in the N Miami CT site. area, and• The everything NW 2nd on the Avenue menu iscorridor sourced islocally. another Take major the alligator restaurant bites, andmade retail from Floridaarterial in Wynwood. gator, or one of its five specialty burgers. Beef is delivered weekly from Cowart Ranch and ground• by The hand following in house sectionevery day. details The New a sampling Times awarded of the it extensivethe best burger restaurant in Miami and during bar amenities that attract creative retail, office, and residential tenants to 2014. Wynwood, and are a demand driver for potential development at the Property.
Kush 2003 North Miami Avenue Graffe Café ¤ Kush opened a year ago in March of 2014, and is located 2400 N Miami Avenue directly across from the Property. Focus is on craft beers Graffe Café ¤ and burgers. Kush has one of the most diverse craft beer A Graff themed2400 CafeN Miami in Miami's Aveselectionsnue arts district.in the area, Located and everything in the heart on the of menu Wynwood is (Miami, FL) Graffé Cafe is bringing the flavor,A Graff themedcultural, Cafe sourcedand in Miami'ssocial locally. experience arts Take district. the alligator Located to an bites,area in the madek heartnown from of for Wynwood Flor its- diverse (Miami, community. FL) Graffé Cafe is bringing the flavor,ida cultural, gator, andor one social of itsexperience five specialty to an areaburgers. known Beef for is itsde- diverse community. livered weekly from Cowart Ranch and ground by hand in house every day. The New Times awarded it the best burger in Miami during 2014.
Graffé Cafe
Graffe Café ¤ 2400 N Miami Avenue 2400 N Miami Avenue A Graff themed Cafe in Miami's arts district. Located in the heart of Wynwood (Miami, FL) Graffé Cafe is bringing the flavor, cultural, and social experience to an area known for its diverse community. A Graffé themed Cafe in Miami’s arts district. Located in the heart of Wynwood. Graffé Cafe is bringing the flavor, cultural, and social experience to an area known for its diverse community.
1900 NE Miami CT 44
Beaker & Gray: 2637 N. Miami Avenue ¤
This is Wywood’s newest restaurants to open in 2015, a 110 seat restaurant featuring craft cocktails Restaurants Wyandn contemporarywood cuisines Ove incorporatingrview ingredients from all over the world into original creations. The concept will feature shareable, tapa-style dishes with a refined and seasonal beverage program, which will include a selection of over 300 spirits and cocktails. Beaker & Gray
2637 N. Miami Avenue
This is Wynwood’s newest restaurant to open in 2015, a 110 seat restaurant featuring craft cocktails and contemporary cuisines incorporating ingredients from all over the world into original creations.
The concept will feature shareable, tapa-styleJimmy’Z Kitchen ¤ dishes with a refined and seasonal beverage program, which will include a selection of over2700 300 N. Miami spiritsAvenue and cocktails. Jimmy'z 50-seat interior is viewable from the street through floor-to- ceiling windows designed with an urban-industrial appeal with orange walls and other bright highlights. The menu offers a large variety of Paninsi, sandwiches, large salads and Chef's Specials. Diners are required to order at the counter. SuViche ¤ SuViche ¤
2751 N Miami Ave: 2751 N Miami Ave:
Jimmy’Z Kitchen Suviche fuses Japanese and Peruvian cuisine. Suviche's vision is to focus on a light, healthy, freshSuviche meal fuses Japanese and Peruvian cuisine. Suviche's vision is to focus on a light, healthy, fresh meal 2700 N. Miami Avenue delivered promptly while very affordable. Suviche features the first Pisco bar serving up to 15 differentdelivered promptly while very affordable. Suviche features the first Pisco bar serving up to 15 different
Jimmy’Z Kitchen ¤ types of “Macerados.” The restaurant also includes Zen-like hammocksJimmy’z outside 50-seat while interior you wait is viewabletypes for your of from “Macerados the street.” through The restaurant floor-to-ceiling also includes win- Zen-like hammocks outside while you wait for your
food and drinks to be served. dows designed with an urban-industrialfood and drinks appeal to with be orangeserved. walls and other bright 2700 N. Miami Avenue highlights.
Jimmy'z 50-seat interior is viewable from the street through floor-to- The menu offers a large variety of paninis, sandwiches, large salads and Chef’s ceiling windows designed with an urban-industrial appeal with orange walls and other bright Specials. Diners are required to order at the counter.
highlights. The menu offers a large variety of Paninsi, sandwiches, large salads and Chef's Specials. Diners are required to order at the counter. SuViche 2751 N Miami Ave:
Suviche fuses Japanese and Peruvian cuisine. Su- viche’s vision is to focus on a light, healthy, fresh meal delivered promptly while very affordable. Suviche features the first Pisco bar serving up to 15 different types of “Macerados.” The restau- rant also includes Zen-like hammocks outside while you wait for your food and drinks to be served.
1900 NE Miami CT 45
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Pride & Joy BBQ
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Pride & Joy BBQ 2800 N. Miami Avenue
2800 N. Miami Avenue
The bulk of the restaurant is outside under a large wood cabana structure. The barbecue eatery is a partnership among Myron Mixon and five South Florida locals -- Mike Saladino, Chris Mayer, Paul Thielecke,The Jose bulk of the restaurant is outside under a large wood cabana structure. The barbecue eatery is a Santa, and Pablo Cardenas. Mixon, who is known as the "the winningest man of barbecue," is a three-time barbecue world champion, judge on TLC's BBQ Pitmasters, and best-selling cookbook author of Smokin' With Myronpartnership Mixon. among Myron Mixon and five South Florida locals -- Mike Saladino, Chris Mayer, Paul Thielecke, Jose
Santa, and Pablo Cardenas. Mixon, who is known as the "the winningest man of barbecue," is a three-time barbecue Restaurants Wynwood Overview world champion, judge on TLC's BBQ Pitmasters, and best-selling cookbook author of Smokin' With Myron Mixon. Bardot ¤ Pride & Joy BBQ 3456 N Miami Avenue 2800 N. Miami Avenue Bardot ¤ The bulk of the restaurant is outside under a large wood cabana structure. The barbecue eatery 2390 is a partNW -2nd Ave: Borrowing its name from former French actress Brigette Bardot who 3456 N Miami Avenue nership among Myron Mixon and five Southrepresented Florida change and liberation during the 1950’s, Bardot is an intimate live music venue locals -- Mike Saladino, Chris Mayer, Paul equippedThielecke, with state of the art video and sound systems. Home to some of the best performers in a 2390 NW 2nd Ave: Borrowing its name from formerJose FrenchSanta, actress and BrigettePablo BardotCardenas. who Mixon, who is represented change and liberation during the known1950’s, Bardot as the is “thean intimate winningest live music man venue of barbecue,”multitude is a of genres, the mantra is to “expect the unexpected” at Bardot. The programming equipped with state of the art video and soundthree-time systems. Home barbecue to some worldof the best champion, performers judge in ashowcases on TLC’s the best bands in Florida as well as top performers in every genre. multitude of genres, the mantra is to “expect theBBQ unexpected” Pitmasters, at Bardot. and best-selling The programming cookbook author of showcases the best bands in Florida as wellSmokin’ as top performers With Myron in every Mixon. genre.
Bardot 3456 N Miami Avenue Borrowing its name from former French actress Brigette Bardot who represented change and liberation during the 1950’s, Bardot is an intimate live music venue equipped
Gigiwith¤ state of the art video and sound systems. Home to some of the best performers in a multitude of genres, the 3470mantra N. Miami Avenue is to “expect the unexpected” at Bardot. The pro- Gigi grammingwas one of the pioneers showcases in the Asian fusionthe trend,best executing bands dishes in like Florida ‘shroom’ bunsas andwell chilled as sobatop noodles performers with spicy peanut in dressing every with genre. unpretentious flair. Responsible for Miami’s brussel sprouts renaissance, their version combines the leafy green with cauliflower and bacon, and seals it in sweet soy. The space’s lofty, industrial, urban-chic décor also draws a, late night crowd. Dishes are categorized into noodle bowls and rice bowls; "raw" and "grill" items; and a quartet of "basics." Gigi Joey’s Italian Café ¤ 3470 N. Miami Avenue 2506 NW 2nd Avenue Gigi was one of the pioneers in the AsianJoey’s fusion Italian trend, Café executing ¤ dishes like ‘shroom’ buns and chilled soba noodles with spicy peanut dressing with unpretentious flair. Joey's was established in 2008 and is one of the few restaurants to inhabit 2506 NW 2nd Avenue Wynwood long before the neighborhood becameResponsible a cultural mecca.for Miami’s Its owner, brussel sprouts renaissance, their version combines the leafy Joey Goldman, along with Veneto-born executivegreen chef with Ivo cauliflower Mazzon, had anda bacon, and seals it in sweet soy. The space’s lofty, industri- vision to proffer perfectly executed dishes prepared with fresh local produce al, urban-chic décor also draws a, late nightJoey's crowd. was establishedDishes are categorized in 2008 and into is noodle one of the few restaurants to inhabit at affordable prices. Its blend of healthy traditional Italian food, contemporary industrialWynwood long before the neighborhood became a cultural mecca. Its owner, interior and an al fresco garden, make Joey’s bowlsa Wynwood and ricefavorite. bowls; “raw” and “grill” items; and a quartet of “basics.” Joey Goldman, along with Veneto-born executive chef Ivo Mazzon, had a vision to proffer perfectly executed dishes prepared with fresh local produce at affordable prices. Its blend of healthy traditional Italian food, contemporary industrial interior and an al fresco garden, make Joey’s a Wynwood favorite. The Electric Pickle ¤ 1900 NE Miami CT 46 2826 N Miami Avenue
The Electric Pickle is an intimate indoor-outdoor club, 300 person capacity, with three dance floors – upstairs, downstairs and outside. Designed as a forum for creative expression and cross cultural exploration, geared towards the discerning music enthusiast. Miami’s premier boutique, entertainment and music venue is located in the heart of Midtown’s Wynwood Arts District.
Panther Coffee 2390Panther NW Coffee2nd Avenue 2390 NW 2nd Avenue Panther Coffee is a Miami-based specialty coffee roaster, retailer and wholesaler specializing in the Panther Coffee is a Miami-based specialty coffee roaster, retailer and wholesaler specializing in the Restaurants small-batch roasting of coffee beans and the preparation of coffeeWy beverages.nwood Overview Morgans small-batc Restauranth roasting of coffee beans and the preparation of coffee beverages. Morgans Restaurant 28 NE 29th Street Miami's 28Modern NE 29th Home Street-Style Comfort Food. Open for Brunch, Lunch and Dinner. Updated takes on Panther Coffee American Miami's staples Modern offered Homein an unpretentious-Style Comfort Food.old house Open with for Brunch,a covered Lunch porch. and Dinner. Updated takes on American staples offered in an unpretentious old house with a covered porch. Wynwood Kitchen & Bar: 2550 NW 2nd Avenue ¤ 2390 NW 2nd Avenue This Latin and Asian-inspired restaurant overlooks the Wynwood Walls art galleryPanther and features anCoffee outdoor patio is completea Miami-based with even more artful special - creations. The menu contains items such as pork belly, Brussels sprouts and ceviche.ty Itcoffee has earned a roaster,reputation as a retailerperfect blend ofand innovative wholesaler Latin- influencedspecializing cuisine and beautiful in art,the that small-batch has earned it a place asroasting the one of of Miami’s coolest and most visually striking restaurants. Offering a variety of flavorfulcoffee small plates, beans the menu and created the by chef preparation Miguel Aguilar gives of guests coffee the freedom to mix and matchbeverages. dishes, coordinating their meal to satisfy their personal palates. From the floor to ceiling iconic murals by Shepard Fairey in the bar area to the bursting canvasses by German artist Christian Awe in the dining room to the stunning Wynwood Walls that surround the outside patio.
Wynwood Kitchen & Bar
2550 NW 2nd Avenue CaféCaféThis Babbo Babbo Latin Miami Miamiand Asian-inspired ¤ ¤ restaurant overlooks the Wynwood Walls art gallery and features an 97outdoor NW 25th patio Street complete with even more artful creations. The menu contains items such as pork Coyo97 NW Taco 25th ¤ St reet belly,Coyo brussel Taco sprouts ¤ and ceviche. It has earned a reputation as a perfect blend of innovative Lat- 2300 NW 2nd Avenue A in-influencedlocally2300 owned NW 2ndpizzeriacuisine Ave nueand winebeautiful bar locaart, tedthat inhas the earned heart ofit thea place Wynwood as one Artof DistrictMiami’s . coolestThe Italian and most A taquerialocally owned with a pizzeria late night and lounge wine that bar locaplansted to instay the open heart until of the3:30 Wynwood a.m. Thursday Art District through. TheSundays Italian . restaurantvisually A taqueria striking owned with byrestaurants. partners a late night Antonio Offering lounge Chia a that variety and plans Alessandro of to flavorful stay openPazzaglia small until (whose plates,3:30 a.m. familythe Thursday menu has ownedcreated through the by Sundays same chef . Therestaurant restaurant owned is paintedby partners steel Antonio blue, with Chia no and decorations Alessandro on Pazzaglia the wall. (whose Outdoor family patio has seating owned isthe same restaurantMiguelThe Aguilar inrestaurant Italy givesfor over is guests painted three the decades) steel freedom blue, serve to with mixs Neapolitan noand decorations match style dishes, pizzas on coordinating the fired wall. up inOutdoor their their wood meal patio burningto seating satisfy is communal. Like most fast-casual restaurants, you place your order at the counter and your meal restaurantoven,their ascommunal. personal well in Ita asly specialty palates.for Like over most beersFrom three fast "inclthe decades)-casual udingfloor theto restaurants,serve ceilingnearlys Neapolitan -iconicimpossible you muralsplace style-to findyourby pizzas Shepard Moretti order fired atLaFairey up theRossa in counter intheir Beer."the woodbar and They area burningyour to meal is deliveredthe burstingis delivered to your canvasses totable. your by The table. German menu The artist ismenu taco Christian is-forwa taco rd,-Aweforwa although inrd, the although dining quesadillas room quesadillas to theand stunning an and organic an Wynwood organic salad salad oven,also haveas well a vintage as specialty Italian beers cappuccino "including machine the fromnearly 1961-impossible and a Fiat-to from find the Moretti same Layear, Rossa parked Beer." They are Wallsoffered.are that offered. surround the outside patio. alsooutside. have a vintage Italian cappuccino machine from 1961 and a Fiat from the same year, parked
outside. Coyo Taco 2300 NW 2nd Avenue A taqueria with a late night lounge that plans to stay open until 3:30 a.m. Thursday through Sun- days . The restaurant is painted steel blue, with no decorations on the wall. Outdoor patio seating is communal. Like most fast-casual restaurants, you place your order at the counter and your meal is delivered to your table. The menu is taco-for- ward, although quesadillas and an organic salad are offered.
1900 NE Miami CT 47 Restaurants Wynwood Overview
Joey’s Italian Café 2506 NW 2nd Avenue Joey’s was established in 2008 and is one of the few restaurants to inhabit Wynwood long before the neigh- borhood became a cultural mecca. Its owner, Joey Goldman, along with Veneto-born executive chef Ivo ------Mazzon, had a vision to proffer perfectly executed dish-
es prepared with fresh local produce at affordable pric-
es. Its blend of healthy traditional Italian food, contem-
porary industrial interior and an al fresco garden, make
Joey’s a Wynwood favorite.
R House ¤ 2727 NW Second Ave R House is a unique casual R House fine dining restaurant and lounge with an integrated gallery serving a 2727 NW Second Ave contemporary and eclectic R House is a unique casual fine dining mix of American, Mediterranean, Asian and restaurant and lounge with an integrat- Latin dishes while providing patrons the opportunity to admire and acquire art as well as enjoy DJs and live ed gallery serving a contemporary and music. eclectic mix of American, Mediterranean, Asian and Latin dishes while providing patrons the opportunity to admire and acquire art as well as enjoy DJs and live music.
------The Butcher Shop ------165 NW 23rd Street
PridePrThe ide& Joyold & Joy BBQfashioned BBQ butchery gets a hipster update with this shop/restaurant/and beer garden trifecta. Choose from a 28002hefty800 N. Miami N.selection Miami Avenue Avenueof craft beers to go with their Mongolian duck wings or their award-winning bratwurst. TheThe bulk bulk of the of the restaurant restaurant is outsideis outside under under a largea large wood wood cabana cabana structure. structure. The The barbecue barbecue eateryeatery is a partnershippartnershipThe restaurant among among Myron also Myron features Mixon Mixon and outside and five five South picnic South Florida tables Florida localsand locals a --new --MikeMike- Saladino, Saladino, Chris Chris Mayer, Mayer, PaulPaul Thielecke,Thielecke, Jose Santa,Santa,ly andadded andPablo brunchPablo Cardenas. Cardenas. menu Mixon, on Mixon, any who given who is knownis weekend. known as asthe the "the "the winningest winningest man man of of barbecue," barbecue," isis aa threethree--time barbecue worldworld champion, champion, judge judge on TLC'son TLC's BBQ BBQ Pitmasters Pitmasters, and, and best best-selling-selling cookbook cookbook author author of of Smokin' Smokin' WithWith Myron Mixon..
1900 NE Miami CT 48
Zak the Baker ¤
405 NW 26th Street
Zak the Baker's Wynwood Bakery & Café is a bakery with a seating area that is one part café, three parts commercial kitchen. In the front, diners can eat open-faced sandwiches and soups at rustic tables set up with fresh flowers.
In the back is a busy bakery, where Zak Stern and his team mix dough and form loaves to sell. Loaves are $6 each, and the day's offerings include sourdough, Jewish rye, a plum fennel and rye, and country wheat.
Restaurants Wynwood Overview
Café Babbo Miami 97 NW 25th Street A locally owned pizzeria and wine bar located in the heart of the Wynwood Art District. The Italian restaurant owned by partners Antonio Chia and Alessandro Pazzaglia (whose family has owned the same restaurant in Italy for over three decades) serves Nea- politan style pizzas fired up in their wood burning oven, as well as specialty beers “including the nearly-impossible-to find Moretti La Rossa Beer.” They also have a vintage Italian cappuccino machine from 1961 and a Fiat from the same year, parked outside.
Morgans Restaurant Shikany Morgans Restaurant 28 NE 29th Street 251 NW 25th Street 28 NE 29th Street Miami's Modern Home-HStyleoused Comfort in a completely Food. Open renovated for Brunch, 4,000 Lunch sq. and foot Dinner. ware- Updated takes on Miami's Modern Home-Style Comfort Food. Open for Brunch, Lunch and Dinner. Updated takes on American staples offeredhouse, in an unpretentiousthe visually stunning old house restaurant with a coveredoffers global porch. cui - American staples offered in an unpretentioussine with modern old house techniques, with a covered including porch. foams, dehy- drated foods, and vanilla cotton candy. A few simple but elegant chandeliers hang from the ceiling. One wall is decorated with a diamond-shaped architectural effect. An open, marble-topped kitchen counter at the back of the restaurant matches the bar at the front. The space is rem- iniscent of an art gallery.
Za k the Baker
405 NW 26th Street Jugofresh ¤ Zak222 NW 26ththe Street Baker’s Wynwood Bakery & Café is a bakery with a Minimalist branch of a juice bar chain known for inventive combos of organic fruit, veggies & herbs. seating area that is one part café, three parts commercial kitchen. In the front, diners can eat open-faced sandwiches and soups at rustic tables set up with fresh flowers.
In the back is a busy bakery, where Zak Stern and his team Coyo Taco ¤ mix dough and form loaves to sell. Loaves are $6 each, and the day’s offerings include sourdough, Jewish rye, a plumCoyo Taco2300 ¤ NW 2nd Avenue A taqueria with a late night lounge that plans to stay open until 3:30 a.m. Thursday through Sundays . fennel and rye, and country wheat. 2300 NW 2nd Avenue A taqueriaThe with restaurant a late night is loungepainted that steel plans blue, to with stay noopen decorations until 3:30 a.m.on the Thursday wall. Outdoor through patio Sundays seating . is communal. Like most fast-casual restaurants, you place your order at the counter and your meal The restaurant is painted steel blue, with no decorations on1900 the wall.NE Mia Outdoormi CT patio49 seating is communal.is deliveredLike most to fast your-casual table. restaurants,The menu is youtaco place-forwa yourrd, although order at quesadillas the counter and and an your organic meal salad are offered. is delivered to your table. The menu is taco-forward, although quesadillas and an organic salad
are offered. Shikany ¤ Shikany ¤ 251 NW 25th Street 251 NW 25th Street
Housed in a completely renovated 4,000 sq. foot warehouse, the visually stunning restaurant offers Housed inglobal a completely cuisine with renovated modern techniques,4,000 sq. foot including warehouse, foams, the dehydrated visually stunningfoods, and restaurant vanilla cotton offers candy. A global cuisinefew simple with modernbut elegant techniques, chandeliers including hang from foams, the ceiling. dehydrated One wall foods, is decorated and vanilla with cotton a diamond candy.-shaped A few simplearchitectural but elegant effect. chandeliers An open, hang marble from-topped the ceiling. kitchen One counter wall atis thedecorated back of withthe restaurant a diamond matches-shaped the architecturalbar at effect. the front. An open,The space marble is reminiscent-topped kitchen of an artcounter gallery. at the back of the restaurant matches the bar at the front. The space is reminiscent of an art gallery.
Jugofresh ¤ 222 NW 26th Street Minimalist branch of a juice bar chain known for inventive combos of organic fruit, veggies & herbs.
Restaurants Wynwood Overview
Jugofresh 222 NW 26th Street
Minimalist branch of a juice bar chain known for inventive combos of or- ganicMorgans fruit, veggiesRestaurant & herbs. 28Morgans NE 29th Restaurant Street Miami's 28 NE Modern29th Street Home -Style Comfort Food. Open for Brunch, Lunch and Dinner. Updated takes on American Miami's staples Modern offered Home- Stylein an Comfort unpretentious Food. Open old house for Brunch, with aLunch covered and Dinner.porch. Updated takes on American staples offered in an unpretentious old house with a covered porch.
Morgans Restaurant
28 NE 29th Street Panther Coffee Miami’s Modern Home-Style Comfort Panther Coffee 2390 NW 2nd Avenue 2390 NW 2nd Avenue Food. Open for Brunch, Lunch and Din- ner. Updated takes on American staples Panther Coffeeoffered is a Miamiin an unpretentious-based specialty old coffee house roaster, retailer and wholesaler specializing in the Panther Coffee is a Miami-based specialty coffee roaster, retailer and wholesaler specializing in the small-batch roastingwith a covered of coffee porch. beans and the preparation of coffee beverages. small-batch roasting of coffee beans and the preparation of coffee beverages.
CoyoCoyo Taco Taco ¤ ¤ 23002300 NW NW 2nd 2nd Ave Avenuenue A taqueriaA taqueria with with a alate late night night lounge lounge thatthat plans toto staystay open open until until 3:30 3:30 a.m. a.m. Thursday Thursday through through Sundays Sundays . . TheThe restaurant restaurant is is painted painted steel steel blue,blue, with nono decorationsdecorations on on the the wall. wall. Outdoor Outdoor patio patio seating seating is is communal. Like most fast-casual restaurants, you place your order at the counter and your meal communal. Like most fast-casual restaurants, you place your order at the counter and your meal is delivered to your table. The menu is taco-forward, although quesadillas and an organic salad is deliveredare offered. to your table. The menu is taco-forward, although quesadillas and an organic salad are offered.
1900 NE Miami CT 50 Café Babbo Miami ¤ 97 NW 25th Street Café Babbo Miami ¤ 97 NW 25th Street A locally owned pizzeria and wine bar located in the heart of the Wynwood Art District. The Italian restaurant owned by partners Antonio Chia and Alessandro Pazzaglia (whose family has owned the same A locally owned pizzeria and wine bar located in the heart of the Wynwood Art District. The Italian restaurant in Italy for over three decades) serves Neapolitan style pizzas fired up in their wood burning restaurant owned by partners Antonio Chia and Alessandro Pazzaglia (whose family has owned the sameoven, as well as specialty beers "including the nearly-impossible-to find Moretti La Rossa Beer." They restaurant in Italy for over three decades) serves Neapolitan style pizzas fired up in their wood burningalso have a vintage Italian cappuccino machine from 1961 and a Fiat from the same year, parked oven, as well as specialty beers "including the nearly-impossible-to find Moretti La Rossa Beer." They outside. also have a vintage Italian cappuccino machine from 1961 and a Fiat from the same year, parked outside.
space trees are draped with lights and hammocks strung between the trees, with DJ music. Bars & Lounges Wynwood Overview
space trees are draped with lights and hammocks strung between the trees, with DJ music. Cafeina Wynwood Brewing Company ¤ 297 NW 23rd Street 565 NW 24th Street Cafeina is a joint lounge, gallery, tapas-style restaurant and Wynwoodevent space. Brewing The Company culinary is Miami’s creations, first craft designed production by brewery Chef in Diego the heart of the Wynwood Art District, featuring a tap room. They are family owned and operated Pasqualicchio, feature New American and Latin infused cui- withsine. the The simple backyard objective of space offering treesfresh, delicious,are draped and creative with beerslights. Theand project operatehammocks a 15-barr strungel brewhouse between and thedistribute trees, blond with ale D, IPAJ music., Gold Award-winning Porter, barrel aged Strong Ales and seasonal offerings.
Wynwood Brewing Company ¤
565 NW 24th Street Wynwood Brewing Company 565 NW 24th Street Wynwood Brewing Company is Miami’s first craft production brewery in the heart of Wynwood Brewing Company is Miami’s first the Wynwood Art District, featuring a tap room. They are family owned and operated craft production brewery in the heart of the
Retail: Wynwood Art District, featuring a tap room. with the simple objective of offering fresh, delicious, and creative beers. The project They are family owned and operated with the Retail: While Wynwood is a great place tosimple scope objectiveout the international of offering street fresh, art scene delicious, and enjoy and a operate a 15-barrel brewhouse and distribute blond ale, IPA, Gold Award-winning delicious meal surrounded by greatcreative works of beers. art, it’s Thealso aproject great place operates to find uniquea 15-barrel shopping Porter, barrel aged Strong Ales and seasonal offerings. While andWynwood special goods is ato great take back place homebrewhouse to wi scopeth you. out and the distributes international blond streetale, IPA, art G sceneold and enjoy a Award-winning Porter, barrel aged Strong Ales deliciousThe mealstores insurrounded Wynwood are by mostly greatand small worksseasonal boutiques of offerings.art, and it’sconcept also stores a great specializing place into design find andunique shopping and speciallifestyle goods goods. toHunt take through back an homeassortment with of Europeanyou. linens and tableware, peruse one local artist’s living home décor, upgrade your home with high-end Italian furnishings and trigger your imagination with funky design goods. Wynwood is an artist’s enclave with more than 70 BarsGramps Bar The storesgalleries in housingWynwood pieces are by local mostly and international small boutiques artists of andall kinds concept – don’t storesforget that specializing it’s all on in design and 176 NW 24th Street lifestylesale. goods. Look at Hunt a piece through of art everyday an assortment in your home of that European will remind linens you of yourand sunny tableware, day spent peruse one local shopping and gallery hopping in Wynwood. GrampsGramps Bar is ¤ a bar that also features live music, stand-up come- artist’s living home décor, upgrade your home with high-end Italian furnishings and trigger your nd dy, djs, andth cultural events. The set up is somewhat reminis- imagination with funky design goods. Wynwood is an artist’s enclave with more than 70 176 NW 24 Street Wynwood’s main street is NW 2 Avenue and many of the area’s most popular store line the cent of an abandoned warehouse, due to the graffiti found galleriesstreet. housing Venture piecesinto some by of local the offshoot and internationalstreets and find more artists shopping of all opportunities kinds – don’t and wallet forget that it’s all on Grampseverywhere is a bar across that also the features room, live neon music, purple stand-up and comedy, pink djs, lights, and cultural sale.events. LooktempingThe set at offers.a piece of art everyday in your home that will remind you of your sunny day spent upopen is somewhat space and reminiscent grungy of woodwork. an abandoned There warehouse, is an outside due to the space graffiti foundshopping everywhere and gallery hopping in Wynwood. acrossfeaturing the room, a makeshift neon purple beach/backyard and pink lights, partyopen space with andmulticolored grungy woodwork. There is an outside space featuring a makeshift beach/backyard party with multicolored painted tables, painted tables, multicolored lights wrapped around beach nd multicolored lights wrapped around beach umbrellas,sand surrounding wooden bleachers,Wynwood’s main street is NW 2 Avenue and many of the area’s most popular store line the umbrellas, sand surrounding wooden bleachers, wooden ta- wooden tables and benches, and a stage for live acts. street. Venture into some of the offshoot streets and find more shopping opportunities and wallet bles and benches, and a stage for live acts. temping offers.
1900 NE Miami CT 51
Wood Tavern ¤
2531 NW 2nd Ave Wood Tavern, a hangout replete with plenty of attitude and graffiti art. Guests revel over the live bands that play and the inexpensive beer that pours. Wood Tavern houses an indoor bar, a huge outdoor patio with café lights strung on the trees, a converted vintage car into a taco truck and picnic style tables around a central island bar. You’ll find people hanging out, drinking beers and listening to music at Wood at all hours.
Bars
Gramps Bar ¤
176 NW 24th Street Wood Tavern ¤ Gramps is a bar that also features live music, stand-up comedy, djs, and cultural events.2531 NW 2ndThe Ave set Wood Tavern, a hangout replete with plenty of attitude and graffiti art. Guests revel over the live bands up is somewhat reminiscent of an abandoned warehouse, due to the graffiti found thateverywhere play and the inexpensive beer that pours. Wood Tavern houses an indoor bar, a huge outdoor patio across the room, neon purple and pink lights, open space and grungy woodwork. Therewith café lights is strungan on the trees, a converted vintage car into a taco truck and picnic style tables around a central island bar. You’ll find people hanging out, drinking beers and listening to music at outside space featuring a makeshift beach/backyard party with multicolored paintedWood tables, at all hours. multicolored lights wrapped around beach umbrellas,sand surrounding wooden bleachers, wooden tables and benches, and a stage for live acts.
Bars & Lounges Wynwood Overview
Wood Tavern Brick House ¤ 2531 NW 2nd Ave Wood Tavern, a hangout replete with plenty of attitude and graffiti187 NW art.28th Guests Street revel over the live bands that Brick House ¤ play and the inexpensive beer that pours. Wood Tav- ern housesBrick House an indoor supplies bar, thea huge neighborhood 187outdoor NW 28th St reetpatio with with good quality spirits and 15 craft beers on tap that anyone café lightscan afford strung. The on thebar trees,may be a convertedWynwood'sBrick House supplies vintage latest the neighborhood car watering with good hole, quality but spirits everythingand 15 craft beers on about tap that anyonethe drinking den is can afford. The bar may be Wynwood's latest watering hole, but everything about the drinking den is into avintage, taco truck from and antique picnic Nationalstyle tablesvintage, Bohemian from around antique National beera cen Bohemian cans- tobeer the cans tobuilding the building that that it calls it home. calls Dating home. back to the Dating back to the tral island1920s, bar. the You’ll house find on 187people NW hanging 1920s,28th the Street house out, on 187 hasdrinking NW been28th Street around has been around since since the the days days of Prohibition. of Prohibition. Brick House has Brick House has an extensive collection of craft brews (35, with 11 on tap) and small-batch whiskies. beersan and extensive listening collection to music ofat Woodcraft brews at all hours.(35, with 11 on tap) and small-batch whiskies.
Brick House 187 NW 28th Street Brick House supplies the neighborhood with good quali- ty spirits and 15 craft beers on tap that anyone can afford. The bar may be Wynwood’s latest watering hole, but ev- erything about the drinking den is vintage, from antique National Bohemian beer cans to the building that it calls home. Dating back to the 1920s, the house on 187 NW 28th Street has been around since the days of Prohibition. Brick House has an extensive collection of craft brews (35, with 11 on tap) and small-batch whiskies.
The Electric Pickle 2826 N Miami Avenue The Electric Pickle is an intimate indoor-outdoor club, 300 person capacity, with three dance floors – up- stairs, downstairs and outside. Designed as a forum for creative expression and cross cultural exploration, geared towards the discerning music enthusiast. Mi- ami’s premier boutique, entertainment and music ven- ue is located in the heart of Midtown’s Wynwood Arts District.
1900 NE Miami CT 52 Cafeina
297 NW 23rd Street
Cafeina is a joint lounge, gallery, tapas-style restaurant and event space. The culinary creations, designed by Chef Diego Pasqualicchio, feature New American and Latin infused cuisine. The backyard
Cafeina
297 NW 23rd Street
Cafeina is a joint lounge, gallery, tapas-style restaurant and event space. The culinary creations, designed by Chef Diego Pasqualicchio, feature New American and Latin infused cuisine. The backyard Wynwood Culture – Attractive Draw for Prospective Tenants Wynwood Overview
Wynwood Walls The epicenter of Wynwood’s street art scene is the Wynwood Walls, located six blocks north of the Property site on NW 2nd Avenue between 25th and 26th Street. It is one of the most acclaimed street art museums in the nation including 40 mural exhibits by internationally renowned artists on walls and doors. The walls include murals by artists such as In- vader, Kenny Scharf, Shephard Fairey, Ryan McGinness, Jim Drain, Retna and dozens more.
Since first opening, the Wynwood Walls program has attract- ed over 50 artists representing 16 countries and have cov- ered over 80,000 square feet of walls. The exhibit is now a must see international destination, with media coverage that has included the New York Times, BBC News, Vanity Fair and Forbes, who mentioned them along with Wynwood on their list of America’s hippest neighborhoods. Bakehouse Art Complex Galleries The Bakehouse complex consists of working Galleries are in abundance in Wynwood, and the creative studios and exhibition galleries that are open and art world has found its way to this cutting edge district. to the public. It is also a training center for A sampling of notable galleries include Fredric Snitzer Gal- many aspiring local artists and craftsmen which lery, Pan-American Art Projects, Gallery Diet, Butter Gallery, boasts the only certified jewelry school in the Gregg Sheinbaum and David Castillo. Southeastern United States. The BAC has its • Zadok Gallery is of prominent note, and features own workrooms for sculpting, ceramics, jewelry contemporary and modern art, mostly originating in China. making, printing and film development, plus two exhibition galleries and classrooms for
• The Robert Fontaine Gallery, another distinguished workshops with visiting artists. Wynwood institution, and represents both museum-quality and cutting edge pop and contemporary art from the 1960s to the present day. Gallery Director Robert Fontaine Mana Wynwood is compelled by work that is completely original without Production Village a reference to the past. With this, the gallery provides a A six acre gated multipurpose platform for conceptual installation, urban interventionist production facility accommo- street art, and digital media, alongside pieces by the dates large scale productions masters of American Pop Art. from feature films and television shows to events and trade shows.
1900 NE Miami CT 53 Wynwood Festivals Wynwood Overview
Wynwood Vibrancy Attracts New Business Art basel Wynwood’s vibrant year-round art hotspots are intensified during Art Basel, an annual global art fair held in Miami during the first week of December. That’s when rotating satellite galleries head to the area for additional openings, parties and events. Though based in Miami Beach, it extends its influence to Wynwood. During this time, and often during the months leading up to Basel, artists come to renew their older pieces of art or create entirely new ones. The international focus and intensity of attendance has made the area a hot spot for corporate events and advertisers competing for advertising points or event space during this busy period and is an op- portunity to generate significant income from these temporary users for a site such as theP roperty with its unique Gateway location to Wynwood.
Art Wynwood Art Wynwood is held in February, and in 2015 featured 70 international galler- ies exhibiting emerging, contemporary and modern works. The fair coincides with the long holiday weekend of Presidents Day and the Miami International Boat Show. The event attracted 32,500 visitors over five days, with 7,100 col- lectors and connoisseurs attending the VIP Private Preview. The event first launched in 2012. Art Wynwood offers the art enthusiast and seasoned cultural traveler alike a unique opportunity to discover, explore and collect one of the most significant art forms of our time
Art walk On the second Saturday of every month the streets of Wynwood are packed with young and old including longtime art enthusiasts, newcomers to the scene, families and students for the Wynwood Art Walk.
The regularly scheduled monthly event attracts tourists and locals from throughout South Flor- ida to experience the galleries that have extended hours, artists painting live on the streets, food truck courts emerge, and the bar and restaurants are extraordinarily busy. The crowds are massive and the event continues to grow.
1900 NE Miami CT 54 Edgewater – 1900 NE Miami CT Links Wynwood to Edgewater Wynwood Overview
Wynwood to Edgewater Corridor
• The 1900 NE Miami CT site enjoys a prominent gateway location on the NE 20th Street corridor that links Wynwood with the Edgewater neighborhood to the east that is bound by 17th street to the south, 37th street to the north, the Florida East Coast Railroad and First Avenue to the west and Biscayne Bay to the east. The neighborhood is one of the most chic and trendy residential enclaves in Miami, due to its proximity to Wynwood, the Design District and Midtown.
• The area is a mix of historical single-family residences and high-rise residential towers coupled with an automobile and retail corridor. The south end of Edgewater abuts a recently developed vertical neighborhood that includes the Omni, also referred to as the Media and Entertainment District. Edgewater is one of Miami’s premier live-work neighborhoods in Miami.
• NE 20th Street is the street allowing railway crossing and as such is the important gateway corridor to Wynwood from Edgewater.
EDGEWATER
th St
NE 20 1900 NE Miami ct
WYNWOOD
1900 NE Miami CT 55 Wynwood’sWynwood’s NorthernNorthern NeighborNeighbor --MidtownMidtown MiamiMiami Wynwood’s Northern Neighbor -Midtown Miami WynwoodWynwood OverviewOverview MinutesMinutesMinutes fromfrom from 19001900 1900 NENE NE MiamiMiami Miami CTCT C TSiteSite Site Wynwood Overview
MidtownMidtown • Midtown Miami is minutes north of the Property directly MidtownMidtown RestaurantsRestaurants linked by N. Miami Avenue. Midtown is a large-scale, urban 100100MontaditosMontaditos ResidentialResidential BarBar LouieLouie development with high-rise residential buildings, a hotel, two 22 MidtownMidtown 339339 unit,unit, 2929 storystory condominiumscondominiums parks, and a major urban shopping area. BaruBaruUrbanoUrbano MidtownMidtown 44 394394 unit,unit, 3232 storystory highhigh--riserise apartmentapartment DailyDaily MeltMelt MidblockMidblock 172172 unit,unit, 1111 storystory LowLow--riserise condominiumcondominium • The Shops at Midtown are anchored by national tenants FiveFive GuysGuys BurgersBurgers andand FriesFries including Ross, Target, Sports Authority and Marshalls. GiraffasGiraffas MidtownMidtown 33 // HydeHyde 400400 unitunit (80(80 hotelhotel rooms)rooms) 3131--story,story, underunder constructionconstruction HurricaneHurricane GrillGrill && WingsWings MidtownMidtown 55 400400 unit,unit, 2424 storystory apartments,apartments, underunder constructionconstruction • Midtown is generally bounded by Miami Avenue on the West, ITIT EspressoEspresso LoungeLounge I-395 on north, and NE 29th Street on the south. LimeLime FreshFresh MexicanMexican GrillGrill PinkberryPinkberry RickyRicky BakeryBakery SakayaSakayaKitchenKitchen SprisSpris SubwaySubway WineWine VaultVault
WorldWorld ofof BeerBeer
RetailRetail AT&TAT&T WirelessWireless BeyaBeya Carter'sCarter's ComposeCompose DecorDecor USAUSA EverythingEverything MobileMobile FootLockerFootLocker GuessGuess FactoryFactory StoreStore HomeGoodsHomeGoods LuckyLucky CharmsCharms MarshallsMarshalls MiamiMiami TreasuresTreasures PaylessPayless ShoeSourceShoeSource RossRoss DressDress ForFor LessLess SportsSports AuthorityAuthority TargetTarget TT--MobileMobile TreasureTreasure BoutiqueBoutique
1900 NE Miami CT 56 DDesignesign DistrictDistrict –– HighHigh EndEnd LuxuryLuxury Bordering Bordering Wynwood Wynwood WynWynwoodwood O Overviewverview
The Miami Design District is a neighborhood dedicated to innovative fashion, design, architecture and The Miami Design District is a neighborhood dedicated to innovative fashion, design, architecture dining experiences. Located minutes north of the 1900 NE Miami CT site. It is roughly bound by I-195 to and dining experiences. located minutes north of the 1900 NE Miami CT site. . It is roughly bound by the south, North 43rd Street to the north, West First Avenue to the west and Biscayne Boulevard to the east. I-195 to the south, North 43rd Street to the north, West First Avenue to the west and Biscayne Boulevard A few of the high-end designers in the District include Louis Vuitton, Hermès, Berluti, Emilio Pucci, Maison to the east. A few of the high-end designers in the District include Louis Vuitton, Hermès, Berluti, Emilio Martin Margiela, Prada, Rick Owens, Celine and Cartier. Pucci, Maison Martin Margiela, Prada, Rick Owens, Celine and Cartier.
1900 NE Miami CT 57 Market overview
Economic incentives
Miami Market
Demographics
Retail Market / Office Market
Aptmar ent Market
Condo Market
1900 NE Miami CT 58 Government Economic Incentives Market Overview
The Property is located in both an “Enterprise Zone” and “Empowerment Zone” Wynwood has the distinction of being one of Miami’s most dynamic business districts, experiencing explosive growth, yet due to its gentrification emanating from its untapped potential previous to 2005, it is still “officially” designated as economically distressed. As a result, even though the neighborhood is economically vibrant and attracting investment from around the world, economic incentives exist in abundance due to its humble beginnings .
Empowerment Zone: Enterprise Zone: The purpose of the Empowerment Zone federal initiative (created in 1999 Enterprise Zone Incentives - The Enterprise Zone offers opportuni- as a Presidential initiative) is to create jobs and business opportunities ties for entrepreneurial initiatives and small business expansion in target- by offering tax credits and cash incentives in the most economically ed areas around the state. distressed areas. Jobs Tax Credit - Credit against either the Florida Corporate Income The community drives the decision-making, not government officials , with Tax or the Florida Sales & Use Tax on wages paid to new employees written “benchmarks” that determine how funds will be spent. The pro- who have been employed by the business for at least 3 months and are gram provides federal dollars, economic incentives, and other assistance. residents of a Florida Enterprise Zone. Empowerment Zone Opportunities include: Property Tax Credit - New or expanded businesses located in an Tax Exempt Bond Financing - A special tax-exempt bond, outside enterprise zone are allowed a credit on Florida corporate income tax of the state volume cap, that may provide lower than market interest rates equal to 96% of ad valorem taxes paid on the new or improved property for large-scale business expansion and job creation projects. (the assessment rate varies by county). Deductions - An IRS Section 179 Expensing increase that may provide up to $37,000 for investments in capital and equipment. Sales Tax Refund for Business Machinery and Equipment Used in an Enterprise Zone - Refund on sales taxes paid on the Qualified Zone Academy Bonds - Bonds funding a public school or purchase of certain business property. academic program. Certain lenders can receive a tax credit as an incentive to hold these bonds. Sales Tax Refund for Building Materials Used in an Enterprise Revolving Loan Fund Program - Access to capital and affordable Zone - A refund for sales taxes paid on the purchase of building materials financing to small and minority-owned businesses that do not meet used to rehabilitate real property located in an Enterprise Zone. standard credit criteria. Loans will range from $10,000 to $250,000 and must be used for general business purposes, excluding real estate. Enterprise Zone info please contact: Enterprise FLORIDA, Inc.2801 Ponce de Leon Blvd, Suite 700, Coral Gables, Work Opportunity Tax Credit - A federal tax credit with incentives FL 33134Phone: (305) 569-2650 E-mail: [email protected] of up to $2,400 for each eligible employee and up to $3,000 for each eligible summer youth employee. New markets tax credit (nmtc): For more information on the Empowerment Zone, please contact: The NMTC federal program provides private investors a tax credit equal Miami-Dade County Office of Community and Economic Development (OCED) to 39% of the total Qualified Equity Investment, with the tax credit realized 701 NW 1st Court, 14th FloorMiami, FL 33136 Office: 786.469.2100 over a seven year period.
1900 NE Miami CT 59 Miami Overview – Tenant & Resident Demand Drivers Market Overview
Miami Investment Highlights:
• While Miami has long been known as the Gateway to Latin America, the city continues to increase its reach and position as a global hub through its strong ties to Europe, Asia and the Middle East.
• Miami is one of the most entrepreneurial cities in the United States.
• A beautiful backdrop of ocean, palm trees and great weather are further complemented by an affordable cost of living and international culture.
• Miami is known as the gateway to Latin America and serves as an excellent location to service both markets.
• Miami is vibrant and brimming with inspiration and collaboration.
• Miami is a hotbed of entrepreneurial activity, with small businesses representing more than 80% of the total businesses in the district.
• With lower fixed costs than many other U.S. markets, a strong entrepreneurial community, and a global orientation, Downtown Miami provides a wealth of opportunities for business development and growth.
• Downtown Miami is booming and continuously defies national and global economic trends.
1900 NE Miami ct
WYNWOOD
395
1900 NE Miami CT 60 EmploymentEmployment Growth Growth – –Jobs Jobs Fuel Fuel Development Development Demand Demand MarkMarketet ove Overviewrview
• Florida “Top Three” growth Job Growth 2009-2014 Top 25 States Employment Growth performer during last 5 years Texas Top 20 Metros 2009- (top 25 states). California Florida (pop) 2014 • South Florida in top 5 of top 20 New York Houston 15.2% MSAs in job growth. Michigan Dallas 12.7% Ohio • Tourism spending has been North Carolina San Francisco 12.2% impressive with over $84 million Massachusetts San Diego 10.9% projected for 2014. Georgia Indiana SOUTH FLORIDA 10.3% • Retail & Trade is a major growth Colorado Tampa 9.7% sector. Washington Riverside 9.5% Pennsylvania Minneapolis 9.5% • Health Care is a major growth Illinois sector. Tennessee Seattle 9.4% Minnesota Atlanta 8.5% • Professional and support functions Utah Arizona Phoenix 8.3% are also a major growth sector. Virginia Detroit 8.3% Wisconsin • The business friendly environment, Boston 8.0% low tax rates, influence of foreign South Carolina Oregon Baltimore 7.9% investment and business, as well Oklahoma Los Angeles 7.0% as lifestyle and weather make North Dakota South Florida a perennial job Kentucky New York 6.7% Chicago 4.9% leader. 0 200 400 600 800 1,000 1,200 1,400 Washington 4.9% 16% St. Louis 3.7% Top 20 US MSAs 14% Philadelphia 2.8% 12% 10% FLORIDA
2014 Miami-Dade 10.5% 8% Broward County 9.8% 6% Palm Beach County 9.3% 4% Jacksonville 10.8% 2% Orlando 15.2%
Job Growth 2009 - 0% Tampa 9.7% Naples 16.6%
1900 NE Miami CT 61 Demographics & Drive Times Market oVERVIEW
Population
2014-2019 Area 2000 2010 2014 2019 ann. growth 1-mile 20,904 28,276 32,977 37,304 2.50% 3-mile 206,986 234,517 254,068 275,639 1.64% 5-mile 449,222 483,172 510,261 545,539 1.35% Miami-Ft. Lauderdale MSA 5,007,564 5,564,635 5,657,903 5,968,675 1.08% Florida 15,982,378 18,801,310 19,203,613 20,174,703 0.99%
Average Household Income
2014-2019 Area 2014 % over $100k 2019 % over $100k ann. growth 1-mile $51,292 12.6% $60,817 15.3% 3.47% 3-mile $46,420 11.0% $53,624 13.3% 2.93% 5-mile $51,039 12.1% $59,007 14.8% 2.94% Miami-Ft. Lauderdale MSA $68,046 18.7% $79,967 23.5% 3.28% Florida $64,456 16.5% $75,229 20.9% 3.14%
1900 NE Miami ct
1900 NE Miami CT 62 Wynwood Retail Market Market oVERVIEW
WYNWOOD RETAIL OPPORTUNITIES To Miami Beach ore 195 6th St rk 1 NE 3 • Miami is considered the third largest retail market in the US for luxury retail, NW 36th St
right after New York and Los Angeles. NW 35th St GIGI 11 HYDE NE 35th St NW 35th St MIDTOWN NW 34th Te BARDOT • Major destination retail projects have targeted Miami such as the $2 Billion THE NE 34th St NW 34th St NW 34th St Worldcenter in Downtown Miami and the $1.2 Billion City Centre project SHOPS AT NE 33rd St
NW 33rd St WYNWOOD NW 33rd St MIDTOWN NE 32nd St in Brickell. There is room for these projects, and more retail to not only PARAISO ONE PARAISO PARAISO NW 32nd St BAYVIEWS NORTH BAY TOWER
NW 32nd St Ave 2nd NE 33 ve NE 31st St A PARAISO operate but to be successful. SOUTH BAY TOWER 1st NE 30th Te NW 31st St • Miami and Los Angeles are competing for the number two retail trade NE NE 30th St NW 30th St THE ELECTRIC BISCAYNE PICKLE COMPANY BEACH
N N MIAMI AVE MORGANS NE 29th St
NW 2nd Ave 2nd NW NW 6th Ave 6th NW
market, after New York. Ave 3rd NW
NW 5th Ave 5th NW RESTAURANT NE 29th St NW 29th St 15 WYNWOOD O CINEMA ICON BAY MUSEO VAULT THE WYNWOOD GATEWAY COMPLEX WYNWOOD NE 28th St NE 27th Te • Demand is high for retail due to the domestic demographics combined with BUILDING BRICK HOUSE PRIDE AND JOY BBQ THE CRIMSON 9 14 NE 27th St ION EAST NW 28th St R HOUSE JIMMY’Z KITCHEN SUVICHE BAY 24 31 WYNWOOD WYNWOOD HOUSE the intensity of international visitors contributing to the economy. 17 BEAKER & GRAY NE 26th Te 22 NW 27th St 7 28 WYNWOOD BLOCK CYNERGI LOFTS 95 NW 27th St WYNWOOD HOUSE NE 26th St WYNWOOD 6 WOOD TAVERN NW 26th St ZAK THE BAKER 13 KITCHEN & BAR • Arts, shopping, high rise living, culture and weather make Miami one of the THE GREENSPACE SHIKANY 27 WYNWOOD WALLS CAFE BABBO NW 26th St MIAMI LAB 4 20 32 NW 25th St NE 25th St MIAMI EDGEWATER key luxury retail markets in the country and fuels shopper demand that in WYNWOOD JOEY’S ITALIAN 21 2 TERMINAL LOFT 23 NE 24th St BREWING WYNWOOD CENTRAL COYO BUILDING COMPANY NW 24th St GRAFFE CAFE NE 24th St PANTHER COFFEE TACO 8 2300 NW 2ND AVE 18 3 WYNWOOD turn drives retailers to the market. CAFEINA 26 25 GRAMPS ARCADE NW 23rd St 10 16 23 BISCAYNE BAY 250 WYNWOOD 12 19 NW 23rd St St NE 23rd St WYNWOOD LOFTS 11 NW 23rd NE 22nd Te MIAMI RUM CLUB • The Wynwood area has seen luxury retailers co-locate in the adjacent Design MANA WYNWOOD 30 SKYVIEW NW 22nd St PRODUCTION VILLAGE THE BUTCHER NE 22nd St SHOP BEER District, and strong national brands open in the Midtown component of NW 22nd St GARDEN & GRILL Ave 2nd NE Wynwood. NE 21st St 5 KUSH BOULEVARD BISCAYNE
NE 20th St
• Wynwood is at the midpoint of all this activity, with the Property ideally Pl 5th NW
N MIAMIN AVE
NW NW MiamiCt
NW NW 1st Ave
NW 2nd Ave 2nd NW NE 19th Te NW NW 1st Ct NW 20th St NW 1st Pl situated at the Gateway to the expanding Wynwood retail market. ARTS & ENTERTAINMENT NE Miami Ct NE 19th St NW 19th St Biscayne
DISTRICT Park NW Ct4th NW NW 19th St ARIA ON THE BAY 1900 NE Miami ct BAY PARC PLAZA NW 18th St OPERA TOWER
NW 2nd NW Ct NE 17th Te Williams PARK LOFTS Park NW 17th St NE 17th St Wynwood Retail THE CANVAS LEGEND FILLING CONDOS Town STATION NE 16th St • The Wynwood market is attracting trendy restaurants, high end retailers, Park NW 16th St VENETIAN CSWY culturalAve 3rd NW cENTERS NE 15th St bars, galleries, and a wide variety of retail shops. NW 15th St I NE 14th T r MELODYMELODY • An Example of international retailers in Wynwood is the Italian expensive rESTAURANTS & bARS NE 14th St NW 14th St To Miami Beach motorcycle maker Ducati showroom that opened last year in Wynwood. ARSHT PLZ HERALD Athalie CENTER MACARTHUR CSWY NE 13th St WATSON ISLAND rETAIL/oFFICE Ave 2nd NE
Range #1 NW 13th St AVE MIAMI N NE 1st Ct 1st NE • Retail rents are still about a third of what they would be on Miami Beach Ave 1st NE 395 NE 12th St
than in Wynwood, and are highly attractive to retailers. RESINW 12thD StENTIAL I
NW 2nd Ave 2nd NW NW 1st Ave 1st NW
NW 1st 1stCt NW NW 1st 1stPl NW
gALLERIESNW 11th Ter NE 11th St I E I D
1900 NE Miami CT 63 Wynwood Retail Market Market overview
• The Wynwood Retail Market is expanding at a rapid rate, but is still significantly under retailed. • Opportunities to meet demand with retail space are exceptional at the Property and the market as a whole. • Rents at recent projects in Wynwood generally range from $30/SF to $55/SF NNN.
Retail Inventory 2014 2013 2013 2011 2010 2009 Retail 1,292,193 1,275,017 1,266,693 1,264,464 1,266,864 1,269,197
Retail Vacancy 2014 2013 2013 2011 2010 2009 Retail 7.9% 5.8% 8.0% 3.3% 3.9% 3.0%
Retail Absorption 2014 2013 2013 2011 2010 2009 Retail (2,782) 17,665 (1,950) (173) (1,740) 6,656 1900 NE Miami ct
Retail Deliveries 2014 2013 2013 2011 2010 2009 Retail 0 0 0 0 0 0
Retail Quoted NNN Rents 2014 2013 2013 2011 2010 2009 Retail $32.41 $30.29 $33.15 $16.01 $15.48 $17.9 0
1900 NE Miami CT 64 Wynwood Office Market Market overview
Inventory • The Wynwood Office Market attracts creative 2014 2013 2013 2011 2010 2009 businesses, technology firms, and start ups. Class A 699,000 699,000 699,000 699,000 699,000 699,000 • Office rents are more affordable than encountered in Class B 2,332,600 2,332,600 2,326,398 2,326,398 2,284,361 2,284,361 the Downtown/Brickell market that can be $10/SF to Class C 1,492,997 1,492,997 1,492,997 1,492,997 1,492,997 1,492,997 $20/SF higher. Overall 4,524,597 4,524,597 4,518,395 4,518,395 4,476,358 4,476,358 • The Property could be a prime location for technology firms or a blend of creative/business Vacancy enterprises locating in Wynwood. 2014 2013 2013 2011 2010 2009 Class A 31.0%(1) 32.3% 35.3% 37.0% 37.2% 37.5% Class B 8.1% 10.7% 11.2% 11.3% 12.9% 12.1% Class C 9.3% 5.4% 5.8% 12.5% 15.9% 14.6% Overall 12.0% 12.3% 13.1% 15.7% 17.7% 16.9% (1) Skewed by OMNI Mall 435,000 SF, a typical space, 45% vacant.
Absorption 2014 2013 2013 2011 2010 2009 Class A 0 30,000 0 0 2,000 0 Class B 3,680 5,121 (25,339) 50,828 21,528 26,275 Class C (13,053) 42,121 29,326 54,912 22,277 23,106 Overall (3,697) 44,583 29,326 54,912 9,005 23,106
Deliveries 2014 2013 2013 2011 2010 2009 1900 NE Miami ct Class A 0 0 0 0 0 0 Class B 0 0 0 0 0 0 Class C 0 0 0 0 0 0 Overall 0 0 0 0 0 0
Quoted Full Service Rents 2014 2013 2013 2011 2010 2009 Class A $33.56 $32.93 $30.19 $31.15 $31.16 $33.18 Class B $32.07 $29.71 $27.23 $24.85 $24.69 $25.43 Class C $33.39 $32.42 $24.70 $21.45 $24.87 $23.22 Overall $33.10 $31.76 $27.88 $26.40 $27.03 $27.53
1900 NE Miami CT 65 Retail & Office Projects Market Overview
WYNWOOD Retail & Office
• The Wynwood Market has experienced a retail renaissance over the last few years. • Fashion, arts, galleries, showrooms, and apparel are entrenched in the district. • The growing demand for retail, growing neighborhood, and the ability to tap into the creative community have attracted retailers to the area. • Office users are expanding into Wynwood, with a strong focus on technology, creative businesses, and start-up ventures. • The 1900 N. Miami Court site would be ideal to house an office project with ground level retail, and possibly incorporating residential on the upper levels. A full ground level retail component would also be appropriate for the Property. • The following section details a sampling of retail and office projects in the market.
Wynwood Gateway Complex 2825 NW 2 Avenue Wynwood Gateway Complex is a retail storefront with Ducati as the anchor tenant. Boxelder Beer will be the second tenant to move-in.
Phase I is complete, and Phase II of this project will in- clude a main retail space facing 29th St and three micro retail suites. Rents are at $55/SF NNN.
Wynwood Block 2621 NW 2nd Avenue
Retail Storefront Development by Brightway properties that will be 28 units each expecting to be leased from $35-$55/ SF/NNN. It is expected to open in the spring of 2015.
1900 NE Miami CT 66 Retail & Office Projects Market Overview
The Green Space 310 NW 26th Street The Green Space is designed with the thought of bringing a softer aesthetic to the neighborhood. This 10,000 square foot building will feature a living green wall as its exterior and a one of a kind art installation on the floor of the center corridor. With two retail bays at the building’s front and six to seven interior office spaces, the building will also host a tree-filled exterior courtyard. The Green Space is the ideal physical space for the creative office user that wants to call Wynwood home.
Wynwood House 335 NW 26th Street The first floor is approximately 7,000 square feet of com- mercial space, complete with 19’ ceilings which can be divided into 3-4 spaces, suitable for a restaurant and re- tail. The second floor will house an office/studio space of about 1,500 square feet. On the third floor, live/work units ranging from 900 to 1,100 square feet, offer great natural light, high ceilings and unobstructed views of downtown Miami. The units will be completely finished with full kitch- ens, baths and open space.
The Wynwood Building 2750 NW 3rd Avenue A concept sharp as its iconic black and white stripes, the WYNWOOD BUILDING brings small and mid-sized office space to Miami’s Wynwood Arts District. Formerly a retail shopping mall, with top of the line mechanical systems and a spacious, generative Common Corridor, the building’s public spaces are adorned with ex- traordinary artwork and extra lot space will fur- nish substantial parking. Rents: $36/SF NNN.
1900 NE Miami CT 67 Retail & Office Projects Market Overview
Wynwood Central 250 NW 23rd Street
Wynwood Central is a new, pedestrian-friendly mix of retail, residential, parking, office and green spaces located in the heart of Miami’s Wynwood Arts District.
Wynwood Central will provide the neighborhood with its first true community hub specifically designed to bring people together and improve the work/life experience while continuing to champion its creative spirit.
SpaceBy3 2105 N Miami Avenue
Built in 1920, SPACEBY3 is a former warehouse converted into a blank canvas venue for exclusive rental in Miami’s Wynwood Arts District.
Comprised of 34,000 square feet of contiguous, single level area, SPACEBY3 is a flexible, airy and state-of-the-art location for indoor and outdoor events (dinners & receptions, corporate & social events, car & product launches, weddings, etc.) and productions.
With a brownstone facade and 22-foot high vaulted ceilings, it offers a versatile space, dividable into three single units, a private garden and a courtyard with parking facilities.
The location is immediately north of the Property.
1900 NE Miami CT 68 RetailRetail & &Office Office Rent Rent Comparables Comparables Market Overview
COMPARACOMPARABLEBLE PROPER PROPERTIES:TIES:
nd • TheThe main main Wynwood Wynwood retail retai land and office office ccorridorsorridors aarereN N.. M Miiamiam iA Avevenue,nue thatthat tthehe Prropertyoperty ffronts,ronts a andnd NW NW 2 2nd Ave Avenue.nue • TheseThese commer commercialcial corridors corridors are are populated populated with with pure pure retail retail space space and anda mixture a mixture of hybrid of hybrid office/retail, office/retail, live and live workand space.work space. • BelowBelow are are comps comps for for a representativea representative sample sample of retailof retail and and office office properties properties throughout throughout Wynwood. Wynwood.
Retail & Office Rents in Wynwood Year Built / Occ Name / Address Type Size Rent/SF Comments Renovated %
Wynwood Gateway Complex Single-story, Multi-tenant, recently renovated, retail 2014 11,150 76% $55/SF/NNN 2825 NW 2nd Ave Ducati-anchored retail building on High Profile Corner location.
Wynwood Block The building will be sub-divided into 28 units that can be built-to-suit during the pre-construction retail 2015 28,000 95% $35-$55/SF/NNN 2621 NW 2nd Ave phase. Spaces range in price from $35-$55 sq ft,NNN, and units start at 350 SF and up. Single-story, multi-tenant, iconic black and white stripes, office building with small and midsized office retrofitted and reorganized the approximately 45,000 square foot property, formerly a retail shopping Wynwood Building office 1972 38,694 100% $36/SF/NNN mall, with top of the line mechanical systems and a spacious, generative Common Corridor. The 2750 NW 3rd Ave building's public spaces are adorned with extraordinary artwork and extra lot space will furnish substantial parking. Fully Leased Built in 1920, SPACEBY3 is a former warehouse converted into a blank canvas venue for exclusive SpaceBy3 retail 2014 34,000 100% Varies - Event Space rental in Miami's Wynwood Arts District. Comprised of 34,000 square feet of contiguous, single level 2105 N Miami Ave area used for various events.
Cynergi Lofts Situated on the first floor of a very large condominium project converted to a rental project. Street front 2700 M Miami Ave Retail 2008 4,250 32% $45/SF/NNN retail in high traffic area of Wynwood, 4,250 sq. ft. The residences are 100% leased and retail space includes a well known Wynwood favorite: Jimmy’z Kitchen.
250 Wynwood 250 Wynwood is the first new condominium development in Wynwood Arts District. It has 11 loft Retail 2015 3,761 0% $65/SF/NNN 250 NW 24th Street condos and ground floor (1,968 SF) + 2nd Floor retail (1,793).
retail / Wynwood House In Development and Preleasing, Two-Story, Multi-tenant, Retail /Office colorfully painted building. The office / 2015 9,000 0% NA 335 NW 26th St first floor is commercial space, the second floor office/studio space, third floor, live/work units. resi.
This 10,000 square foot building will feature a living green wall as its exterior and a one of a kind art The Green Space retail / 2015 9,050 0% Not revealed installation on the floor of the center corridor. With two retail bays at the building’s front and six to 310 NW 26th St office seven interior office spaces, the building will also host a tree-filled exterior courtyard.
Pride & Joy BBQ Single-story street front restaurant space with single tenant . Actual Lease was executed in 2013 retail 2013 5,000 100% $35/SF/NNN 2800 N Miami Ave for a 5-yr term.
1900 NE Miami CT 69 Retail & Office Rent Comparables Market Overview
COMPARACOMPARABLEBLE PROPER PROPERTIES:TIES: (Continued)
Retail & Office Rents in Wynwood Year Built / Occ Name / Address Type Size Rent/SF Comments Renovated % Atlas Realty Building $35/SF/NNN retail 2014 13,353 75% 1-story retail / showroom space has been recently renovated, contains on-site parking. 2315 N Miami Ave +$5/SF Opex Iconic Dorissa of Miami retail 2003 22,300 92% $42/SF/NNN Single-story, multi-tenant retail / restaurant building. 2751 N Miami Ave
In development and pre-leasing, currently a vacant site, construction is not yet started. Site is just Wynwood Arcade retail 2015 25,268 0% $50/SF/NNN West of N Miami Avenue. Multi-tenant, retail building with ground floor retail and rooftop restaurant 43-65 NW 23rd Street space
David Castillo Gallery retail 1954 4,500 0% $35/SF/NNN Single-story gallery space recently vacated and renovated. 2230 NW 2nd Ave Abingdon Square Building retail / 2014 26,280 0% $32-$39/SF/NNN Two-story, multi-tenant, newly renovated building with spaces from 680 SF available. 2200 NW 2nd Ave office Comras Building Single-story, Multi-tenant, fully-leased retail/ restaurant building with parking on NW 2nd Avenue retail 2013 12,000 100% $28/SF/NNN 2300 NW 2nd Ave recently renovated. Filling Station 1657 N Miami Ave Retail 2014 8,413 100% $25/SF/NNN 8,413 SF Retail Storefront Retail/Residential Building Built in 2014. Outside of Wynwood to the south.
Wynwood Central Wynwood Central had development plans being reworked as a new developer recently purchased Retail 2017 TBD n/a TBD 250 NW 23rd St the site.
1900 NE Miami ct
1900 NE Miami CT 70 Apartment Market Overview Market overview
Rental Market Residential Rental Pipeline • Apartment Demand is intense in the CBD. Submarket Building 2015 Q1 Status # Units • Very few options exist for renters at traditional apartment complexes. Arts & Ent. Melody Under Construction 497 • The Apartment vacancy rate for Wynwood and Edgewater is Arts & Ent. 17 Edgewater Proposed 240 very tight, at between 2.3% to 1.8%. Arts & Ent. 14 Plaza Proposed 650 • Wynwood is experiencing proposed apartment development in Brickell Solitair Brickell Proposed 438 response to the tight occupancy in the area. Brickell Panorama Under Construction 821 Brickell SoMa Under Construction 418 • Any immediate relief for Downtown Miami renters will most likely need to come from the condo rental market as conventional rental Brickell Broadstone at Brickell Proposed 372 units at the few new projects will likely be pre-leased and stabilized CBD Aria / AQARAT Proposed 105 shortly after completion. CBD Monarc at Metropolitan 3 Under Construction 462 CBD Met Square Under Construction 392 Wynwood Apartment Submarket Edgewater 2500 Biscayne Proposed 156 At A Glance Edgewater 1900 Biscayne Proposed 429 Current 5-Year Avg Edgewater 1836 Biscayne Proposed 352 Vacant Units 43 39 Midtown Midtown 5 Under Construction 400 Vacancy Rate 2.3% 2.5% Midtown Midtown 29 Proposed 309 Midtown District 36 Proposed 195 Edgewater Apartment Submarket Wynwood 2801 NW 3rd Avenue Proposed 264 At A Glance Current 5-Year Avg Wynwood Bazabaz Development Proposed 163 Vacant Units 25 25 Total # Units: 6,663 SOURCE: Integra Realty Resources / DDA Vacancy Rate 1.8% 2.1% SOURCE: CoStar
Average Condo Leasing Price in Greater Downtown Miami Studio 1 BR 2 BR 3 BR Year Overall $/Month $/SF $/Month $/SF $/Month $/SF $/Month $/SF 2012 $2,255 $1,421 $2.64 $1,804 $2.33 $2,625 $2.13 $4,343 $2.25 2013 $2,371 $1,504 $2.67 $1,926 $2.30 $2,819 $2.21 $4,427 $2.51 Q3 2014 $2,523 $1,546 $3.18 $2,054 $2.50 $2,947 $2.33 $4,715 $2.64 SOURCE:Source: Integra Integra Realty Resources/DDA Realty Resources / DDA
1900 NE Miami CT 71 Apartment Market Overview Market overview
Nearby Apartment Projects Apartment Market Overview
Melody Filling Station 22 Skyview Cynergi Lofts Opera Tower Bay Parc Plaza Address: 1657 N Miami Address: 2700 N Miami Address: 1750 N Address: 1756 N Address: 245 NE 14th ST Address: 425 NE 22 St Ave Ave Bayshore Dr Bayshore Dr Year Built: 2014 Year Built: 2015 Year Built: 2014 Year Built: 2008 Year Built: 2007 Year Built: 2000 Units: 258 Units: 497 Units: 81 Units: 100 Units: 394 Units: 471 Developer: NR Operator: Well Meaning Developer: Melo Group Developer: Melo Group Developer: Florida East Developer: Florida East Investments Property Occupancy: n/a Coast Realty Coast Realty Occupancy: 65% Occupancy: 100% Occupancy: 100% Market: Edgewater Occupancy: 100% Occupancy: 100% Market: Edgewater Market: Market: Edgewater Arts/Entertainment Stories: 32 Market: Edgewater Market: Edgewater Stories: 36 Stories: 10 Stories: 17 Unit Types: One, Two Unit Types: One, Two Unit Types: One, Two, and Three Bedrooms Stories: 55 Stories: 36 Three Bedrooms Unit Types: Lofts Bedrooms Unit Types: Studio, One Unit Types: Two and SF Range: 945-1,481 SF Range: 805-1146 / and Two Bedrooms Three Bedrooms SF Range: TBD SF Range: 832-1639 SF SF / 1,174 AVG SF 963 AVG SF / 1,248 AVG SF Developer originally SF Range: 585-1,225 SF Range: 440-1,246 Under Construction Average Rental Rate: One bedrooms asking developed as a 102-unit SF / 978 AVG SF SF / 862 AVG SF $2.31/SF $1,550 -$1,700 for condo but only sold 4 5 Units asking average of Average Rental Rate: of current availability 915 SF or $1.78/SF units before losing $3.09/SF $2.09/SF property to bank. A private investor Developer selling final 50 purchased the remaining units w/ 3-yr Lease Back units in a bulk condo 6% Option purchase and runs this as a Rental Building. Average Rental Rate: $1.92/SF
1900 NE Miami CT 72 To Miami Beach ore 195 Apartment Market Overview rk MarketNE 36th ove St rview NW 36th St
NW 35th St NE 35th St NW 35th St NW 34th Te THE NE 34th St NW 34th St Melody Built 2015 NW 34th St SHOPS AT NE 33rd St
245 NE 14th ST NW 33rd St WYNWOOD NW 33rd St MIDTOWN NE 32nd St MelodyUnit Unit Unit Unit Unit TotalBuilt Rent2015 NW 32nd St
NW 32nd St Ave 2nd NE ve NE 31st St 245 NE 14th ST A 1st NE 30th Te Type Count Mix Rent SF SF PSF NW 31st St NE NE 30th St UnitTotal Unit497 Unit 100% UnitTBD Unit TBD Total- RentTBD NW 30th St Type Count Mix Rent SF SF PSF
N N MIAMI AVE NE 29th St
NW 2nd Ave 2nd NW
NW 6th Ave 6th NW
NW 3rd Ave 3rd NW NW 5th Ave 5th NW NE 29th St Total 497 100% TBD TBD - TBD NW 29th St Filling Station Built 2014 CYNERGI LOFTS NE 28th St NE 27th Te NW 28th St NE 27th St 1657 N Miami Ave NE 26th Te NW 27th St 95 NW 27th St FillingUnit Station Unit Unit Unit Unit TotalBuilt Rent2014 NW 26th St NE 26th St
1657 N Miami Ave W 26th St Type Count Mix Rent SF SF PSF N NW 25th St NE 25th St EDGEWATER Unit Unit Unit Unit Unit Total Rent NE 24th St Lofts 81 100% $2,831 1,226 99,306 $2.31 NW 24th St NE 24th St TotalType Count81Mix 100%Rent $2,831SF 1,226 99,306 SF PSF $2.31 NW 23rd St NW 23rd St St NE 23rd St Lofts 81 100% $2,831 1,226 99,306 $2.31 NW 23rd NE 22nd Te NW 22nd St 1900 NE MiamiNE 22nd c St t Total 81 100% $2,831 1,226 99,306 $2.31 NW 22nd St Ave 2nd NE 22 SKYVIEW 22 Skyview Built 2014 NE 21st St 425 NE 22 St 22 Skyview BOULEVARD BISCAYNE
Unit Unit Unit Unit Unit TotalBuilt Rent2014 Pl 5th W NE 20th St
N
N MIAMIN AVE
NW NW MiamiCt
NW NW 1st Ave
NW 2nd Ave 2nd NW NE 19th Te NW NW 1st Ct NW 20th St NW 1st Pl 425 NEType 22 St Count Mix Rent SF SF PSF ARTS & ENTERTAINMENT NE Miami Ct NE 19th St UnitTotal Unit258 Unit 100% Unit--- Unit Total Rent$1.78 NW 19th St Biscayne DISTRICT Park BAY PARC PLAZA
Type Count Mix Rent SF SF PSF NW 19th St Ct4th NW Total 258 100% --- $1.78 NW 18th St
Cynergi Lofts Built 2008 Williams 2nd NW Ct NE 17th Te Park NW 17th St NE 17th St 2700 N Miami Ave OPERA TOWER CynergiUnitLofts Unit Unit Unit Unit TotalBuilt Rent2008 Town NE 16th St NW 16th St 2700 N Miami Ave Park Type Count Mix Rent SF SF PSF THE FILLING STATION VENETIAN CSWY NW 3rd Ave 3rd NW NE 15th St Unit Unit Unit Unit Unit Total Rent NW 15th St 1/1 98 100% $1,850 963 94,374 $1.92 I NE 14th T r
Type Count Mix Rent SF SF PSF NE 14th St MELODY
Total 98 100% $1,847 962 94,374 $1.92 Bay Parc Plaza NW 14th St Built 2000 To Miami Beach
HERALD PLZ HERALD
2nd Ave 2nd
Ct I AVE I 1/1 98 100% $1,850 963 94,374 $1.92 Ave Athalie 1756 N Bayshore Dr MACARTHUR CSWY
NE 13th St WATSON ISLAND NE NE
OperaTotal Tower98 100% $1,847 962 94,374Built $1.922007 Range #1Bay Parc PlazaNW 13th St MIAM N Built 2000
Unit Unit Unit Unit Unit 1st NE Total Rent NE 1st 1st NE 395 NE 12th St
1750 N Bayshore Dr 1756Type N BayshoreNW Count 12th St Dr Mix Rent SF SFI PSF
NW 2nd Ave 2nd NW NW 1st Ave 1st NW NW 1st 1stCt NW Opera Tower Built 2007 1stPl NW Unit Unit Unit Unit Unit Total Rent Unit0/1 Un35it Unit 7% Unit$1,322 Unit440 Total 15,400 Rent$3.00 NW 11th Ter NE 11th St I
1750 N Bayshore Dr E Type Count Mix Rent SF SF PSFI Type1/1 Count210Mix 45% Rent$1,781 SF797 167,370 SFD PSF$2.23 Unit Unit Unit Unit Unit Total Rent Total 635 100% $2,040 671 1,710,774 $3.09 0/12/2 35226 7% 48% $1,322$2,179 4401196 15,400270,296 $3.00$1.82 Type Count Mix Rent SF SF PSF 1/1Total 210471 45% 100%$1,781 $1,847797 962 167,370453,066 $2.23$2.09 Total 635 100% $2,040 671 1,710,774 $3.09 2/2 226 48% $2,179 1196 270,296 $1.82 Total 471 100% $1,847 962 453,066 $2.09
1900 NE Miami CT 73 Condo Market Overview Market Overview
Condo Market The surge in popularity of the Wynwood market has positioned the Property as prime for condo development, with new product well received and achieving impressive pricing. Boutique condo projects smaller than the 300 plus unit high rises along Biscayne Boulevard and Brickell would be ideal for the market and projects such as 250 Wynwood are experiencing sales prices for the top unit at $560 per square foot, a major breakthrough for pricing in the neighborhood.
• The Mean Miami-Dade County Price for Presold new units is $874 per square foot, involving 11,340 units, per the latest Feb 2015 report issued by Cranespotters.
• Wynwood is the perfect opportunity to offer chic, yet affordable condo units at a price point below the higher end market, yet exceeding $500 per square foot.
• The 1900 NE Miami CT site’s unique “Gateway to Wynwood” location makes it a prime condo site with substantive ground level retail uses incorporated into a proposed project. The site enjoys a high exposure location, convenience of being at the meeting point of both the Edgewater and Wynwood markets, allowing residents to walk to the amenities and nightlife associated with both trendy neighborhoods.
• Savvy developers are like minded in their belief in the neighborhood and has resulted in a surge in land pricing as this next wave of Downtown Miami is the new focus of the area.
• Although many buyers of condos in Miami are from overseas, the Wynwood area has the added benefit of appealing to both international buyers and local residents working in the area, a diversified and expanded demand base superior to the Downtown core.
• The 1900 NE Miami CT site has tremendous residential advantages, overlooking a large public park, the south is bordered by a fire station that will not block the views to the south, and has easy access at a stop light intersection.
• Foreign investment is a strong driver of Miami Condo demand, and the interest from the South American and European markets has been strong. South American buyers are particularly keen on investing in Miami real estate as a hedge against their own economies that tend to experience significant fluctuations due to political turbulence.
• The Downtown Miami market is beginning to realize early traction with Asian buyers. The “Capital at Brickell” site was recently acquired by a Chinese investment group and several developers report increased traffic from interested Chinese investors.
1900 NE Miami CT 74 Condos Average Selling Price Market Overview
Currently Selling Projects February 2015 Submarket Name/Location # Units Avg Price Avg SF Avg $/SF A & E Canvas 513 $375,480 894 $420 A & E 1000 Museum 83 $7,005,700 5,389 $1,300 Brickell Brickell Ten 155 $410,550 1,050 $391 Brickell Echo Brickell 180 $1,935,000 1,548 $1,250 EDGEWATER Brickell Edge on Brickell 130 $1,076,900 1,958 $550 Brickell Flatiron 549 $861,520 1,210 $712 Brickell 1010 Brickell 387 $648,450 1,179 $550 Brickell Brickell Heights - East 358 $619,850 1,078 $575 Brickell Brickell Heights - West 332 $522,050 985 $530 Brickell Le Parc 128 $518,076 1,066 $486 Brickell SLS Lux 450 $830,949 1,292 $643 Brickell Reach 390 $869,569 1,352 $643 Brickell Rise 383 $842,288 1,420 $593 th St Brickell Nine at Mary Brickell 369 $589,996 1,219 $484 1900 NE Miami ct NE 20 Brickell SLS Brickell 450 $687,960 1,176 $585 Brickell The Bond 320 $571,012 1,027 $556 Brickell Cassa Brickell 81 $561,800 1,060 $530 CBD Centro 352 $308,617 703 $439 CBD Paramount (World Center) 472 $1,165,450 1,793 $650 CBD Krystal 153 $499,950 1,111 $450 BISCAYNE PARK Edgewater Aria on the Bay 647 $720,384 1,344 $536 CITY OWNED Edgewater Biscayne Beach 399 $833,952 1,428 $584 Edgewater Paraiso Bay Tower I 325 $782,000 1,360 $575 Edgewater One Paraiso 276 $1,184,400 1,680 $705 FIRE STATION Edgewater Paraiso Bayviews 388 $551,200 1,040 $530 CEMETERY Edgewater Bay House 164 $659,020 1,660 $397 Edgewater Icon Bay 300 $651,222 1,287 $506 Edgewater The Crimson 90 $622,935 1,143 $545 Edgewater Ion East Edgewater 330 $565,400 1,100 $514 Edgewater 26 Edgewater 86 $316,910 670 $473 Midtown Hyde Midtown 397 $519,180 1,018 $510 Wynwood 250 Wynwood 11 $653,805 1,503 $435 Total/Average: 9,648 $697,303 1,279 $563 SOURCE: Integra Realty Resources / DDA
1900 NE Miami CT 75 Condos Projects Market Overview Condo Projects Condo Projects CondoCondoCondo Projects Projects Projects Condo Comparables Condo Projects To Miami Beach ore 195 • The Following Condo Projects are demonstrating strong demand for rk NE 36th St NW 36th St residential uses in Wynwood and Edgewater.
NW 35th St NE 35th St • Condo Pricing of $500/SF or greater is proven for Wynwood. NW 35th St HYDE MIDTOWN NW 34th Te ONE PARAISO • The Following Condo Projects are demonstrating THE NE 34th St • The Following Condo Projects are demonstrating NW 34th St PARAISO BAY •••strongTheTheThe Following Following Following demand Condo Condo Condo for residentialProjects Projects Projects are are are demonstratinguses demonstrating demonstrating in Wynwood NW 34th St strongThe demand Following for Condo residential Projects uses are indemonstrating Wynwood SHOPS AT NE 33rd St NORTH •strongstrongstrong demand demand demand for for for residential residential residential uses uses uses in in inWynwood Wynwood Wynwood and Edgewater. NW 33rd St WYNWOOD NW 33rd St andstrong Edgewater. demand for residential uses in Wynwood MIDTOWN NE 32nd St andandand Edgewater. Edgewater. Edgewater. NW 32nd St • Condoand Edgewater. Pricing of $500/SF or greater is
NW 32nd St Ave 2nd NE ve NE 31st St Condo Pricing of $500/SF or greater is A • CondoCondo Pricing Pricing of of $500/SF $500/SF or or greater greater is is •••demonstratedCondo Pricing forof $500/SF Wynwood or greater. is 1st PARAISO BAYVIEWS NE 30th Te Condo Pricing of $500/SF or greater is NW 31st St demonstrated•demonstrateddemonstrateddemonstrated forfor for for Wynwood Wynwood Wynwood. . . NE NE 30th St demonstrated for Wynwood. BISCAYNE BEACH NW 30th St
N N MIAMI AVE NE 29th St THE CRIMSON
NW 2nd Ave 2nd NW
NW 6th Ave 6th NW
NW 3rd Ave 3rd NW NW 5th Ave 5th NW NE 29th St NW 29th St ICON BAY NE 28th St NE 27th Te NW 28th St NE 27th St NE 26th Te NW 27th St ION EAST 95 NW 27th St NW 26th St NE 26th St BAY HOUSE
NW 26th St NW 25th St NE 25th St EDGEWATER LargerLargerLarger font font font for for for NE 24th St WYNWOOD CENTRAL NW 24th St LargerLarger font Largerfont for for font forNE 24th St 23 BISCAYNE BAY 250 WYNWOOD NW 23rd St condoscondoscondos – – – NW 23rd St CanvasCanvasCanvas Condos Condos Condos 250250250WynwoodWynwoodWynwood WynwoodWynwoodWynwoodCentralCentralCentral condoscondos condos– – NW 23rd St – NE 23rd St NE 22nd Te CanvasCanvas Condos Condos ststst 250 250WynwoodWynwood ththth WynwoodWynwoodWynwoodCentralCentralCentralththth WYNWOODEdgewater LOFTS is CanvasAddress:Address:Address: Condos 1630 1630 1630 NE NE NE 1 1 1AveAveAve 250Address:Address:Address:Wynwood 250 250 250 NW NW NW 24 24 24StStSt Address:Address:Address: 220 220 220 NW NW NW 24 24 24STSTST NW 22nd St EdgewaterEdgewater is is NE 22nd St th th st st th th th NW 22nd St Edgewater is Ave 2nd NE Address: 1630 NEst 1 Ave Address:Address: 250 250 NW NW 24 24Stth St Address:Address: 220 220 NW NW 24 24 ST EdgewaterEdgewater is is Address:Address:YearYearYear 1630Built:1630 Built: Built: NE 2017NE 2017 2017 1 1 AveAve Address:YearYearYear Built: Built: Built: 250 2015 2015 2015 NW UC UC UC 24 St YearYearYearAddress: Built: Built: Built: TBD TBD TBD 220 NW 24 ST oneoneone1900 word. word. word. NE M iami NE 21st c Stt Year Built: TBD Year Built: 2017 YearUnits:Units:Year Built: 11 11Built: 2015 2015 UC UC Units:YearUnits:Units: TBDBuilt: TBD TBD TBD one word. YearYear Units: Built:Built:Units:Units: 513 2017 5132017 513 YearUnits: Built: 11 2015 UC Year Built: TBD one word. BOULEVARD BISCAYNE Units: 11 Units: TBD one word. Units: 513 Units:Developer:Developer:Developer: 11 Fortis Fortis Fortis Developer:Units:Developer:Developer: TBD East East East End End End Capital Capital Capital
NE 20th St Units: 513 Units: 11 Units: TBD
NW 5th Pl 5th NW
N MIAMIN AVE NW NW MiamiCt
NW NW 1st Ave Developer:Developer: NR NR Investments Investments
NW 2nd Ave 2nd NW NE 19th Te NW NW 1st Ct Developer: NR Investments NW NW 1st Pl Units: 513 Developer: Fortis Developer: East End Capital NW 20th St Developer:PercentagePercentagePercentage Fortis Sold: Sold: Sold: 90% 90% 90% Developer: NR Investments Developer: Fortis PercentageDeveloper:PercentagePercentageDeveloper: Sold: Sold:East Sold: East n/a Endn/a n/a End Capital Capital NE Miami Ct NE 19th St Developer:NotNotNot yet yet yetNR broken broken broken Investmentsgroundgroundground Percentage Sold: 90% ARTS & ENTERTAINMENT Developer: NR Investments PercentageMarket:Market:Market: Wynwood Wynwood WynwoodSold: 90% Percentage Sold: n/a NW 19th St Biscayne ARIA ON THE BAY Not yet broken ground Percentage Sold: 90% Market:PercentageMarket:Market: Wynwood Wynwood Wynwood Sold: n/a DISTRICT Park Market: Wynwood Percentage Sold: n/a
NW Ct4th NW Not yetMarket:Market: Market:broken Arts Arts Artsground & & Ent& Ent Ent Market: Wynwood NW 19th St Not yet broken ground Market:Stories:Stories:Stories: Wynwood 3 3 3 Stories:Stories: TBD TBD Market: Arts & Ent Market:Stories: Wynwood TBD NW 18th St PARK LOFTS Market:UnitUnitStories: Types: Types: Wynwood 3Studio, Studio, Two Two Market: Wynwood Market:Stories:Stories:Stories: Arts 27& 27 27Ent Unit Types: Studio, Two UnitUnitUnitStories: Types: Types: Types: TBD TBD TBD Williams 2nd NW Ct NE 17th Te Market: Arts & Ent Stories:BedroomsBedroomsBedroomsUnit Types:3 Studio, Two Stories: TBD Park NE 17th St UnitUnitStories:Unit Types: Types: Types: 27 Studios, Studios, Studios, One, One, One, Stories: 3 Unit Types: TBD NW 17th St SFSFSFBedrooms Range: Range: Range: 767 767 767- -2922-29222922 SF SF SF / / / SFSFSF Range: Stories:Range: Range: TBD TBD TBDTBD Stories:TwoTwo 27 Bedrooms Bedrooms Unit Types: Studio, Two CANVAS CONDOS OPERA TOWER UnitTwo Types:Bedrooms Studios, One, Unit1503 Types: / AVG Studio,SF Two UnitSF Types:Range: TBDTBD Stories: 27 Bedrooms15031503SF /Range: AVG / AVG SF 767 SF - 2922 SF / DevelopmentDevelopmentDevelopmentUnit Types: Plans Plans PlansTBD are are are Town NE 16th St Unit Types:SFSFTwoSF Range: Range: Range: BedroomsStudios, 620 620 620- -1,110 One,-1,1101,110 SF SF SF / / / BedroomsAverage Sale Price: Park NW 16th St SFAverage Range:Average1503 / AVG Sale767 Sale -Price:SF2922 Price: SF / beingSFbeing Range: reworked reworked TBD since since a a Unit 894Types:894SF894 / /Range:AVG AVG/ AVGStudios, SF SF SF620- One,1,110 SF / beingDevelopmentSF Range: reworked TBD Plans since are a Two BedroomsVENETIAN CSWY SF$$653,805$653,805Average Range:653,805 / /$435 Sale/$435767 $435 -Price: 2922 SF / NW 3rd Ave 3rd NW 1503 / AVG SF newnewnewbeing developer developer developer reworked bought bought bought since a NE 15th St Two AverageBedroomsAverage894Average / AVG Sale Sale Sale SF Price: Price: Price: Development Plans are NW 15th St SF Range: 620- 1,110 SF / AskingAskingAsking$653,805 450/ 450/ 450/ /SF $435SF SF on on on last last last property I NE 14th T r Average1503 / AVG Sale SFPrice: propertypropertynew developer bought SF Range:$375,480$375,480Average$375,480 620 / /$420Sale -/$420 $4201,110 Price: SF / unit.unit. Penthouse Penthouse sold sold for for beingDevelopment reworked since Plans a are 894 / AVG SF Averageunit.Asking Penthouse Sale450/ SFPrice: on sold last for property NE 14th St AskingAskingAsking average average average $475 $475 $475/ /SF SF/ SF $653,805 / $435 being reworked since a NW 14th St 894 / AVG$375,480 SF / $420 $560/SF$560/SF$560/SFunit. Penthouse sold for new developer bought Average SaleTo Miami Price: Beach Asking$653,805 450/ / SF$435 on last HERALD PLZ HERALD Asking average $475/ SF $560/SF propertynew developer bought Athalie $375,480AverageMACARTHUR /Sale $420 Price:CSWY NE 13th St WATSONunit. ISLANDAsking Penthouse 450/ SF soldon last for
NE 2nd Ave 2nd NE property
Range #1 NW 13th St AVE MIAMI N Asking$375,480 average / $420 $475 / SF $560/SFunit. Penthouse sold for
NE 1st Ct 1st NE NE 1st Ave 1st NE 395 NE 12th St Asking average $475/ SF $560/SF
NW 12th St I
NW 2nd Ave 2nd NW NW 1st Ave 1st NW NW 1st 1stCt NW NW 1st 1stPl NW 1900 NE Miami CT 76
NW 11th Ter NE 11th St I E I D Condos Projects Market Overview CondoCondoCondoCondo Projects Projects ProjectsProjects CondoCondoCondoCondoCondo Projects Projects Projects Projects Projects
HydeHydeHydeHydeHydeHyde Midtown MidtownMidtownMidtown Hyde MidtownMidtown MidtownHyde Midtown Midtown IconIconIconIconIconIconIcon Bay Bay BayBayIcon BayBayIcon Bay Bay ParaisoParaisoParaisoParaisoParaisoParaisoParaisoBayParaisoBayBayBayBay NorthBay North NorthBay North NorthBay North North North OneOneOneOne OneParaiso OneParaisoOne Paraiso Paraiso ParaisoParaisoOne ParaisoParaiso Paraiso ParaisoParaisoParaisoParaisoParaisoParaisoParaisoBayviewsParaisoParaisoBayviewsBayviewsBayviewsBayviewsBayviewsBayviewsBayviewsBayviews thth th Address: 3401 NE 1st Ave st ststststst stst st th th ththth ththth th Address: 220 NWth th 24th ththSTthth Address:Address:Address:Address:Address:Address:Address: 34013401 Address: 3401 34013401 3401 NE NE 3401NE 1stNE 34011st 1st AveNE1st Ave Ave AveNE 1stAve 1st Ave AveAddress:Address:Address:Address:Address:Address:Address:Address: 428 Address:428 428428 428 428NE NE NENE 428 28thNE 28th 28th42828th NE28th ST ST NE ST28thST STST 28th ST STAddress:Address:Address:Address:Address:Address:Address: 501Address: 501 501 501 501NE 501 NENE 501 NE31NE NE3150131 31NE31St 31StNE St31StSt 31StSt StAddress:Address:Address:Address:Address:Address:Address: 3131Address: 3131 3131 3131 31313131 NE 3131NE 7NE 3131NENE 7Ave NE7NE 7Ave7 NE Ave 77AveAve 7AveAveAveAddress:Address:Address:Address:Address:Address: Address:220Address: 220 220 NW220 220NW 220 NW24 NW220 220 24NW NW 24ST 24NW NW ST24 24ST ST 2424STSTST YearYearYearYearYear Built: Built:Built: Built: Built:Year Built: Year 2017 2017 2017Built:2017 2017 Built: 2017 2017 YearYearYearYear Built:Year Built:Year YearBuilt: Built:Year Built:TBD Built: TBD Built: TBDBuilt: TBD TBD TBD TBD TBD YearYear Built: Built: 2017 2017 YearYearYearYearYearYearYear Built: Built: Built:Built:Year Built:Built:Year 2015 2015Built: 20152015 2015Built: 2015 2015 YearYearYearYearYear YearBuilt: Built:Year Built: Built:Built: Year Built:2017 Built:2017 20172017 Built: 2017 2017 2017 YearYearYearYearYear Built: YearBuilt:Year Built: Built: Built:Built:Year 2016 Built:Built:2016 20162016 2016Built:2016 2016 2016 YearYear Built: Built: TBD TBD Units:Units:Units:Units:Units:Units: 397 397 397397 Units:397 397 397Units: 397 397 Units:Units:Units:Units:Units: Units:388Units: 388Units: 388Units: 388 388388 388 388 388 Units: 397 Units:Units:Units:Units:Units:Units:Units: 300 300 Units: 300300 300300Units: 300 300 Units:Units:Units:Units:Units:Units: 368Units: 368 368 368368Units: 368 368 368 Units:Units:Units:Units:Units: 276Units:Units: 276 276 276Units: 276276 276 276 Units: 388 Developer:Developer:Developer:Developer:Developer:Developer:Developer:Developer: Related RelatedRelated RelatedRelated Related Related / //Dezer Related/DezerDezer Dezer/ Dezer / Dezer / Dezer Developer:Developer:Developer:Developer:Developer:Developer:Developer: East East East EastEnd East EndEast End CapitalEndEast End Capital End Capital Capital EndCapital Capital Capital Developer:Developer:Developer:Developer:Developer:Developer:Developer:Developer:Developer: Related Related RelatedRelated Related Related Related Developer:Developer:Developer:Developer:Developer:Developer:Developer:Developer: Related Related RelatedRelated Related Related Related Developer:Developer:Developer:Developer:Developer:Developer:Developer:Developer: Related Related RelatedRelated RelatedRelated Related Related Developer:Developer: East East End End Capital Capital PercentagePercentagePercentagePercentagePercentagePercentage Sold: Sold: Sold: Sold: N/A N/A Sold:N/A N/A Sold: N/A N/A PercentagePercentage Sold: Sold: N/A N/A PercentagePercentagePercentagePercentagePercentage Sold: Sold: Sold: 90+% Sold: 90+% Sold:90+% 90+% 90+%PercentagePercentagePercentagePercentagePercentage Sold: Sold: Sold: 100% Sold:100% 100% Sold: 100% 100% PercentagePercentagePercentagePercentagePercentage Sold: Sold: Sold: n/a Sold:n/a n/a Sold: n/a n/a PercentagePercentagePercentagePercentagePercentagePercentagePercentagePercentagePercentage Sold: Sold: Sold:Sold: Sold: 100% 100% Sold: 100%100% 100% Sold: 100% 100% PercentagePercentagePercentagePercentage Sold: Sold:Sold: Sold: 90+% 90+%90+% 90+% PercentagePercentagePercentagePercentage Sold: Sold:Sold: Sold: 100% 100%100% 100% PercentagePercentagePercentagePercentage Sold: Sold: Sold: Sold: n/a n/an/a n/a Market:Market:Market:Market: Market: Midtown MidtownMidtown Market:Midtown Midtown Midtown Midtown Market:Market: Midtown Midtown Market:Market:Market: Market: Edgewater Market:Edgewater Edgewater Edgewater Edgewater Market:Market:Market: Market: Edgewater Market:Edgewater Edgewater Edgewater Edgewater Market:Market:Market: Market: Edgewater Market:Edgewater Edgewater Edgewater Edgewater Market:Market:Market: Market: Edgewater Market:Edgewater Edgewater Edgewater Edgewater Market:Market:Market:Market: Edgewater EdgewaterEdgewater Edgewater Market:Market:Market:Market: Edgewater EdgewaterEdgewater Edgewater Market:Market:Market:Market: Edgewater EdgewaterEdgewater Edgewater Market:Market:Market:Market: Edgewater EdgewaterEdgewater Edgewater Stories:Stories:Stories:Stories: 31 Stories: 31 31 31 31 Stories:Stories:Stories: 31 3131 31 Stories:Stories:Stories:Stories: 40 Stories: 40 40 40 40 Stories:Stories:Stories:Stories: 53 Stories: 53 53 53 53 Stories:Stories:Stories:Stories: 54 Stories: 54 54 54 54 Stories: 31 Stories:Stories:Stories:Stories: 40 4040 40 Stories:Stories:Stories: 53 53 53 Stories:Stories:Stories: 54 54 54 Stories:Stories:Stories:Stories:Stories:Stories: TBDStories: Stories: TBD TBD TBD TBD TBD TBD TBD UnitUnitUnit Unit Types: Types:Types: Types:Unit Types:Unit Hotel, Types:Hotel, Hotel, Types: Hotel, Condo CondoHotel, Condo Hotel,Condo-- Condo-- Condo- - - Stories: 40 Stories:Stories: 53 53 Stories:Stories: 54 54 Stories:Stories: TBD TBD UnitUnit Types: Types: Hotel, Hotel, Condo Condo- - UnitUnitUnit Types: Types:Unit Types:Unit One,Types: One, Types: One, Two, One,Two, Two, One, Two, Two, UnitUnitUnit Types: Types:Unit Types:Unit Two,Types: Two, Types: Two, Three, Two,Three, Three, Two, Three, Three, Unit UnitUnit Types: Types:Unit Types:Unit One,Types: One, Types: One, Two, One,Two, Two, One, Two, Two, UnitUnitUnit Types: Types:Unit Types:Unit TBDTypes: TBD Types: TBD TBD TBD Hotel,Hotel,Hotel,Hotel, Condo: Condo:Condo:Hotel, Condo: Hotel,Condo: Condo:Studio, Studio, Studio,Condo: Studio, Studio,One, One, One,Studio, One, One, One, UnitUnit UnitUnit Types: Types:Types: Types: One, One,One, One, Two, Two,Two, Two, UnitUnitUnitUnit Types: Types:Types: Types: Two, Two,Two, Two, Three, Three,Three, Three, UnitUnitUnitUnit Types: Types:Types: Types: One, One,One, One, Two, Two,Two, Two, UnitUnitUnit UnitTypes: Types:Types: Types: TBD TBDTBD TBD Hotel,Hotel, Condo: Condo: Studio, Studio, One, One, ThreeThreeUnitThree Bedrooms ThreeTypes: Bedrooms ThreeBedrooms Bedrooms One, Bedrooms Two, FourFourFour UnitBedrooms BedroomsFour Bedrooms Types:Four Bedrooms Bedrooms Two, Three, ThreeThreeThree BedroomsUnitThree Bedrooms ThreeBedrooms Types: Bedrooms Bedrooms One, Two, Unit Types: TBD Two,Two,Two,Two, Three ThreeThree Two,Three ThreeTwo, Bedrooms BedroomsThree Bedrooms ThreeBedrooms Bedrooms Bedrooms ThreeThreeThreeThree Bedrooms BedroomsBedrooms Bedrooms FourFourFourFour Bedrooms BedroomsBedrooms Bedrooms ThreeThreeThreeThree Bedrooms BedroomsBedrooms Bedrooms SFSF Range:SFSF SFRange: Range: SFRange: Range:SF Range:TBD TBDRange: TBD TBD TBD TBD TBD Two,Two, Three Three Bedrooms Bedrooms SFSF ThreeRange:SF Range: Range:SF BedroomsSF Range:920 920Range: -9201530-1530 920-1530 SF920- 1530SF /SF- 1530 / /SF SF / / SFSF Range:SF FourRange: Range:SF SF Bedrooms Range:1,000 1,000Range: 1,000 – 1,000 2,500– –2,5001,0002,500 – SF2,500 SF– SF2,500 SF SF Three Bedrooms SFSF Range: Range: TBD TBD SFSFSF Range: Range:Range:SF Range: Range:SFSF Range:681 681 681Range: -6811596-1596-1596 681-1596 SF681 SF- 1596SF //SF - /1596 / /SF SF / / SFSF Range: Range: 920 920-1530-1530 SF SF / / SFSF Range: Range: 1,000 1,000 – –2,5002,500 SF SF SFSF SFRange:SF Range: Range: Range:SFRange:SF Range:1,124 1,124Range: 1,1241,124 1,124 – 1,124 1,873– –1,8731,124 –1,8731,873 – SF1,873 SF– SF1,873 SF SF Average SF Average AverageAverage SaleAverage Sale Sale Price: Price:Sale Price: Sale Price: Price: SFSF Range: Range: 681 681-1596-1596 SF SF / / 1,287SF1,287SF1,287 Range: AVG/Range:1,287 AVG/ AVG/1,287 SF 920 AVG/SF 920 SFAVG/-1530- SF1530 SF SF SF / / / 1,360/ SF1,360/ SF1,360 Range:AVG/SF/ 1,360Range: AVG/SF/ AVG/SF1,360 AVG/SF1,000 1,000 AVG/SF – 2,500– 2,500 SF SF SFSF Range: Range: 1,124 1,124 – 1,873 – 1,873 SF SF AverageAverageAverageAverage Sale SaleSale Sale Price: Price:Price: Price: 1,0181,0181,0181,018 AVG AVGAVG1,018 AVG AVG1,018 SF SF SFAVG SF AVG SF SF 1,2871,287 AVG/ AVG/ SF SF / /1,360 1,360 AVG/SF AVG/SF / 1,680/ /1,680 //1,680 1,6801,680 AVG// 1,680 AVG// AVG/ AVG/1,680AVG/ SF AVG/SF SF SF AVG/SF SF SF $530/SF$530/SF$530/SF$530/SFAverage$530/SF Sale Price: 1,0181,018 AVG AVG SF SF 1,2871,287 AVG/ AVG/ SF SF / 1,360/ 1,360 AVG/SF AVG/SF / 1,680/ 1,680 AVG/ AVG/ SF SF $530/SF$530/SF AverageAverageAverageAverage SaleAverage Sale Sale Price: Price:Sale Price: Sale Price: Price: AverageAverageAverageAverage SaleAverage Sale Sale Price: Price:Sale Price: Sale Price: Price: AverageAverageAverageAverage SaleAverage Sale Sale Price: Price:Sale Price: Sale Price: Price: AverageAverageAverageAverage SaleAverage Sale Sale Price: Price:Sale Price: Sale Price: Price: DevelopmentDevelopmentDevelopment$530/SFDevelopment$530/SFDevelopment Plans Plans Plans are Plans are Plansare are are AverageAverage Sale Sale Price: Price: AverageAverage Sale Sale Price: Price: AverageAverageAverageAverage Sale SaleSale Sale Price: Price:Price: Price: AverageAverage Sale Sale Price: Price: DevelopmentDevelopment Plans Plans are are $519,180AverageAverage$519,180$519,180$519,180-- Sale$519,180 Sale$510/SF-- --$510/SF $510/SFPrice: Price:-- $510/SF-- $510/SF $651,222Average$Average651,222$651,222$651,222 --$ 651,222 Sale$506-- Sale --$506$506 /SFPrice:-- Price:/SF$506 --/SF$506 /SF /SF $782,000$782,000$Average782,000$782,000--$$575/SF.782,000--$575/SF.-- $575/SF.Sale--$575/SF.-- Price:$575/SF. $1,184,440$1,184,440$Average1,184,440Average$1,184,440$ 1,184,440-- $705/SF--Sale --$705/SF Sale$705/SF --Price:$705/SF --Price:$705/SF beingbeingbeing Developmentreworkedbeing reworkedDevelopment beingreworked reworked reworkedsince since sincePlans a Planssince a asince are aare a $519,180$519,180----$510/SF$510/SF $$651,222651,222 -- --$506$506/SF/SF $$782,000$782,000782,000$782,000------$575/SF.$575/SF.$575/SF.--$575/SF. $$1,184,4401,184,440 -- --$705/SF$705/SF beingbeing reworked reworked since since a a $519,180$519,180----$510/SF$510/SF $$651,222651,222 -- --$506$506/SF/SF AskingAskingAsking$782,000 Asking$850/SF $850/SFAsking $850/SF --$850/SF $575/SF.for $850/SF for lowerfor lower forlower for lower lower $1,184,440$1,184,440 -- $705/SF-- $705/SF newnewnew developerbeing developernew beingdevelopernew developerreworked developer reworkedbought bought bought bought since boughtsince a a AskingAskingAsking $850/SF $850/SF$850/SF for forfor lower lowerlower newnew developer developer bought bought PHPHPHAskingPHPH $850/SF for lower propertypropertypropertynewpropertynewproperty developer developer bought bought PHPHPH propertyproperty PH propertyproperty
1900 NE Miami CT 77 Condos Projects Market Overview CondoCondoCondoCondoCondoCondoCondoCondo Projects Projects Projects ProjectsProjects Projects Projects Projects
The Crimson ParcParcParcParcParcParcLoftsLoftsLoftsParcLoftsLoftsParcLoftsLoftsLofts TheTheTheTheThe CrimsonThe Crimson Crimson TheCrimson TheCrimson Crimson Crimson OperaOperaOperaOperaOpera Opera TowerTowerOpera TowerOperaTower Tower Tower Tower Tower IonIonIonIon IonIonEast East EastEast IonEastIonIonIon EastEast East BiscayneBiscayneBiscayneBiscayneBiscayneBiscayneBiscayne BiscayneBeach Beach BeachBeach Beach Beach BeachBeach Beach Address: 1749Address: NE Miami1749 NE Ct Miami Address:Ct 601Address: NE 27th 601 ST NE 27th ST Address:Address: Address: 1750 1750 N NBayshore 1750Bayshore N Bayshore Address:Address:Address:Address:Address:Address:Address: 1749Address: 1749 17491749 1749 1749 NE NE 1749NENE NEMiami 1749 NEMiami MiamiMiami MiamiNE Miami NECt Miami Ct Ct CtMiamiCt Ct Ct Address:CtAddress:Address:Address:Address:Address:Address: 601Address: 601 601 601 NE 601 NENE 601NE27th 601NE 27th27th 27thNE ST 27thNE STSTST27th ST 27th ST ST ST Address:Address:Address:Address:Address: Address:1750 1750 17501750 N 1750 Bayshore 1750 N NN 1750 Bayshore Bayshore N N Bayshore NBayshore Bayshore Address:Address: Address:Address:Address: Address:Address: 2701 Address:2701 27012701 27012701 Biscayne Biscayne 2701 2701BiscayneBiscayne Biscayne Biscayne2701 BiscayneBiscayne Biscayne Address:Address:Address:Address:Address:Address:Address: 711Address: 711 711711 711 NE 711NE NENE 711NE29th711 29th NE711 29th29th 29th NENESt29th StNE StSt 29th29thSt 29thSt St St St DrDr Dr YearYearYearYear Built: Built:YearBuilt: Built:Year 2005 Built: 20052005 Built:2005 2005 2005 YearYear Built: Built:Year 2015 2015 Built: 2015 Dr DrDr DrDrDr BlvdBlvdBlvdBlvdBlvdBlvdBlvdBlvd YearYear Built: Built: 2005 2005 YearYearYearYear Built:Year Built: YearBuilt: Built:Year Built:2015 Built: 20152015 2015Built: 2015 2015 2015 YearYearYearYearYear Built: Built: Built:YearBuilt: Built:Year 2016 2016 Built: 20162016 Built:2016 2016 2016 YearYearYearYearYear Built:Built: Built:YearBuilt: Built:Year 20072007 Built: 2007 2007 2007Built:2007 2007 2007 Year Built: 2016 YearYear Built: Built: 2016 2016 Units:Units:Units:Units:Units:Units: 72 72Units: 7272 Units:72 72 72 72 Units:Units:Units:Units:Units: 9090Units: 9090 Units:90 90 90 Year Built: 2007 YearYearYearYear Built: Year Built:YearBuilt: Built:Built:Year 2016 Built: Built: 2016 2016 Built:20162016 20162016 2016 Units:Units: 90 90 Units:Units:Units:Units:Units: 399 399Units: 399399 Units:399 399 399 Developer:Developer:Developer: The The Intrepid Intrepid The Intrepid Units:Units:Units:Units:Units: 394Units:394Units: 394394 Units:394 394 394 394 Units:Units: 399 399 Developer:Developer:Developer:Developer:Developer:Developer:Developer: The The The The IntrepidThe Intrepid Intrepid TheIntrepid IntrepidThe Intrepid Intrepid Developer:Developer:Developer:Developer:Developer:Developer:Developer:Developer:Developer: MCkafkaMCkafka MCkafkaMCkafka MCkafka MCkafka MCkafka MCkafka Units:Units:Units:Units:Units: 328 328Units:Units: 328328 Units:328328 328328 328 RealReal Estate EstateReal Company CompanyEstate Company Developer:Developer:Developer: Florida Florida East FloridaEast East Developer:Developer:Developer:Developer:Developer:Developer:Developer: GTIS GTIS GTISGTIS GTIS GTIS GTIS RealRealRealReal RealEstate Estate RealEstate Estate RealEstate Company EstateCompany CompanyEstate Company Company Company Company DevelopmentDevelopmentDevelopmentDevelopmentDevelopmentDevelopmentDevelopmentDevelopmentDevelopment Developer:Developer:Developer:Developer:Developer:Developer: Florida Florida FloridaFlorida Florida East Florida Florida EastEast East East East Developer:Developer: Sakor Sakor Developer:Developer: GTIS GTIS Coast RealtyCoast Realty Developer:Developer:Developer:Developer:Developer:Developer:Developer: Sakor SakorSakor SakorSakor SakorSakor Sakor PercentagePercentagePercentagePercentagePercentagePercentage Sold: Sold:Sold: Sold: 100% Sold: 100%100% 100%Sold: 100% 100% PercentagePercentage Sold: 70% Sold: 70% CoastCoastCoastCoast RealtyCoastCoast RealtyRealty CoastRealty Realty Realty Realty PercentagePercentagePercentagePercentagePercentagePercentagePercentage Sold: Sold: Sold:Sold: Sold: 92% 92% Sold: 92%92% 92%Sold: 92% 92% PercentagePercentage Sold: Sold: 100% 100% PercentagePercentagePercentagePercentagePercentagePercentagePercentagePercentage Sold: Sold:Sold: Sold: 70%Sold: Sold: 70%70% 70% Sold: 70% 70% 70% DevelopmentDevelopmentDevelopmentDevelopmentDevelopmentDevelopmentDevelopmentDevelopment PercentagePercentage Sold: Sold: 92% 92% PercentagePercentagePercentagePercentagePercentagePercentagePercentagePercentage Sold: Sold: Sold: Sold: Sold:Sold: 90% 90%Sold: Sold: 90% 90% 90% Sold: 90% 90% 90% Market:Market:Market:Market: Market: WynwoodMarket: WynwoodWynwood Wynwood Wynwood Wynwood PercentagePercentagePercentagePercentagePercentagePercentagePercentage Sold: Sold: Sold:Sold: Sold: N/A N/A Sold: N/A N/ASold:N/A N/A N/A Market:Market:Market:Market:Market: Market: Edgewater EdgewaterMarket: EdgewaterEdgewater Edgewater Edgewater Edgewater Market:Market: Wynwood Wynwood Market:Market:Market:Market:Market:Market:Market: Market: EdgewaterEdgewater Market: EdgewaterEdgewater Edgewater Edgewater Edgewater Edgewater PercentagePercentage Sold: Sold: N/A N/A Market:Market: Edgewater Edgewater Market:Market:Market:Market:Market:Market: Market: EdgewaterEdgewaterMarket: Edgewater Edgewater EdgewaterEdgewater Edgewater Edgewater Edgewater Stories:Stories:Stories:Stories: Stories: 6Stories: 66 6 6 6 Market:Market:Market:Market:Market: Market: Edgewater EdgewaterMarket: EdgewaterEdgewater Edgewater Edgewater Edgewater Stories:Stories:Stories:Stories:Stories: Stories: 51 Stories:51 5151 51 51 51 Stories:Stories: 6 6 Stories:Stories:Stories:Stories:Stories:Stories: Stories: 1919Stories: 1919 19 19 19 Market:Market: Edgewater Edgewater Stories:Stories: 51 51 Unit Types:Unit One, Types: Two One, Two Stories: 19 Stories:Stories:Stories:Stories:Stories: Stories: 5555Stories: 55 55 5555 55 55 UnitUnitUnitUnitUnit Types:Unit Types: Types:Types: UnitTypes: Types:Unit One, Types: One, One,Types:One, One, One,Two Two TwoOne,Two Two One, Two Two Two Unit Types:Unit One, Types: Two, One, Two, Stories: 55 Stories: 36Stories: 36 UnitUnitUnitUnitUnit Types: Types: Types:Types: UnitTypes:Unit One, Types:One, One,Types:One, One, Two, Two, Two,One,Two, Two, One, Two, Two, UnitUnitUnitUnitUnit Types:Unit Types: Types: UnitTypes: UnitTypes: One, Types: One,Types:One, One, Two,One, Two,One,Two, Two, One, Two, Two, Two, Unit Types: Studio, OneStories: andStories:Stories:Stories: Stories: Stories: 36Stories: 36 36 3636 3636 36 UnitUnit Types: Types: One, One, Two, Two, BedroomsBedroomsBedroomsBedroomsBedroomsBedrooms UnitUnitUnitUnitUnit Types:Types: Types:Types: UnitTypes:Unit Studio,Studio,Types: Studio, Types:Studio, Studio,Studio, One Studio,One OneStudio, OneOne and and andand Oneand One and and Three, FourThree, Bedrooms Four Bedrooms BedroomsBedrooms ThreeThreeThreeThreeThree BedroomsBedroomsThree BedroomsBedrooms ThreeBedrooms Bedrooms Bedrooms Unit Types: Studio, One andUnit Types:Unit One, Types: Two, One, Two, Three,Three,Three,Three,Three, FourThree, FourFourThree, Four FourBedrooms Bedrooms FourBedrooms FourBedrooms FourBedrooms BedroomsBedrooms Bedrooms ThreeThree Bedrooms Bedrooms TwoTwoTwoTwoTwo BedroomsBedrooms BedroomsBedrooms TwoBedroomsTwo Bedrooms Bedrooms UnitUnitUnitUnit Types: Types:UnitTypes: UnitTypes:Unit One, Types:Types: One,Types:One, One,One, Two, One, Two,One,Two, Two, Two,One, Two, Two, SFSFSF SF Range:SFRange: Range:Range: Range:SFSF 663Range:663 Range: 663663 663--1,3781,378-- -1,3786631,3781,378 663 SFSF- 1,378 - SF- SF /1,378SF/ // / SF SF / / TwoTwo Bedrooms Bedrooms Three BedroomsThree Bedrooms SFSFSF SFRange:SF Range: Range:Range: Range:SFSF 885Range: 885 Range: 885885 885 - -3,772 -3,772- 885-3,7723,772 3,772885 SF- SF 3,772- SF- SF /3,772SF / // / SF SF / / SF SFRange: Range: 663 663- 1,378- 1,378 SF SF/ / SFSFSF SF Range:SFRange: Range:Range: Range:SFSF 585 Range:585 Range: 585585 585--1,2251,225-- -1,2255851,2251,225 585 SF -SF1,225 - SF- SF / 1,225SF / // / SF SFThree / Three/Three Three BedroomsThree BedroomsBedrooms ThreeBedroomsBedrooms Bedrooms Bedrooms SF SFRange: Range: 885 885 - 3,772 - 3,772 SF SF/ / SFSF SFRange:SF Range:Range: Range:SFSF 1,071Range: Range: 1,0711,071 1,071- 1,970SF 1,071-- -1,970SF1,0711,970SF1,970SF- 1,970SF -- 1,970SF 1,1431,143 1,1431,1431,143 AVG/AVG/1,143 AVG/AVG/ 1,143AVG/ SFSF AVG/ SFSF SFAVG/ SF SF SF SFRange: Range: 585 585- 1,225- 1,225 SF SF/ / Three Bedrooms 14281428142814281428 AVG AVG 1428AVGAVG AVG1428 SF SF SFAVGSF SF AVG SF SF SF SFRange: Range: 1,071 1,071- 1,970SF- 1,970SF 1,1431,143 AVG/ AVG/ SF SF 978978978978978 AVGAVG AVGAVG 978AVG SF978SF SFAVGSF SF AVG SF SF SFSFSF SFRange: SFRange: Range:Range: Range:SFSF 695Range: 695 Range: 695695 695--1,8001,800-- -1,8006951,8001,800 695 SF -SF1,800 - SF- SF /1,800SF / // / SF SF / / 14281428 AVG AVG SF SF 978978 AVG AVG SF SF SF SFRange: Range: 695 695- 1,800- 1,800 SF SF/ / AverageAverageAverageAverageAverageAverage Sale AverageSale SaleSale Sale Price: Price: Price:SalePrice: Price: Sale Price: Price: AverageAverageAverageAverageAverageAverage SaleSaleAverage SaleSale Sale Price:Price: Price:SalePrice: Price: Sale Price: Price: DeveloperDeveloperDeveloperDeveloperDeveloperDeveloperDeveloper is is selling issellingis is sellingselling selling is final isfinalselling finalsellingfinal final 50 50 50 50 final50 final 501,1001,100 50 1,1001,1001,100 AVG AVG1,100 AVGAVG 1,100AVG SF SF SFAVGSF SF AVG SF SF AverageAverage Sale Sale Price: Price: 1/111 /11Asking/1/1 AskingAsking Asking1/11 /1 /1 $335/SFAsking Asking $335/SF $335/SF $335/SF $335/SF $335/SF AverageAverage Sale Sale Price: Price: DeveloperDeveloper is selling is selling final final 50 50 1,1001,100 AVG AVG SF SF $833,952$833,952$833,952$833,952$833,952$833,952 $833,952/ /$584 $584 // $584/$584 $584 / $584 / $584 1/1 1Asking/1 Asking $335/SF $335/SF $$622,935622,935$$622,935$622,935622,935$622,935$----622,935$545/SF--$545/SF----$545/SF$545/SF$545/SF------$545/SF$545/SF unitsunitsunitsunitsunits andand andunitsand and offeringunitsoffering offeringoffering andoffering and offeringan an offering ananoption anoption optionoption option an an option option AverageAverage AverageAverage AverageAverage Sale SaleAverage SaleSale Sale Price: Price: Price:SalePrice: Price: Sale Price: Price: $833,952$833,952 / $584 / $584 $622,935$622,935-- $545/SF-- $545/SF unitsunits and and offering offering an optionan option AverageAverage Sale Sale Price: Price: ofof of3of3-of- yr 3yr3 -3 - yrRentalyr-Rentalofyr Rentalof Rental3Rental -3yr --Master yr yrMasterRental MasterRentalRentalMaster Master LeaseMasterLease MasterLeaseMasterLease Lease Lease Lease Lease$$565,400565,400$ $565,400$565,400 565,400$565,400$----565,400$514/SF--$514/SF----$514/SF$514/SF$514/SF------$514/SF$514/SF of 3of-yr 3 Rental-yr Rental Master Master Lease Lease $565,400$565,400-- $514/SF-- $514/SF AskingAskingAskingAskingAsking $540k Asking$540k $540kAsking$540k $540k for for$540k for for$540k 905 for905 905905 905 SFforSF forSFforSF or905SF or 905 or or or SF SF or or atat at6%at6%at 6%6% 6% ofofat ofPurchaseofPurchase at of6% Purchase Purchase6%Purchase of of Purchase PurchasePrice Price PricePrice Price to to Price toto toPrice to to AskingAsking $540k $540k for 905for 905SFSF or or at 6%at 6%of Purchase of Purchase Price Price to to $596/SF$596/SF$596/SF$596/SF$596/SF$596/SF on $596/SFon ononlast onlast lastlast last1/1 on1/1 1/1on1/1 1/1last last 1/1 1/1 incentivizeincentivizeincentivizeincentivizeincentivizeincentivizeincentivizeincentivize investors investors investorsinvestors investors investors investorsinvestors $596/SF$596/SF on laston last 1/1 1/1 incentivizeincentivize investors investors
1900 NE Miami CT 78 Condos Projects Market Overview CondoCondoCondoCondo Projects ProjectsProjects Projects
232323BiscayneBiscayneBiscayne23 Biscayne BayBayBay House Bay HouseHouse House AriaAriaAria onAria onon the thetheon Bay BaytheBay Bay WynwoodWynwoodWynwoodWynwoodLoftsLoftsLoftsLofts Address:Address:Address:Address: 601 601601 NE 601 NENE 23 23NE23 St St St23 St Address:Address:Address:Address: 600 600600 NE 600 NENE 27th 27thNE27th ST 27th STST ST Address:Address:Address:Address: 1770 17701770 N1770 NBayshoreN BayshoreBayshore N Bayshore Address:Address:Address:Address: 250 250250 nw 250 nwnw23rd23rd 23rdnw street23rd streetstreet street DrDrDr Dr YearYearYear Built:Year Built:Built: Built:2012 20122012 2012 YearYearYear Built:Year Built:Built: Built:2015 20152015 2015 YearYearYear Built:Year Built:Built: 2017Built: 20172017 2017 YearYearYear Built:Year Built:Built: 2005Built: 20052005 2005 Units:Units:Units: Units: 96 9696 96 Units:Units:Units: Units:164 164164 164 Units:Units:Units: Units:647 647647 647 Units:Units:Units: Units:36 3636 36 Developer:Developer:Developer:Developer: Lombardi LombardiLombardi Lombardi Developer:Developer:Developer:Developer: Melo MeloMelo GroupMeloGroupGroupGroup Developer:Developer:Developer:Developer: Melo MeloMelo GroupMelo GroupGroup Group Developer:Developer:Developer:Developer: Melo MeloMelo GroupMelo GroupGroup Group PropertiesPropertiesPropertiesProperties PercentagePercentagePercentagePercentage Sold: Sold:Sold: 100%Sold: 100%100% 100% PercentagePercentagePercentagePercentage Sold: Sold:Sold: 97%Sold: 97%97% 97% PercentagePercentagePercentagePercentage Sold: Sold:Sold: 40%Sold: 40%40% 40% PercentagePercentagePercentagePercentage Sold: Sold:Sold: 100%Sold: 100%100% 100% Market:Market:Market:Market: Edgewater EdgewaterEdgewater Edgewater / // / Market:Market:Market:Market: Edgewater EdgewaterEdgewater Edgewater / // / Market:Market:Market:Market: Edgewater EdgewaterEdgewater Edgewater / // / WynwoodWynwoodWynwoodWynwood/ Arts// ArtsArts/ Arts WynwoodWynwoodWynwoodWynwood/ Arts// ArtsArts/ Arts Market:Market:Market:Market: Edgewater EdgewaterEdgewater Edgewater / // / WynwoodWynwoodWynwoodWynwood/ Arts// ArtsArts/ Arts WynwoodWynwoodWynwoodWynwood/ Arts// ArtsArts/ Arts Stories:Stories:Stories:Stories: 18 1818 18 Stories:Stories:Stories:Stories: 36 3636 36 Stories:Stories:Stories:Stories: 51 5151 51 Stories:Stories:Stories:Stories: 3 33 3 UnitUnitUnit Types: Unit Types:Types: Types: One, One,One, Two,One, Two,Two, Two, UnitUnitUnit Types: Unit Types:Types: Types: Two TwoTwo and Two andand Three and ThreeThree Three UnitUnitUnit Types: Unit Types:Types: Types: One, One,One, Two,One, Two,Two, Two, ThreeThreeThree ThreeBedrooms BedroomsBedrooms Bedrooms BedroomsBedroomsBedroomsBedrooms ThreeThreeThree ThreeBedrooms BedroomsBedrooms Bedrooms UnitUnitUnit Types: Unit Types:Types: Types: Lofts LoftsLofts Lofts SFSFSF Range: Range:Range:SF Range: 663 663663- 1,403 -663-1,4031,403- 1,403SF SFSF / //SF / SFSFSF Range: Range:Range:SF Range: 1,601 1,6011,601 -1,6011,725--1,7251,725- 1,725SF SFSF SF SFSFSF Range: Range:Range:SF Range: 780 780780 – 780 –1600–16001600 – SF1600 SFSF / //SF / 000000000 AVG 000 AVGAVG SFAVG SFSF SF / 1,660// 1,6601,660/ 1,660AVG AVGAVG SFAVG SFSF SF 1,3441,3441,344 1,344/ AVG // AVGAVG / SFAVG SFSF SF SFSFSF Range: Range:Range:SF Range: 840 840840 – 840 –1463–14631463 – SF1463 SFSF / //SF / AverageAverageAverageAverage Sale SaleSale Price: Sale Price:Price: Price: AverageAverageAverageAverage Sale SaleSale Price: Sale Price:Price: Price: AverageAverageAverageAverage Sale SaleSale Price: Sale Price:Price: Price: 2015:2015:2015: 2015:5 5Units5 UnitsUnits 5 askingUnits askingasking asking $500,000$500,000$500,000$500,000 / $375 // $375$375 / $375 $659,020$659,020$659,020$659,020 / $ // 397/SF $$397/SF397/SF / $397/SF AverageAverageAverageAverage $365 $365$365 /SF$365 /SF/SF /SF 2015:2015:2015: 2015:6 6Units6 UnitsUnits 6 forUnits forfor Sale Sale Salefor Sale AskingAskingAskingAsking 459/ 459/459/ for 459/ forfor 4 4remaining 4for remainingremaining 4 remaining $720,384$$720,384720,384$720,384-- --$536/SF--$536/SF$536/SF-- $536/SF askingaskingaskingasking $260,000 $260,000$260,000 $260,000- $499,000--$499,000$499,000- $499,000 - -- - units,units,units, units,penthouse penthousepenthouse penthouse for forfor sale sale salefor at sale atat at - --$290$290$290- -$290$392/SF--$392/SF$392/SF- $392/SF $ $765/SF$ 765/SF765/SF$ 765/SF
1900 NE Miami CT 79 Zoning analysis
Zoning
The following section details zoning and allowed uses.
• Residential is an allowed use.
• Commercial/Retail is an allowed use.
• Office is an allowed use.
• A total of 267,281 SF of development SF can be built on the site.
• 490 residential units are allowed.
1900 NE Miami CT 80 Zoning Highlights Zoning Analysis
PROPERTY ZONING SUMMARY & HIGHLIGHTS
The majority of Wynwood’s Properties are governed by considerably more restrictive zoning that allow fewer uses than the Property’s zoning.
Miami21 The Property’s T6-8 zoning allows Wynwood’s greatest variety of uses, The City of Miami has adopted a form-based zon-
including civic buildings of regional importance. ing code known as Miami 21, which deemphasizes the regulation of uses, and instead emphasizes the • Owner has the right to build high density multifamily residential units, regulation of building form. hotels, office buildings, commercial space/retail as well as other uses. • 100% Residential Development: Max Gross Building Area 213,825 SF. The outcomes of this type of zoning code are numerous: zoning areas with greater intensity,
• 100% Office Development: Max Gross Building Area 213,825 SF. mixed use zones, more transitional zones created • Maximum Residential Density: 490 units. by emphasis placed on form rather than use, more predictable physical result, a zoning code that is • Maximum Potential Residential with Bonuses: 267,281 gross SF. pro-active vs. re-active, and codes and regulations • Maximum Potential Office with Bonuses: 267,281 gross SF. that are easier to read for citizens and are more predictable. Charts below demonstrate zoning with and without bonuses.
Maximum Buildable Without Bonus Maximum Buildable With Bonus Per Miami21 Per Miami21 Residential/Condo/Lodging Residential/Condo/Lodging Total SF 213,825 SF Total SF 267,281 SF Total Units (Condo) 490 Total Units (Condo) 490 Total Units (Lodging) 980 Total Units (Lodging) 980 Commercial: Office/Retail Commercial: Office/Retail Total SF 213,825 SF Total SF 267,281 SF
1900 NE Miami CT 81 ZoningZoning Nearby Nearby Properties Properties Zoning Analysis
Aggressive & Flexible Property Property benefits from Zoning more highest density and moreThe Property’s flexible T6-8 zoningzoning has several advantages over comparedmore restrictive most zoning desigother- propertiesnations that dominatein a sigthe- immediatenificant portion area of. the neigh- borhood with zoning such as the “D1” designation that D1does not allowaccommodates the following commercialuses: single family, commu and- industrialnity residence, uses twoof a familyscale withresidence, a Streetscape multifamily housthat- ing, dormitory , home office, facilitatesor live-work (dwellingvehicular unit accessthat contains. Density a commercial is 36 du/ acreor office and acomponent max height which of is limited to a maximum fifty 2percent stories of. theAlso, Dwelling T-3, UnitT-4, T-5area). Conversely,are all T6-8more al- prohibitivelows all these uses and withalso developmentsallows lodging uses. including Bed & Breakfast, Inn and Ho- tel.
D1 allows for work-live a mixed-use unit that contains a commercial, office or light industrial component. D1 density is also only 36 du/ acre. 1900 NE Miami CT
1900 NE Miami CT 82 ResidentialResidential D Densityensity ZONINGZonin ANALYSISg Analysis
RRESIDENTIALesidential Densi DENSITYty Analysis ANALYSIS
•• BaseBase residential residential density density for for the the T6-8 T6 zone-8 zone is 150is 150 units/acre. units/acre.
•• TheThe Property Property is situated is situated in thein the Omni Omni zone, zone, which, which, per per Article Article 4, 4, DiagramDiagram 9 of 9 ofthe the Miami Miami 21 21zoning zoning code, code, has has a residentiala resident idensityal dens ity bonusbon tous 500to 5 units/acre.00 units/acre.
Density per Miami21 Zoning Code DescriptionDensity per Miami21 Zoning School Code Description School Lot Area 5,000 SF Minimum 47,850 SF Lot Area 5,000 SF Minimum 42,765 SF Lot Area 1.10 Acres Lot Area .98 Acres
1.10 AC x Base residential density for Residential .98 AC500 x 500 theBase T6 -residential8 zone is 150 density for Residential the T6-8 zone is 150 units/acre. The properties are 549490 units situatedunits/acre. in the The Omni properties Zone are Density situated in the Omni Zone Density which, per Article 4, Diagram 9 which, per Article 4, Diagram 9 of the Miami 21 zoning code, of the Miami 21 zoning code, has a residential density 1.10 AC x has a residential density .98 AC x bonus to 500 units/acre. Lodging* 1,000 bonus to 500 units/acre. Lodging* 1,000
1,098 units 980 units * Lodging Units are considered as equivalent to one-half (0.50) of a Dwelling Unit * Lodging Units are considered as equivalent to one-half (0.50) of a Dwelling Unit
Setbacks The building setbacks for the first 8 floors are 10 feet from the Principal Front, 10 feet from the Secondary front and no setbacks from side and rear. Floors 9- 12 would possibly have smaller floor plates since the setbacks are 20 feet from the Principal Front, 20 feet from the Secondary Front and 30 ArticleArticle 4.4. DiagramDiagram 99 feet from the side and rear.
1900 NE Miami CT 83 Zoning Calculations – Max Development (No Bonus) ZoningZoning Calculations Calculations – Max - Max Development Development (No (N Bonus)o Bonus) ZONINGZONINGZonin g ANALYSISANALYSIS Analysis
The subject is located in the T6-8-O zone, which allows for a de- velopment with a maximum of 8 stories and the greatest number Buildable Square Footage - Lot Coverage Constrained of uses in the entire code. The maximum development capacity Code Description Aspira Site of the site is constrained by a variety of factors, including the Lot Area 5,000 SF Minimum 42,765 SF Floor to Lot Ratio (FLR) and the Lot Coverage calculations, which Lot Width 100 ft. Minimum - are detailed below. The FLR calculation applies to residential, condo, lodging, office and retail uses Maximum Building Height 8 Stories
Buildable Square Footage - Floor Lot Ratio Lot Coverage Residential/Condo/Lodging Code Description Aspira Site 80% maximum lot coverage Lot Area 5,000 SF Minimum 42,765 SF The following figures represent the 42,765*(80%)*8 Floors Lot Width 100 ft. Minimum - Floors 1-8 total square footage allowable for floors 1-8 based on the maximum lot 273,696 SF FLR refers to the coverage multiplier applied to total Total 273,696 SF lot area that determines 42,765 x 5 Commercial: Office/Retail the maximum building Floor Lot Ratio (FLR) 80% maximum lot coverage area allowed above grade The following figures represent the 42,765*(80%)*8 Floors
Floors 1-8 total square footage allowable for floors 1-8 based on the maximum lot 273,696 SF FLR : 5 213,825 SF coverage Total 273,696 SF • FAR has been replaced in Miami 21 by FLR The maximum allowable square footage that can be built on the site is • Floor Lot Ratio (FLR): Refers to the multiplier applied to the deduced by taking the lesser of the maximum allowable square footage as net lot area that determines the maximum building area allowed provided by the “Floor Lot Ratio (FLR)” calculation or the “Lot Coverage” above grade. For the 1900 N Miami Avenue site, the FLR is 5. calculation. As such, the maximum allowable is highlighted below in gold.
• Lot Coverage Calculation: A separate calculation to determine Maximum Buildable Square Footage maximum development potential via multiples of the site size in conjunction with maximum floor plate sizes. Max per FLR Max per Lot Coverage Residential/Condo/Lodging
• Maximum Development Square Footage Calculations: Total SF 213,825 SF 273,696 SF Maximum development square footage is calculated as the lesser of the maximum allowable square footage as provided Commercial: Office/Retail by the “Floor Lot Ratio” calculation or the “Lot Coverage Total SF 213,825 SF 273,696 SF calculation,” which are both detailed in the following section.
1900 NE Miami CT 84 Zoning Public BenefitsP rogram Bonus Zoning Analysis
Public Benefits Program
• In exchange for a contribution to specified programs that provide benefits to the public, the Public Benefits Program allows a developer to supersede basic FLR and Lot Coverage restrictions with bonus building height and FLR in T6 zones.
• Floor Lot Ratio (FLR) Bonus: 25% increase.
• Lot Coverage Bonus: An increase in height from 8 stories up to a maximum of 12 stories.
• Due to setback requirements, maximum buildable SF on floors 9-12 may not be feasible.
Qualifications
There are several ways to qualify for the Public Benefits Program. Please see Article 3.14 of the Miami 21 Zoning Code for further information.
• Affordable/Workforce Housing (On or off-site).
• Public Parks and Open Space.
• Green Building (Upgrade to Gold or Platinum Certification).
• Trust Fund Contribution.
1900 NE Miami CT 85 Zoning Calculations – Max Development with Bonus ZONING ANALYSIS Zoning Calculations - Max Development with Bonus Zoning Analysis
Buildable Square Footage - With Floor Lot Ratio Bonus Buildable Square Footage - With Height Bonus Code Description with Bonus Aspria Site Code Description with Bonus Aspira Site Lot Area 42,765 SF Lot Area 42,765 SF
FLR refers to the multiplier applied Bonus in the T6-8 zone allows an to total lot area that determines the 42,765 x 6.25 Bonus Height increase in the maximum height 12 Stories Floor Lot Ratio (FLR) maximum building area allowed from 8 to 12 stories above grade 267,281 SF T6-8: 5 + 25% bonus = 6.25 Lot Coverage Residential/Condo/Lodging 80% maximum lot coverage • In exchange for a contribution to specified programs that 42,765*(80%)*8 The following figures represent the provide benefits to the public, the Public Benefits Program Floors Floors 1-8 total square footage allowable for allows a developer to supersede basic FLR and Lot Coverage floors 1-8 based on the maximum 273,696 SF restrictions with bonus building height and FLR in T6 zones. lot coverage
• Floor Lot Ratio (FLR) Bonus: 25% increase 15,000 x 4 Floors Floors 9-12 15,000 SF maximum floorplate • Lot Coverage Bonus: An increase in height from 8 stories up 60,000 SF to a maximum of 12 stories. Total 333,696 SF Commercial: Office/Retail
• Due to setback requirements, maximum buildable SF on floors 80% maximum lot coverage 42,765*(80%)*8 9-12 may not be feasible The following figures represent the Floors Floors 1-8 total square footage allowable for floors 1-8 based on the maximum The maximum allowable square footage that can be built on the 273,696 SF lot coverage site including bonuses is deduced by taking the lesser of the maxi- mum allowable square footage as provided by the “Floor Lot Ratio 30,000 x 4 Floors (FLR)” calculation or the “Lot Coverage” calculation. As such, the Floors 9-12 30,000 SF maximum floorplate maximum allowable is highlighted below in gold. 120,000 SF
Total 393,696 SF
Maximum Buildable Square Footage with Bonus Max per Lot Max per FLR Coverage Residential/Condo/Lodging Total SF 267,281 333,696 Commercial: Office/Retail Total SF 267,281 333,696
1900 NE Miami CT 86 Zoning Parking Zoning Analysis Zoning Parking
Parking Requirements Residential - Principal Dwelling - Minimum of 1.5 parking spaces per principal dwelling unit - Minimum of 1 additional parking space for every 10 dwelling units - Parking ratio may be reduced within 1/2 mile radius of TOD and within 1/4 mile radius of a Transit Corridor by thirty percent (30%) by process of Waiver, except 1900 NE Miami ct when T6 is within 500 feet of T3*
Lodging - Minimum of 1 parking space for every 2 lodging units - Minimum of 1 additional visitor parking space for every 15 lodging units - Parking ratio may be reduced within 1/2 mile radius of TOD and within 1/4 mile radius of a Transit Corridor by thirty percent (30%) by process of Waiver, except when T6 is within 500 feet of T3*
Office - Minimum of 3 parking spaces for every 1,000 square feet of office space - Parking ratio may be reduced within 1/2 mile radius of TOD and within 1/4 mile radius of a Transit Corridor by thirty percent (30%) by process of Waiver, except when T6 is within 500 feet of T3*
Commercial/Retail - A minimum of 3 parking spaces for every 1,000 square feet of space - Parking ratio may be reduced within 1/2 mile radius of TOD and within 1/4 mile radius of a Transit Corridor by thirty percent (30%) by process of Waiver, except when T6 is within 500 feet of T3*
*Property sits in the 1/2 mile transit shed
1900 NE Miami CT 87