Lynd Group is purchasing a Miami Worldcenter enhancement web site for roughly $35 million, with programs to establish a 551-unit condo tower.
The San Antonio, Texas-primarily based company has the fifty percent-acre assemblage on the northeast corner of North Miami Avenue and Northeast Ninth Road under deal, in accordance to resources at Lynd. The land is instantly south of a further half-acre web page that Lynd owns and ideas to develop with 551 flats. Equally towers would be 63 stories and consist of a whole of 100,000 sq. feet of retail and probably 20,000 square feet of workplaces, together with co-operating spaces, the resources mentioned.
Documents clearly show an entity managed by E11even nightclub co-proprietor Marc Roberts and Titan Capital’s Ira Saferstein owns the website that is less than agreement. The addresses of the 4-whole lot assemblage incorporate 21 Northeast Ninth Avenue and 909 North Miami Avenue.
In 2022, Lynd bought its apartment tower development web-site at 941 North Miami Avenue for $30 million. The seller of that website also was an affiliate of Roberts and Saferstein, data clearly show.
Lynd, led by CEO David Lynd, joins a increasing listing of corporations hurrying to assert their piece and establish at the 27-acre Miami Worldcenter. Miami Worldcenter Associates, led by Art Falcone and Nitin Motwani, in partnership with Los Angeles-primarily based CIM Group, are the learn builders of the mixed-use megaproject that spans 10 blocks at the intersection of downtown Miami and the city’s Park West neighborhood.
Practically 8,500 condominium and condominium models 499 lodge keys and 800,000 square toes of commercial true estate are on tap at Miami Worldcenter, according to The True Deal’s analysis of records. Previously accomplished are the 444-device Caoba and 434-device Bezel apartment towers, the 569-unit Paramount Miami Worldcenter condominium tower, and 300,000 square toes of retail.
Other folks seizing on Miami Worldcenter include Falcone’s eponymously named Boca Raton-based genuine estate agency, which scored acceptance final week for a 53-story tower with 351 condos, 280 lodge keys and 15,000 sq. feet of commercial area at 155 Northeast 10th Road.
Adam Neumann’s Circulation true estate business strategies 40,000 sq. ft of offices and 19,000 sq. ft of retail house along Miami Worldcenter’s 7th Avenue Promenade, right away north of Caoba. Circulation also has an ownership stake in Caoba and the adjacent 2nd 40-story, 422-device Caoba tower, which is under building.
The Pérez family’s Coconut Grove-centered Connected Group and the Motwani family’s Fort Lauderdale-based mostly Merrimac Ventures are acquiring the 33-tale, 450-unit The Crosby, a shorter-term rental welcoming rental tower at 601 North Miami Avenue.
Lynd is generally an apartment developer and investor, while it’s been ramping up its condo enhancement pipeline. In January, it released income of its 15-tale, 380-device condo venture at 90 North Bryan Highway in the Dania Pointe blended-use advancement in Dania Seaside. Charges for models at the creating, referred to as Aileron Residences, assortment from $350,000 to $2 million.
Lynd and developer Brian Tuttle are building the 401-device The Villas at Tuttle Royale at 11200 Nicole Travel in the 200-acre Tuttle Royale grasp-prepared task in Royal Palm Beach.
