Wynwood site sells at loss for under $15M to Turkish buyers
A Turkish company paid $14.5 million in cash for a Miami property at the crossroads of Wynwood, Midtown and Edgewater, marking a steep discount from the last sale. Terminal Wynwood LLC, managed by Ismail Murat Ozcan and Kayril Karabeyoglu, acquired the five-parcel assemblage at 85 Northeast 27th Street from Well Meaning Spaces, according to the seller’s broker. The 0.76-acre site includes a 23,150-square-foot creative office building. Tony Arellano and Devlin Marinoff of Dwntwn Realty Advisors represented the seller. The $14.5 million sale price reflects a 23 percent drop from the $18.75 million seller paid for the property in 2022, when […]This article originally appeared on The Real Deal. Click here to read the full story.
Recent Posts
Redfearn sells Palm Beach building for more than 2X last year’s price
Miami-Dade extends historic courthouse auction after striking out again in bid to offload building
Midtown buys Doral industrial portfolio for $86M as local businesses drive demand for smaller spaces
Nelson Peltz takes out another $30M mortgage on Palm Beach estate
Six busted in $6M Miami condo association fraud scheme
Inside South Florida’s billion-dollar convention center hotel building boom
Controversial industrial HQ project outside Miami’s UDB back for a vote
Rishi Kapoor sentenced to 11-plus years behind bars for $89M fraud scheme
Cortland sells multifamily complex for $208M as market oversupply shows signs of balancing
Waterfront teardown in North Palm Beach sells for $28M
