March 17, 2016
633% gain in recent Wynwood lot sale
Entire block purchased in October 2014 for $3M in October 2015 sold for $22M
Another day, another spectacularly profitable transaction carried out in Miami's red-hot Wynwood Art District.
Wynwood Propco, managed by Remy Jacobson in Aventura, sold the property to 201 NW 21 LLC, managed by Miami Beach investor Sam Herzberg, who has made numerous investments in South Beach and the Miami Design District.
Jacobson’s company acquired the property for $3 million in October 2014. It was built in 1941.
The $22 million price equates to $822 per square foot of building or $449 per square foot of land.