MIAMI, Florida—August 10, 2021 – Lee & Associates South Florida announces the sale of a two-parcel assemblage in Miami’s trending Wynwood Arts District for $4.39 million. Lee & Associates South Florida President, Matthew Rotolante, SIOR, CCIM, and Vice President, Michael Avendano, represented the Seller, Carol Invest, USA, and procured the Buyer, JAK Land, LP. The property located at 560-566 NW 29^th Street in Miami, Florida traded on July 20^th, 2021, for $4,389,250, or $400.81 per SF.

The property consists of two adjacent commercial buildings fronting NW 29^th Street, both adorned with the traditional street art, and enjoying proximity to the hottest art galleries, restaurants, and entertainment venues, and just blocks away from the world renowned Wynwood Walls which attracts thousands of visitors each month. The buildings total 10,951 SF of flexible/ creative use space and offers a gated private parking lot with 6 parking spaces, and visibility from I-95 traffic counts of over 247,000 vehicles per day.

The underlying Miami 21 zoning is T6-8-O allowing excellent future development potential. To join over two-dozen major active developments currently under construction and planned for the area for in 2021 and beyond and slated to bring thousands of new residential units and hotel rooms, and office and retail space.

Rotolante is also marketing for the seller The Orchid House Hotel, a private, luxury boutique hotel in Miami Beach located directly in the heart of South Beach on Collins Ave and designed by renowned architect, Wallace Tutt, who also designed the Versace Mansion. Carol Invest, USA was referred to Lee & Associates South Florida by the Lee & Associates New York City office for service and stands as a testament of the collaborative culture within the Lee & Associates national network.