Wynwood site entitled for massive Live Local project sells for $54M
A developer turned an 1,100 percent gain on a nearly 2-acre Wynwood assemblage after entitling it for one of the tallest Live Local Act projects in the neighborhood. Ultimate Equity, led by David Sedaghati, sold the assemblage for $54 million to an affiliate of South Florida investor Gary Krat, according to records and real estate database Vizzda. The property, on the southeast corner of Northwest 26th Street and Northwest Sixth Avenue, was approved in November 2024 for a 36-story, 1,300-unit apartment project, records show. The sale breaks down to $28.1 million per acre. Ultimate Equity assembled the property for $4.5 […]This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
The amenity arms race is over. The profit center era has begun.
Seniors hold a record share of housing wealth. The mortgage system still struggles to underwrite it.
Paul Cejas scores rezoning approval for Lincoln Road apartment project
Dallas Cowboys Cheerleaders Alum Reece Weaver Snaps Up $750K Alabama Home With Husband Will Allman—After Shock Exit From the Team
Developers rack up incentives amid Fort Lauderdale affordability crunch
New $24B Washington Commanders Stadium Complex Will Include 6,500 Homes
Inside Serena Williams’ Winning $35 Million Real Estate Portfolio—as She Loses Her First-Round Wimbledon Match to Maya Joint
When AI listing videos look too real: the disclosure test agents need now
Newsom signs balanced budget with $1.7B locked-in for housing
Why Carlisle Companies targets Owens Corning for an M&A combo
GET MORE INFORMATION
Stevan Stanisic
Real Estate Advisor | License ID: SL3518131
Real Estate Advisor License ID: SL3518131