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.