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 […]

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