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Wynwood Complex Sold for $24 Million by the Former Mayor of Miami Beach

Former Miami Beach mayor, Philip Levine, has successfully sold the Whale & Star building complex in Wynwood. Managed by Levine’s entity, three warehouses at 2215 Northwest First Place were sold for $24 million. Collectively, the buildings span 27,400 square feet, resulting in a sale price of approximately $623 per square foot. The buyer, a Delaware LLC named Whale & Star Wynwood Owner, lists Miami-based attorney Charles Ratner as its sole member.

Representing the buyer was Laura Valente from Global Luxury Realty and Alyssa Morgan from the Inside Network. Tony Arellano and Devlin Marinoff represented Levine in the transaction.

Initially listed for $29 million, Levine’s entity acquired the three warehouses in 2012 for $5.9 million. They subsequently transformed the buildings into an art gallery complex. Notably, the site is situated adjacent to a proposed Woonerf, a pedestrian-friendly street inspired by Dutch urban design.

While the existing complex offers the potential for repurposing into retail storefronts with glass walls, parts of the property are poised for redevelopment. The southern portion, in particular, could make way for either a hotel with 265 to 388 rooms or an apartment building with 132 to 194 units. The zoning also permits the construction of an eight-story office building, as outlined in the listing.

Levine held the position of Miami Beach mayor from 2013 to 2017. Following this, he made an unsuccessful bid for the role of Florida’s governor. Together with his partner, Miami Beach-based developer Scott Robins, Levine owns a 0.9-acre site at 35-83 Northwest 27th Street in Wynwood. Their proposal envisions a five-story building featuring 203 units and 15,000 square feet of ground-floor retail space.

In a separate transaction earlier this month, an entity managed by Robins and Levine sold a three-story retail building near Lincoln Road in Miami Beach. Azora Exan, a joint venture between Madrid-based Azora and Miami-based Exan Capital, acquired the property at 1000 17th Street for $16 million.

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