Colliers’ Urban Core Division Hits the Market with Iconic Wynwood Listing
The Castle highlights the unique vibrance of the neighborhood
Miami, June 11, 2018 – As the Wynwood Arts District continues to evolve into a robust, round-the-clock community, the Urban Core Division of Colliers International South Florida has brought to market ‘The Castle,’ an iconic 5,000 square foot retail and event space nestled on a 15,000 square foot site on the gateway to Miami’s arts district. Located at 41 NW 20th Street, the site is zoned T6-8 and will allow for 96,000 square feet of development ideally-located at a central point in the path of Miami’s urban growth.
"This iconic property’s position at the gateway to Wynwood make this site a creative canvas for adaptive re-use," said Colliers International South Florida Executive Vice President Mika Mattingly, who is representing the listing along with Cecilia Estevez. "With all asset types in-demand as the neighborhood accelerates its growth, any future buyer is uniquely positioned to leverage the zoning and create a piece of the future of Wynwood."
In 2015, the City of Miami approved a new zoning plan for the neighborhood, which expanded approved uses for the area and accelerated the transformation of an area that was once best known for its vacant warehouses and gritty sidewalks. The Wynwood Neighborhood Revitalization District-1 (NRD-1) allows for up to eight stories with an additional four-story option in exchange for public benefit in some areas as well as warehouse preservation incentives.
More than 20 developments surrounding the site have been announced, including the highly-anticipated Wynwood 25, Mana District and Wynwood. Since 2009, when Tony Goldman and Goldman Properties opened the Wynwood Walls, tens of thousands of visitors have flooded Wynwood’s graffiti-lined streets every month. In 2017, Greater Downtown Miami reached a record number of 15.8 million visitors.
The distinctive architecture of The Castle helped established it as Miami landmark decades ago. It was further propelled to popularity in recent years after serving as the location of the inaugural Basel Castle, an annual art and music festival held during Art Basel Week.
"Increased connectivity and live, work, play experiences are driving the revitization of this neighborhood," added Mattingly. "The Castle will benefit from the planned developments and nearby Brightline station that will boost the continuous flow of visitors, residents, and employees in this area."
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For further information, please contact:
Paola Iuspa-Abbott on behalf of Colliers International South Florida
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