An affiliate of Goldman Properties obtained a $22 million construction loan to fund a mixed-use project in Miami’s booming Wynwood neighborhood.
Miami-based Sabadell United Bank awarded the mortgage to Wynwood DS LLC, an affiliate of Miami Beach-based Goldman Properties, for the 21,250-square-foot site at 360 and 370 N.W. 27th Street plus 2660 N.W. 3rd Ave.
Goldman Properties is one of the main developers that transformed Wynwood from an industrial zone into a district of arts, dining and retail. Now, more residential and office buildings have been proposed.
The property was approved for an eight-story project of 226,054 square feet. Its main use will be a parking garage with 428 spaces, to provide more parking options to visitors to Wynwood. The building was also approved for 23,618 square feet of office and 20,594 square feet of retail and restaurant space.
Joseph Furst, who heads Wynwood development for Goldman Properties, said the Wynwood DS will break ground with a ceremony on May 3 and should be completed in October 2018. It has started leasing efforts.
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