Goldman Properties to Build Class A Office Building in Miami’s Wynwood
The real estate company that put Wynwood on the map is back, with plans to leave its mark on the Miami neighborhood.
Goldman Properties unveiled plans for Core Wynwood, a Class A office building located at 390 NW 25th Street. The property is slated to open in 2024 with construction commencing this December.
The 140,000-square-foot development will include 115,000 square feet of office space, with 19,000 square feet dedicated to flexible floor plates, as well as 9,000 square feet for a commercial lease on the ground floor.
The firm hopes the nine-story building will become the crown jewel of Wynwood offices.
“Our goal was to design a building where tenants would say, ‘Wow. Goldman Properties thought of everything,” Scott Srebnick, CEO of Goldman Properties, said in a statement, having tapped Perkins&Will’s Pat Bosch as the project’s lead architect.
Goldman Properties has not yet sought out financing to fund the construction, a spokesperson told Commercial Observer.
The proposal comes as a slew of companies have moved into Wynwood, following the 10-year office deals of venture capital firms Founders Fund and Atomic nearly a year ago. More companies are touring the market, including SoftBank, which is in advanced lease negotiations for 53,200 square feet at another development, Wynwood Plaza.
Goldman Properties — founded by the late Tony Goldman, who helped revitalize New York’s SoHo neighborhood in the 1980s — is also credited as a Wynwood pioneer. In 2009, he launched the “Wynwood Walls,” a murals exhibition. It transformed Wynwood from a district packed with dilapidated warehouses into one of Miami’s hottest neighborhoods, renowned for its art and retail scene.
For the Core building, Goldman had assembled the 28,200-square-foot site in 2003 from several parcels, paying $1.3 million, according to property records.
Paying homage to the firm’s roots, the property will feature 30,000 square feet of murals, curated by Jessica Goldman Srebnick, Tony Goldman’s daughter.
Beyond the Wynwood Walls, the firm has revamped and created a number of properties across the district. Most notably is the Wynwood Garage, a mixed-used building where WeWork occupies 30,000 feet and nightlife mogul David Grutman will open an outpost.
Correction: Goldman Properties did not purchase a 4,600-square-foot parcel for $11.8 million as previously reported. The article was also updated to include the fact that the developer has not yet secured construction financing
Julia Echikson can be reached at Jechikson@commercialobserver.com.