Earlier this year, the Miami City Commission approved a major zoning overhaul for the portion of Wynwood lying north of NW 29th Street the newly dubbed Wynwood Norte. Given its.
Asi Cymbal and 3466 North Miami Avenue (Google Maps)
A development site with a fully leased retail-office building in Miami’s newly anointed Wynwood Norte district hit the market for $24.5 million.
An investment partnership led by Cymbal Development is selling the 1.4 acres at 3452 and 3466 North Miami Avenue, 20 and 34 Northwest 35th Street, and 28 and 29 Northwest 34th Terrace, according to a release. Property records show the lots were assembled in 2002 and 2003 for $1.9 million.
Real estate developer and financier Cymbal Development, led by Asi Cymbal, is headquartered at the property and will keep its base there once a deal closes, according to listing agent Jeff Cohen of Brown Harris Stevens.
The Miami City Commission last week unanimously approved the Wynwood Norte Neighborhood Revitalization District. (Rendering via Plusurbia)
UPDATED, April 2, 2:10 p.m.: A city of Miami zoning overhaul of a traditionally single-family neighborhood just north of Wynwood is largely aimed at enticing affordable housing development in the area.
The Miami City Commission last week unanimously approved the Wynwood Norte Neighborhood Revitalization District, a zoning overlay that proponents claim will protect the community’s unique character, improve the area’s housing stock and create economic opportunities for small businesses and local residents.
Yoni Bornstein, president of the Wynwood Community Enhancement Association, said the goal of the new district is to improve the quality of life in the neighborhood at a time that out-of-town developers are planning and building new mixed-use projects. The overlay covers 140 acres bounded by Northeast and Northwest 29th Street and 36th Stree
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