Greybrook Realty Partners Inc. announced today the successful closing of an equity investment by its managed issuer of US$15,465,000 to acquire and oversee the development of a prime parcel of land in Miami, Florida. Together with its developer partner, PMG, the firm intends to develop the land located at 2407 NW 2nd Avenue into a mixed-use multi-family residential building. This project is an expansion of an existing project with PMG on the adjacent parcel of land located along NW 2nd Avenue and NW 25th Street, which was acquired in 2019 and is currently under development. Part of Society Living, a national platform of thoughtfully designed social communities, the expanded project is expected to yield over 280 rental units and more than 50,000 square feet of retail.
The site, occupying the Northeast corner of NW 24th Street and NW 2nd Avenue, is situated in the heart of Miami’s dynamic Wynwood neighbourhood. Centrally located within the flourishing urban art district, the development site offers convenient access to an abundance of lifestyle amenities as well as a growing number of tech and creative enterprises. The expanded development site will now span a full block along NW 2nd Avenue, the major retail and entertainment thoroughfare in Wynwood. In addition to a premium location, the eight-storey multi-family community will offer a growing urban renter population the opportunity to access attainably priced housing options, extensive social amenities and a tech-enabled lifestyle.
“This acquisition enables us to not only expand our mixed-use multi-family development along a full block at the epicentre of Wynwood, it also allows us to unlock additional value, improve the building design and attract high-quality retail tenants to our prime location along NW 2nd Avenue,” stated Sami Mouaket, Senior Vice President, Institutional Capital Markets, Greybrook Realty Partners. “Our Society Wynwood community will be a fantastic addition to one of the most sought-after neighbourhoods in Miami and a great example of the types of first-class locations we look for as we actively evaluate new urban markets across the U.S. for our next Society Living community with PMG”.
Society Wynwood is Greybrook’s third project with developer partner PMG featuring a Society Living community. Together with the Society Las Olas development in Fort Lauderdale and the Society Biscayne development in downtown Miami, Greybrook continues to expand its portfolio of U.S. multi-family assets, which includes the development of over 2,100 traditional and co-living rental units across Southern Florida.
Across our portfolio, we completed over 1,600 home closings last year both in Ontario and South Florida, with the momentum continuing into 2024 with over 1,700 homes set to occupy and close throughout the year. Whether it is a single-family…
Our 49-storey luxury condominium with developer partner PMG continues to garner interest from both local and international buyers eager to leverage its appealing hotel-condominium program, which commenced operation last summer. Since its late 2022 launch, the downtown Miami hotel and…
The townhome development has added 114 units to the highly sought-after community of Thornhill. The expanding suburb is in the rapidly growing City of Vaughan which welcomed the largest number of new residents in the York Region during the most…
Complete with popcorn and concessional snacks, this year’s internal event was an opportunity for the Greybrook team to reflect on the achievements and milestones we have accomplished together while looking forward to the year ahead and beyond.Over the past year,…
With the construction of all homes in our Kingsview Ridge community complete, home occupancies continue as we welcome the remaining homeowners to their new homes in this low-rise community. Developed in partnership with Treasure Hill, Kingsview Ridge has brought 305…
In celebration of International Women’s Day 2024, Greybrook hosted a virtual fireside conversation on Thursday, March 7th joined by guest speaker, Manica Blain who shared her career and entrepreneurial journey—and how the power of having a clear vision and forging…
We are committed to enhancing our corporate capabilities to support the success of our growing portfolio of investments and to deliver an exceptional experience for our growing base of individual and institutional clients. In line with this commitment, we’re pleased…
With construction of our Colgan Crossing community progressing rapidly over the past year, we were very pleased to begin home occupancies and welcome the first homeowners to their new homes in this brand-new community in late 2023. Our 191-acre master-planned…
In a groundbreaking announcement last month, it was revealed that Amazon MGM Studios will assume the exclusive lease for Pinewood Toronto Studios situated in the heart of the city. This multi-year commitment grants Amazon MGM Studios control over five expansive…
We invite you to watch a video walkthrough of our Lindsay Heights project, with developer partner Tribute Communities. Take a stroll through our meticulously designed 36′ and 20′ homes and catch a glimpse into the distinctive features and contemporary charm…
