Retail Space Sells for $2.4M at The Rider Residences in Miami’s Midtown-Wynwood Corridor

Miami-based developers Rilea Group and Ciprés have closed on a $2.4 million sale for a 1,704-square-foot retail space at The Rider Residences, a 12-story, 146-unit condominium designed by Deforma Studio planned at 94 NE 29th Street at the intersection of Midtown and Wynwood. The sale price equates to $407 per square foot, marking the second-highest retail sale price per square foot in the area, following The Rider’s own $1.19 million sale of a 702-square-foot space at $1,700 per square foot—a record for the neighborhood.

The Rider Wynwood. Credit: Rilea Group.

The transaction highlights continued demand for commercial space in the rapidly expanding Midtown-Wynwood corridor, further driven by Amazon’s upcoming expansion into Wynwood. The Rider Residences is positioned to benefit from the area’s increasing appeal, offering no rental restrictions and connectivity to Miami’s transit network, with a planned metro stop nearby and proximity to I-95. Residents will be within walking distance of restaurants, retail, and entertainment venues.

The Rider Wynwood. Credit: Rilea Group.

The development will feature a mix of fully furnished studio to three-bedroom residences designed to combine style, functionality, and smart home technology. The project’s amenities will cater to diverse buyers seeking flexibility in ownership and rental options.

According to the Wynwood Business Improvement District, Wynwood continues to attract major businesses and investment, with 15 million annual visitors. Once an industrial warehouse district, the neighborhood has transformed into a hub for art, dining, retail, and technology, attracting entrepreneurs and established corporations. With additional retail and office leases being signed, the area remains one of Miami’s most active real estate markets.

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