Developers have secured $126 million in construction financing and commenced construction on Twenty Sixth & 2nd Wynwood Residences, an eight-story condominium building at 2600 Northwest Second Avenue in Miami’s Wynwood neighborhood. Designed by CUBE 3 with interiors by BAMO and developed by Property Markets Group and Lndmrk Development, the 250,397-square-foot structure will yield 233 residential units, 26,000 square feet of ground-floor retail, and 32,000 square feet of amenity space. John Moriarty & Associates of Florida Inc. is serving as the general contractor. Completion is anticipated in the second quarter of 2028.
The $126 million construction loan was provided by Madison Realty Capital and Siguler Guff. Principals involved in the development include Kevin Maloney, Dan Kaplan, and Ryan Shear of Property Markets Group, along with Alex Karakhanian of Lndmrk Development.
The project also appears in Miami Building Department records under 223 NW 26th Street, which is part of the broader development assemblage. An excavation, piles, site, and soil improvement permit was issued at the end of January, followed by a phased Class I full vertical permit issued on April 9. Building department records list an estimated square footage of 250,397 square feet.
The eight-story building will rise on a 1.2-acre site. Residential units will be delivered fully furnished, and owners will have the option to lease their residences on a short-term basis throughout the year.
The site was assembled by ASG Equities, an affiliate of the Gindi family, for a combined $53.5 million in 2016. Property Markets Group and Lndmrk Development are acquiring the land, while ASG Equities is expected to retain ownership of the retail component and hold a minority stake in the overall development.
Sales have progressed steadily, with approximately 72 percent of the residential inventory under contract. Property Markets Group’s in-house sales team is handling marketing and transactions.
The development site is located directly across from Society Wynwood, a 318-unit co-living project completed by Property Markets Group in 2023. Property Markets Group and Lndmrk Development also launched sales in January for the 244-unit Frida Kahlo Residences elsewhere in Wynwood.
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