Wynwood Site Sold in $6.5 Million Deal
The 14,500-square-foot property on Northwest 24th Street joins a 0.7-acre assemblage for long-term development.
Updated on Oct. 12, 2026 in Commercial
Live Poll
Is now a good time for private investors to purchase and hold commercial property?
Rock Soffer has sold a 14,500-square-foot site in Wynwood to David Ederhy for $6.5 million. The acquisition allows the buyer to expand a 0.7-acre real estate footprint in the neighborhood.
Why it matters
The sale signals a consolidation strategy in Wynwood, as the buyer works to create a larger, more viable development site. A previously planned mixed-use hotel project had stalled because the original parcel size was not economically feasible.
The transaction reached $6.5 million, bringing the total combined cost of the two sites to $14.7 million. It remains unknown how the buyer intends to utilize the full 0.7-acre assemblage following this acquisition.
The players
Rock Soffer
The seller who provided $4 million in financing for the Wynwood transaction.
David Ederhy
The buyer who is assembling a 0.7-acre site for long-term real estate holdings.
Dwntwn Realty Advisors
The brokerage firm represented by Tony Arellano and Devlin Marinoff in this sale.
The details
The site at 127 to 135 Northwest 24th Street was sold by Rock Soffer, who provided $4 million in seller financing that matures in September 2028. Tony Arellano and Devlin Marinoff of Dwntwn Realty Advisors brokered the deal. Ederhy previously acquired a neighboring 0.3-acre site in March 2025 for $8.2 million, and plans to hold both properties long term.
Timeline
Late 2022: Rock Soffer purchased the original properties for $13.1 million.
March 2025: David Ederhy acquired the neighboring site for $8.2 million.
October 2026: The 14,500-square-foot site was officially sold.
September 2028: The seller-provided financing is set to mature.
Beyond the 305
This deal follows the established pattern of property consolidation in Wynwood, where larger footprints are necessary to make modern mixed-use developments financially viable. It repeats a trend seen across the neighborhood where fragmented parcels are bought up to support density.
Neighbors in Wynwood should watch for future development filings at the 24th Street site, as the buyer has confirmed plans to hold the land long term. The consolidation of these parcels marks the end of an earlier hotel project plan that lacked the necessary scale to succeed.
The takeaway
Large-scale development in Wynwood often requires the assembly of multiple smaller lots to become economically feasible. Watch for future site plans for the 0.7-acre property as the buyer moves toward long-term development.
Further reading
For more on how shifting property values affect the neighborhood, check the latest Commercial updates.
Source note: This article includes information reported by The Real Deal New York.
Live Poll
Is now a good time for private investors to purchase and hold commercial property?
