LIVWRK, a Brooklyn-based development firm managed by founder and CEO Asher Abehsera, is under an agreement to buy a 2.5-acre assemblage in Wynwood.
East End Capital is selling the properties at 2400 and 2500 North Miami Avenue in Miami. LIVWRK will partner with the neighboring business owner at 48 Northwest 25th Street.
Abehsera confirmed that the deal is under contract. As per the source, the price is nearly $25 million, and the sale is about to close in about a month and a half.
Abehsera said his company is surveying architects from around the world to do something that is more dignified from a design viewpoint than what has done built-in Wynwood such far.
Abehsera also stated that the assemblage could be progressed into more than 650,000 SF with a mix of household, retail, hotel or productive office.
In Brooklyn’s Dumbo neighborhood, LIVWRK and CIM Group are in contract to sell the rental portion of their luxury development at 85 Jay Street to RXR Realty for $220 million.