As tech companies and financial institutions flock to the graffiti-soaked streets of the Wynwood Arts District, Miami’s cultural and creative capital is swiftly becoming the city’s tech epicenter — and that’s having a profound impact on luxury residential sales, including several record-breaking transactions.
The former warehouse district turned canvas for contemporary street art is now home to some of the country’s most innovative companies, including Spotify, Live Nation, PwC and venture capital firms Founders Fund and Atomic — all of which recently opened offices in Wynwood.
“Wynwood is the destination of choice for relocating tech and finance firms and their respective talent, many of whom are looking to put down roots in Miami,” said Nick Pérez, Senior Vice President for real estate powerhouse, Related Group. “It’s undoubtedly become one of the most sought-after neighborhoods in what is already a white-hot residential real estate market.”
As a neighborhood pioneer, Related was the first residential developer to enter Wynwood, delivering the neighborhood’s first newly-built residential property, Wynwood 25. With its 2019 opening, Related kicked off a wave of development that has since transformed the area into one of the hottest residential markets in the country. Related alone has a total portfolio, including units completed and under development, of more than 1,250 luxury rental apartments in Wynwood, with practically zero vacancies.
Now, the developer is betting big on the future of Wynwood’s luxury condominium market. Earlier this year, Related, in partnership with New York-based developer Tricap, introduced the NoMad Residences Wynwood, the first hospitality-infused condominium in the area. As the first residential concept from the global hospitality icon, NoMad Hotels, the property is seeing significant demand from buyers. In fact, the developer reports having signed contracts on more than 50% of the homes, including a unit at roughly $2,000 per square foot, shattering neighborhood price records.
“Many in the industry thought we had lost touch when they saw how much we were investing in the area,” adds Pérez. “Fortunately, our bet paid off big and today we’re the single most active developer in the area. Much like we did with our rental projects, we hope to set an example that other condo developers can follow. Not only are we delivering a high-quality product that buyers can be proud to call home, but doing so in a way that is authentic to Wynwood.”
Designed in collaboration with globally-renowned partners DesignAgency and Arquitectonica, the nine-story NoMad Residences Wynwood offers 329 turnkey condominium homes. Layouts range from studios to two bedrooms, each featuring floor-to-ceiling windows and private balconies. All units will come fully furnished, with packages thoughtfully curated by DesignAgency.
Developed with no rental restrictions, buyers will also have the option to rent their units to guests for any length of time. An expert in-house property management team will spearhead check-in and check-out and assist unit owners with the overall process.
Surrounding the property is a vibrant, walkable community that boasts over 70 art galleries, luxury boutiques, seven Michelin-star and many five-star restaurants, and the world-famous Wynwood Walls. Much like how NoMad New York helped transform Manhattan’s North of Madison enclave into one of the city’s most in-demand neighborhoods, Related and NoMad anticipate this new property will contribute to Wynwood’s impending growth.
At the heart of this promise is the property’s best-in-class food and beverage offerings, which will be open to the public and include a signature rooftop restaurant and mixology bar concept, The NoMad Bar. The restaurant will be helmed by James Beard Award Winner Leo Robitschek, VP of Food and Beverage at Sydell Group and the former Bar Director for New York City’s three-Michelin Star restaurant Eleven Madison Park. On NoMad Wynwood’s ground floor, residents and the community will be able to enjoy a Casa Tua Cucina, an expansive open-kitchen concept offering simple, yet expertly crafted Italian and Mediterranean fare.
In addition to the showstopping eatery and bar, the development offers a full suite of resort-style amenities, including an expansive rooftop lounge with striking panoramic views of downtown Miami, a fully serviced pool and sun deck, private cabanas, and a state-of-the-art indoor and outdoor fitness lounge. The signature NoMad Library and Lounge, located on the ninth floor, will serve as a secondary resident hub, featuring NoMad-curated experiences and events, ample shared workspaces, and more.
Additional on-site highlights include an outdoor theater with a seating lawn and grilling area, 24/7 valet service, and museum-quality art handpicked from the Jorge M. Pérez Collection.
NoMad Residences Wynwood has achieved several important construction milestones, including the application for permits after the building’s plans were approved by the Urban Development Review Board. The sales team has also begun converting reservations to contracts.
Pricing for NoMad Wynwood’s available units begins at $600,000. For more information or to arrange a private tour of the sales gallery, please visit nomadwynwood.com or call (786) 437-3355.
