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Gindi Family plans major Wynwood retail project after $53 million dollar purchase

In one of Wynwood’s largest deals to date, the Gindis, famous for their ownership of the Century 21 Department Store chain, just paid $53.5 million for a chunk of Wynwood property where they are planning a two-story retail development.

The family, acting through their company ASG Equities, bought the buildings at 2600-2630 Northwest Second Avenue just a block away from the Wynwood Walls, according to the Miami Herald. The properties house 41,616 square feet of space and sit on 42,000 square feet of land, so the sale breaks down to more than $1,200 per foot for the land and for the buildings.

The seller was another company controlled by the Mitrani family, the Herald reported, long-time property owners in the neighborhood who switched gears from manufacturing clothes to curating an art gallery in 2008.

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