PMG, LNDMRK Land $126M for Miami Condo Project
Completion is scheduled for mid-2028.
PMG and LNDMRK Development have secured $126 million in construction financing for Twenty Sixth & 2nd Wynwood Residences, a 233-unit condominium development in Miami. Madison Realty Capital and Siguler Guff provided the loan, while PMG’s Capital Markets team led the negotiations.
The developers broke ground on the project last week and completion is scheduled for the second half of 2028. The property is already 73 percent sold, prices ranging from $500,000 to $1 million.
Designed by CUBE 3, Twenty Sixth & 2nd Wynwood Residences is rising at 2600 NW Second Ave. in Miami’s Wynwood neighborhood, close to the city’s downtown, Midtown and the Design District. Miami Beach and the city’s international airport are both 6 miles away.
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The eight-story building will include studios, junior suites and one-bedroom units with dens. Each residence will include a dedicated office area with conference rooms, lounge spaces and a kitchen.
The property will have a mix of indoor and outdoor amenities focused on wellness, totaling more than 32,000 square feet. They include: The Sky Swim Lounge—a rooftop-level space with a swimming pool, cabanas, landscaping, an outdoor bar and lounge; a glass house for meditation and yoga; a thermal circuit with steam, sauna and cold plunge; an outdoor infrared sauna; and a spa center with private treatment rooms.
Twenty Sixth & 2nd Wynwood Residences will also feature 26,000 square feet ground-floor retail space. ASG Equities, the seller of the development site, will own the building’s retail component while also holding a minority interest in the residential portion of the project.
PMG Director of Capital Markets Andrew Warman, Director Jonathan Blank and Associate Director Paton Marion led the financing negotiations. Lowell Plotkin, Lindsay Davis and Scott Buscemi also assisted as in-house counsel.
Miami condo scene still hot
There are multiple projects currently underway in the metro, as the Miami condo market still shines. One of them is Icon Beach Waterfront Residences, a 350-unit, dual-tower project in Hollywood, Fla., that was recently financed with a $360 million construction loan.
In February, CMC Group and Fort Partners obtained $323.8 million in construction financing for a 70-unit luxury condo development in Coconut Grove, Fla. The project, dubbed Four Seasons Private Residences Coconut Grove, is expected to reach completion by mid-2028.
