Gridline Properties Represents Buyer Rilea Group in Closing of 31–37 NE 28th St. in Miami for $5.7 M
Gridline Properties, a full-service commercial real estate brokerage firm based in Miami, represented buyer and real estate development and management company Rilea Group / Alan and Diego Ojeda in the Feb. 10 closing of the 12,250-square-foot lot at 31–37 NE 28th St., Miami, FL 33137in the Wynwood area for $5.7 million.
The purchase completes Rilea Group’s total assemblage for its proposed Mohawk at Wynwood and The Rider at Wynwood luxury apartment and retail developments, totaling 2.5 acres ― nearly an entire block at NW 29th St. and the Florida East Coast Railway line.
For the off-market 31–37 NE 28th St. transaction, Gridline Properties’ Broker and Principal Alfredo Riascosrepresented Rilea Group / Alan and Diego Ojeda. Alfonso Jaramillo of Fortune International Realty represented the seller, Jamison Properties / Michael Wolk.
In June 2021, Alfredo Riascos of Gridline Properties represented buyer Rilea Group / Alan & Diego Ojeda and seller David Lombardi in Rilea Group’s $22 million acquisition of the adjacent 65,700-square-foot site at 56 NE 29th St., Miami, FL 33137, also part of the Mohawk at Wynwood assemblage.
In addition, in October 2021, Gridline Properties represented the Rilea Group / Alan & Diego Ojeda in its purchase of the adjacent 31,358-square-foot property at 100 NE 29th St., Miami, FL 33137 for $12.25 million, slated for The Rider at Wynwood site. Riascos represented the buyer. The seller was Jeffrey Miller.
Rilea Group’s Mohawk at Wynwood project, a total 78,000-square foot assemblage, is planned to be a luxury 12-story building featuring 260 residential units (including 20 New York-style, two-story lofts), 31,000 square feet of ground floor retail, 1,500 square feet of private offices for residents, and chic amenities.
Rilea Group’s adjacent The Rider at Wynwood project is planned to have 131 apartment-hotel luxury units for short-term rentals, 6,500 square feet of ground floor retail, a rooftop pool for residents, and a speakeasy-concept rooftop bar in a 12-story building.
Both buildings’ architecture will feature a punk rock theme and Chicago-brick facades coupled with aged metal accents throughout. Rilea Group plans to submit plans to the City for Mohawk at Wynwood and The Rider at Wynwood later in 2023.
Over the past 10 years, Wynwood has experienced significant growth, as have its property values. It continues to emerge as one of South Florida’s hottest, upcoming areas for new residential and office developments.
“We are pleased to continue to represent buyers and sellers in transactions in booming Wynwood and other areas throughout South Florida,” said Riascos. “Representing Rilea Group to purchase properties to develop its exciting, proposed Mohawk at Wynwood and The Rider at Wynwood, located at the border of the Midtown and Wynwood neighborhoods, is an example of how Gridline Properties is helping the area to continue to grow.”
More on Gridline Properties
Founded in 2018, Gridline Properties is a full-service commercial real estate brokerage firm based in Miami’s urban core. The firm specializes in brokerage services that include landlord and tenant representation, strategic real estate planning, investment sales, and dispositions. Under the leadership of Principal and Broker Alfredo Riascos, Partner Mateo Romero, and a team of experienced agents, Gridline Properties strives to be a market leader in the industry and a dependable resource to its clients and shareholders.
In recent years, Gridline Properties has proven to be a leader in its industry by successfully brokering a notable portfolio of transactions in some of Miami's most exciting submarkets, such as Wynwood, Midtown, Allapattah, Little River, and Miami's Upper East Side.