Rock Soffer Sold Wynwood Site for $6.5 Million
The property at 127 to 135 Northwest 24th Street adds to a growing real estate assemblage in the Miami neighborhood.
Updated on Oct. 12, 2026 in Commercial
Live Poll
Is now a good time for private investors to purchase and hold commercial property?
Rock Soffer has sold a 14,500-square-foot site in Miami's Wynwood neighborhood for $6.5 million. The transaction was facilitated to help the buyer expand a larger 0.7-acre real estate assemblage.
Why it matters
The sale follows the realization that a previously proposed mixed-use hotel project lacked the necessary site scale to be economically viable. The expansion allows for a larger footprint for potential future development in the area.
The transaction includes $4 million in seller-provided financing maturing in September 2028. This follows the buyer's March 2025 purchase of a neighboring 0.3-acre site for $8.2 million, bringing the total combined cost for both sites to $14.7 million.
The players
Rock Soffer
A real estate investor and the seller of the Wynwood property site.
David Ederhy
A real estate investor who acquired the property to expand his current holdings.
Dwntwn Realty Advisors
A commercial real estate brokerage firm that managed the transaction.
The details
Tony Arellano and Devlin Marinoff of Dwntwn Realty Advisors brokered the deal for the site located at 127 to 135 Northwest 24th Street. The buyer intends to maintain ownership of both this site and the neighboring 0.3-acre property on Northwest 25th Street as a long-term hold.
Timeline
Rock Soffer purchased the properties for $13.1 million in late 2022.
The buyer acquired a neighboring 0.3-acre site for $8.2 million in March 2025.
The 14,500-square-foot site was sold on October 12, 2026.
Seller-provided financing for the transaction matures in September 2028.
Culture Shift
This acquisition follows the pattern of consolidating smaller parcels in Wynwood to overcome site size limitations for large-scale projects. The shift reflects the broader trend of developers aggregating land to create viable footprints in a neighborhood where space is at a premium.
The consolidation of these two sites suggests potential upcoming development activity in the immediate vicinity of 24th and 25th Streets. Residents and local business owners may see changes in the site use as the owner shifts toward long-term land management.
The takeaway
Large-scale urban development often requires patient capital and the assembly of multiple smaller parcels to achieve economic feasibility. Investors seeking to follow this strategy must account for long-term financing costs and potential shifts in project viability over time.
Further reading
For more on local market trends, visit the Miami Commercial section.
Source note: This article includes information reported by The Real Deal New York.
Live Poll
Is now a good time for private investors to purchase and hold commercial property?
