Fisher Brothers Secures $118 Million Loan for Wynwood Project
Fisher Brothers Management can begin construction of an eight-story multifamily project in Wynwood after securing a $117.5 million loan.
An affiliate of Los Angeles-based Canyon Partners provided the construction financing for Wynwhouse, a proposed development with 312 apartments, 27,500 square feet of restaurant and retail space and 120 parking spaces, records show. The 1.5-acre development site is the former Miami Rescue Mission headquarters at 2201, 2229 and 2159 Northwest First Court, and 2200 and 2250 Northwest First Avenue.
Designed by Miami-based Nichols Brosch Wurst Wolfe & Associates, Wynhouse would feature an interior courtyard and a T-shape pedestrian paseo lined with retail spaces.
In 2021, New York-based Fisher Brothers paid $18.6 million for the site, records show.
Founded in 1915 by Martin Fisher, the family-owned real estate development and investment firm is now led by Arnold, Kenneth and Winston Fisher, according to the firm’s website. The company’s portfolio includes Station House, a three-building office complex in Washington D.C., and five condominium projects in New York, including Chartwell House in Manhattan. In May, senior partner Steven Fisher passed away following complications from a medical procedure.
Wynwood remains one of the hottest neighborhoods for new development in Miami. Last month, the Miami Urban Design Review Board approved a new project by Clearline Real Estate, led by former Kushner exec Jenny Bernall. Clearline got the go ahead to build 2000 North Wynwood, a 12-story mixed-use project at 2000 and 2010 North Miami Avenue. The development will have 310 dwelling units, 9,909 square feet of ground floor retail and 311 parking spaces.
Moishe Mana, Wynwood’s largest landowner, unveiled plans back in May for a $20 million-plus redevelopment of the neighborhood’s former RC Cola Plant. The project will entail an indoor food hall with nine tenants, a bar spanning 100 feet on two sides, outdoor space for food trucks, a beer garden, retail, event space, and 10,000 square feet of parks and gardens at 550 Northwest 24th Street.
