233 Furnished Units on Second Avenue
Property Markets Group and Lndmrk Development have started construction on a 233-residence condominium at 2600 Northwest Second Avenue in Wynwood. Florida YIMBY reported the start and the financing on 2 May 2026. The building will rise eight stories on a 1.2-acre site.
The published programme runs to 250,397 square feet. Ground-floor retail takes 26,000 square feet, amenity space takes 32,000 square feet, and the balance is residential. CUBE 3 is the architect, BAMO handles interiors, and John Moriarty & Associates of Florida Inc. is the general contractor. Completion is targeted for the second quarter of 2028.
Two lines in the report matter to anyone counting transient rooms in Wynwood. The residences will be delivered fully furnished. Owners will hold the option to lease them short-term throughout the year.
The Leasing Clause and the Nightly Market
The clause puts 233 furnished units into the nightly market. The report states no minimum stay, no annual cap on rented nights, no licensing condition and no rental-management arrangement. It names no operator for owner rentals.
The arithmetic is the operator's starting point. Two hundred thirty-three units against 250,397 square feet gives roughly 1,075 square feet per residence. The 32,000 square feet of amenity space works out at about 137 square feet a unit, and the retail podium at about 112.
A short-term unit competes for the same guest night as a hotel room. The building carries no hotel brand and no published rate. A hotel pricing Wynwood against it is pricing against 233 furnished apartments that a guest can book direct from an owner.
The Money Behind the Concrete
Madison Realty Capital and Siguler Guff provided the $126 million construction loan. That figure divides to about $540,800 a residence. The report names the principals on the development side: Kevin Maloney, Dan Kaplan and Ryan Shear of Property Markets Group, and Alex Karakhanian of Lndmrk Development.
City records track the job under 223 NW 26th Street, part of the wider assemblage. An excavation, piles, site and soil improvement permit was issued at the end of January. A phased Class I full vertical permit followed on 9 April. The building department lists an estimated 250,397 square feet, which matches the report.
Seventy-Two Percent Under Contract
About 72 percent of the residential inventory sits under contract. Property Markets Group's in-house sales team runs marketing and transactions. The same developers launched sales in January for the 244-unit Frida Kahlo Residences elsewhere in Wynwood, per the same report.
The report does not split the buyer pool between investors and second-home owners.
The Block Across the Street
Society Wynwood stands directly across from the site. Property Markets Group completed that 318-unit co-living project in 2023. The two buildings put 551 units on the immediate block, by simple addition.
The report describes no shared operation between them. The pair establishes one developer with two residential products on one stretch of Second Avenue.
The Land and the Retail Podium
ASG Equities, an affiliate of the Gindi family, assembled the site for a combined $53.5 million in 2016. That works out at about $44.6 million an acre. Property Markets Group and Lndmrk Development are acquiring the land now. ASG Equities is expected to keep ownership of the retail component and hold a minority stake in the overall development.
The retail line is 26,000 square feet at ground level. The report names no tenant, no lease term and no completion date for the retail space. For a hotel selling walkable dining and nightlife, the podium is the part of the building that changes the street. For an operator underwriting rate, it stays an unfilled line.
What the Record Leaves Open
The report carries no hotel component, no branded residences and no serviced-apartment programme. It gives no nightly rate and no completion date beyond the second-quarter 2028 target.
Three numbers frame the supply read. Two hundred thirty-three furnished residences. A 2028 delivery. A $126 million loan already drawn against them. An operator tracking Wynwood transient inventory can hold those three and wait for the rental terms to surface in a filing or a management contract.