Firm’s David Lerner brokers neighborhood’s largest transaction involving a fashion retailer on prominent intersection of Northwest 26th Street and Third Avenue

DWNTWN Realty Advisors continues to broker market-making milestone transactions in Miami’s urban core neighborhoods. In the latest example, the firm’s David Lerner represented both sides of a record-setting Wynwood retail lease with Pharrell Williams’s popular fashion line Billionaire Boys Club.

Billionaire Boys Club (BBC) is leasing 5,700 square feet at 2545 NW Third Ave., across from Zak the Baker, Walt Grace Vintage and the Wynwood Garage. The landmark transaction further cements the intersection of Northwest 26th Street and Third Avenue as Wynwood’s focal point.

The retail space leased by BBC will merchandise urban street fashion from the parent label, affiliated brand Icecream and other iconic brands including Adidas, CDG Play, Human Made, Medicom, Neighborhood and Wtaps. The building was previously home to a wholesale shoe company for 20 years.

“To date, BBC is the largest fashion tenant to commit to Wynwood, and it did so during a pandemic,” DWNTWN Co-Founder Tony Arellano said. “This highlights Wynwood as an experimental retail and entertainment district on the upswing. Wynwood is now, more than ever, vibrant and fresh.”

Lerner Family Properties, led by brother and sister duo Irving and Esther Lerner, owns the building. The family has owned real estate in Wynwood since the 1960s and is a strong supporter of the neighborhood’s artistic and creative community.

The 14,903-square-foot building is set to be transformed through an adaptive re-use project with hand-picked artists creating murals on intertwining art panels and canvases to stay true to Wynwood’s artistic spirit and character. It will be divided into three individual units, with BBC as the project’s signature tenant.

In 2003, Williams teamed up with fashion designer and A Bathing Ape creator Nigo and Japanese graphic designer Sk8thing to launch BBC.

“I am pleased to have found a tenant that adds to the fabric of Wynwood,” Lerner said. “Garments, fashion and shoes remain true to Wynwood’s historic identity. I am happy to update the corner and merge the neighborhood’s past with the future in a way that comes full circle.”

DWNTWN is Wynwood’s most prolific brokerage, generating a significant amount of investment sales and leasing transactions in the neighborhood.

For instance, in September 2019 Arellano and firm Co-Founder Devlin Marinoff closed the $32 million sale of the future site of The Dorsey mixed-use development, setting a record for the largest contiguous site to trade in the neighborhood. That same month, Arellano and Marinoff brokered Wynwood’s first hotel project, the planned Moxy at Marriott to be operated by nightlife guru David Grutman’s Groot Hospitality.

Over the course of his career, Arellano has completed more than 250 leases in Wynwood and played a pivotal role in the neighborhood’s evolution from an overlooked, largely neglected collection of old industrial buildings into a vibrant hub for arts and culture, retail, restaurants and nightlife.

About DWNTWN Realty Advisors

Founded by seasoned real estate professionals Devlin Marinoff and Tony Arellano, DWNTWN Realty Advisors is a leading commercial real estate brokerage based in Miami. The firm’s brokers have an unparalleled depth of knowledge about the urban core neighborhoods and other markets they serve. DWNTWN operates with a unique territory-based approach, as each broker brings a specific product and market specialty to the firm. With 50-plus years of combined experience and more than 500 completed deals totaling more than $2 billion in transactional volume, DWNTWN brings institutional quality advisory services to middle-market clients. The firm focuses on transactions ranging from $3 million to $20 million, with a data-driven approach to generating optimal solutions for clients. For more information, visit www.dwntwnrealtyadvisors.com.