Turnberry’s Rock Soffer sells another piece of Wynwood assemblage

Turnberry’s Rock Soffer sold another piece of his Wynwood assemblage as previous mixed-use development plans that included a hotel changed.  

An entity tied to David Ederhy acquired the 14,500-square-foot site at 127 to 135 Northwest 24th Street for $6.5 million. The seller provided $4 million in financing, which matures in September 2028, records show. Dwntwn Realty Advisors’ Tony Arellano and Devlin Marinoff brokered the deal, according to the database Vizzda.

The sale expands the buyer’s assemblage to 0.7 acres, or 28,500 square feet, after a related entity purchased the neighboring 0.3-acre site at 128 to 138 Northwest 25th Street for $8.2 million in March 2025. The combined purchase price is $14.7 million.

Arellano said Ederhy plans to hold both properties long term and is renovating the existing building on the northern parcel, while the southern lot, previously used for parking, now houses an art gallery, with two additional retail spaces in the works. 

Soffer is a member of the family real estate dynasty that includes siblings Jackie Soffer, CEO of Turnberry Associates, and Jeffrey Soffer, CEO of Fontainebleau Development. 

In late 2022, Soffer paid $13.1 million for the properties with plans for a mixed-use hotel project with partner AJC Partners. He decided to sell after plans for the development didn’t pan out because the assemblage wasn’t big enough to make the project work, according to Arellano. 

Soffer was not immediately available for comment. 

Wynwood’s zoning allows a five-story building, or eight-story building with bonuses. Soffer had the ability to build an additional 50 residential units or 100 hotel keys as of right. With bonuses, the developer could’ve built another 75 residential units or 150 hotel rooms. Juan Andres Nava, the broker on the last trade, previously told The Real Deal that a larger site could make the project more economically feasible. 

Wynwood’s high-stakes evolution has pulled in billions of dollars in real estate investment this year, spearheaded by Citadel’s Ken Griffin’s $181 million acquisition of Sterling Bay’s 545wyn with Goldman Properties and $1.1 billion purchase of Mana Wynwood. 

To the west of Soffer’s former assemblage, PMG and Greybrook Realty Partners completed Society Wynwood, a nearly 300-unit apartment building at 2341 Northwest Second Avenue. Adam Neumann’s Flow purchased PMG’s stake in the building this year and rebranded it to Flow Wynwood.

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