WRE News: Record-Breaking $1.19M Retail Sale at The Rider Residences Marks Wynwood’s Next Evolution

Miami, FL – December 20, 2024 – Miami developers Rilea Group and Ciprés have sold a 702-square-foot retail space at their upcoming luxury condominium, The Rider Residences, for $1.19 million—a record-breaking $1,700 per square foot for the Wynwood and Midtown areas.

Purchased by Sunkan LLC, the retail space will house OPTIUSA, a luxury eyewear brand, and marks a milestone in the evolution of Wynwood as a hub for innovative businesses. The Rider, a 12-story, 146-unit project featuring fully furnished condos priced between $400,000 and $1.8 million, is set to break ground in early 2025 with completion expected in late 2026.

Designed by Deforma Studio with interiors by RADYCA Design, the development will also benefit from its proximity to a new high-speed rail station connecting Wynwood to South Florida’s key destinations.

Rilea Group President Diego Ojeda emphasized the significance of the sale as a step forward for Wynwood’s growth, while OPTIUSA owner Alejandro Kacheroff expressed excitement about joining the vibrant community.

The development is part of a broader vision by Rilea Group and Ciprés, who are also working on adjacent projects, including Mohawk at Wynwood, to further enhance the area’s appeal as a dynamic, interconnected neighborhood blending culture, commerce, and creativity.

Written by Raquel Martinez