PMG and LNDMRK Development broke ground on Twenty Sixth & 2nd Wynwood Residences on May 4, 2026 after closing a $126 million construction loan from Madison Realty Capital and Siguler Guff, per the developer's official release. I am watching this project because it is the first Miami condo to pair 122 deeded office suites with Airbnb hosting rights 365 days a year inside a single tower. Wynwood buyers who want investor flexibility plus owner-occupier upside should evaluate the remaining 27 percent of inventory before the next pricing tier locks in. For the broader pre-construction context, see my Miami pre-construction buyer guide.
PMG and LNDMRK Development closed $126 million in construction financing for Twenty Sixth & 2nd Wynwood Residences and broke ground at 2600 NW 2nd Avenue on May 4, 2026, per the PROFILEmiami release and the developer's official portfolio page. The 8-story project from architect CUBE 3 delivers 233 fully finished and furnished residences with pricing reported between roughly $500,000 and $1 million. Two structural details set this development apart from anything else under construction in Miami right now. First, 122 of the 233 residences include deeded, fully equipped office suites attached to the unit. Second, owners are permitted to host on Airbnb 365 days per year inside the building. The project is 73 percent sold according to the developer, with delivery targeted for the second quarter of 2028. Pair this read with my Miami new developments index and the broader Miami pre-construction buyer's guide.
The Deal Mechanics: $126M Loan, Two Capital Partners, May 4 Groundbreaking
The financing stack for Twenty Sixth & 2nd Wynwood is the cleanest read on how senior lenders view boutique Wynwood pre-construction right now. The $126 million senior construction loan came from Madison Realty Capital, a Manhattan-based real estate credit firm with a long Miami pre-construction track record, with co-participation from Siguler Guff, a private investment firm. Both lenders signed on after the project had already cleared 73 percent of its sellout, which materially lowers the construction-completion risk on the loan and is the underwriting condition that unlocks Madison's pricing tier. For a fuller picture of how Miami construction-loan stacks operate, see my Miami construction-loan and groundbreaking buyer checklist.
The PMG and LNDMRK partnership matters as much as the lender selection. PMG (Property Markets Group) is one of South Florida's most active developers, with prior Wynwood and Brickell deliveries in the cycle, and Ryan Shear is the managing partner driving the firm's Miami strategy. LNDMRK Development, led by Alex Karakhanian, has been the most concentrated Wynwood-specific developer of the past five years and brings local entitlement experience and neighborhood retail relationships to the structure. The combination of a citywide brand operator (PMG) plus a neighborhood specialist (LNDMRK) is the playbook that produced the strongest absorption pace among 2026 Wynwood launches.
What Makes the Condo-Office-Airbnb Structure Different
Two structural details inside the Twenty Sixth & 2nd offering plan separate this project from every other Miami pre-construction tower currently in lease-up or marketing:
- Deeded office suites: 122 of the 233 residences include a deeded, fully equipped office suite that conveys with the unit on a single deed. Owners get a residence plus a dedicated workspace inside the building, which is the first arrangement of its kind in Miami.
- Airbnb 365 days a year: The condo declaration permits owners to host on Airbnb every day of the year. Most Miami luxury buildings cap short-term rentals at zero, four, or twelve times per year, which materially blocks investor exit strategies. Twenty Sixth & 2nd removes that ceiling at the building-document level.
- Fully finished and furnished delivery: Residences are delivered turnkey, which compresses the time from closing to first night on the Airbnb platform. For investor buyers, that is a roughly 90 to 120 day cash-flow advantage versus a shell delivery.
- 32,000+ sq ft of amenities: The project includes a rooftop pool, a thermal circuit with steam, sauna and cold plunge, yoga gardens, a glass-house meditation studio, co-working spaces, a fitness studio, a social clubroom, and a 24/7 concierge. The wellness positioning targets remote-work owner-occupiers who want a residence that doubles as a workspace.
- Pricing tier: $500K to roughly $1 million across studios and one-bedroom-with-den layouts, which is materially below Brickell, Edgewater, and Sunny Isles pre-construction pricing for comparable square footage.
I read the structure as engineered for two buyer personas at the same time: the owner-occupier who wants Wynwood as a primary or secondary residence with a built-in workspace, and the investor who wants a fully furnished unit producing nightly rental cash flow with no building-level restrictions. Most Miami pre-construction projects pick one of those buyers; this offering plan picks both, which is part of why the absorption hit 73 percent before the groundbreaking event.
Wynwood vs. Brickell, Edgewater, and Sunny Isles: A Different Buyer Math
The Wynwood entry point is what most differentiates Twenty Sixth & 2nd from the supertall and ultra-luxury pre-construction projects on the East side of Biscayne Bay. Brickell's most prominent 2026 launches, including Cipriani Residences Miami and the Foster + Partners-designed 619 Brickell, start in the $1.5 million range and crest above $20 million for penthouses. Edgewater's Anantara, Edition, and other branded towers occupy a similar pricing band. Sunny Isles Beach product, anchored by St. Regis, Bentley, and Bvlgari Residences, sits even higher. Wynwood's Twenty Sixth & 2nd opens at roughly one-third of that entry-level pricing.
That price gap is paired with a fundamentally different building-document posture on short-term rentals. The Brickell, Edgewater, and Sunny Isles luxury towers I track in 2026 either ban Airbnb outright or limit it to four or twelve approved rentals per year, which protects owner-occupier ambiance but caps investor exit liquidity. Twenty Sixth & 2nd Wynwood permits 365-day Airbnb hosting at the declaration level, which is the cleanest investor structure I have seen in a Miami pre-construction project this cycle. For a side-by-side neighborhood read, see my Brickell vs. Edgewater vs. Sunny Isles pre-construction comparison and the Wynwood luxury condo guide.
| Project | Entry Price | Airbnb Rule | Notes |
|---|---|---|---|
| Twenty Sixth & 2nd Wynwood | ~$500K | 365 days/year permitted | Deeded office suites; 73% sold; Q2 2028 |
| NoMad Residences Wynwood | ~$700K | Short-term permitted | Delivered 2026; sister project tone |
| 619 Brickell (Nobu Residences) | ~$1.5M | Restricted (typically 4-12/yr) | Foster + Partners; 74-story Brickell tower |
| Cipriani Residences Miami | ~$2M | Owner-occupier focus | Brickell ultra-luxury branded tower |
| St. Regis Residences Sunny Isles | ~$3.5M | No short-term rental | Branded oceanfront ultra-luxury |
The takeaway is not that one approach is better than another. The takeaway is that Twenty Sixth & 2nd Wynwood is the only one of these projects engineered to serve a buyer who wants a Miami pre-construction unit and intends to operate it as a short-term rental at scale. Buyers should weigh Wynwood's cultural and entry-pricing advantages against the larger amenity packages and ocean exposure of the East-side towers. The right answer depends on whether the unit will be a primary residence, a second home, or a cash-flow vehicle.
Why the Wynwood Submarket Is Pricing Where It Is in 2026
Three structural forces are pushing Wynwood pre-construction values right now. First, the Federal Reserve's most recent Beige Book observations on Florida flagged construction-cost pressure that has compressed margins on smaller boutique deliveries. Boutique developers without strong capital partners are stalling out, which is one reason Madison Realty Capital's underwriting of the PMG and LNDMRK stack reads as a vote of confidence in the absorption math. According to U.S. Census Bureau construction-spending data through Q1 2026, total residential construction in Miami-Dade was up modestly year over year but boutique sub-15-story projects fell off the most. Twenty Sixth & 2nd at 8 stories slots into a category where supply is contracting.
Second, Wynwood's commercial backbone has continued to absorb capital. Per the Hawkins Commercial Realty Miami CRE news cycle dated May 6, 2026, Wynwood saw $126 million in new condominium construction financing land in a single month, alongside a $500 million Downtown development site listing. Wynwood is not a fringe submarket in 2026; it is a core pre-construction destination where the rent of land is rising. See my Wynwood luxury condo neighborhood read for the longer absorption history.
Third, international and creative-class buyer flow has held. NAR's 2025 Profile of International Transactions placed Colombian buyers at 15 percent and Venezuelan buyers at 6 percent of Miami's foreign-buyer share, and Wynwood ranks high on the list of neighborhoods Latin American owner-occupiers cite when they want a creative-district address rather than a beach address. Combined with U.S. tax-migration buyers from New York, California, and Illinois who want a furnished pre-construction unit that doubles as office space, the demand stack here is broader than a typical Brickell investor pool. For foreign-national tax structuring, see my international buyer guide.
What I Am Telling Buyers Looking at Twenty Sixth & 2nd Wynwood Right Now
The 73 percent sold figure changes the conversation. Twenty Sixth & 2nd Wynwood is not a launch-pricing opportunity at this point. It is a final-tier-pricing opportunity. The remaining 27 percent of inventory, roughly 63 residences, will move at the tiers set after the May 4 groundbreaking, which typically run 8 to 15 percent above prior tiers in PMG's pricing playbook. Buyers who want this product should be evaluating the remaining floor plans now rather than waiting on a market-wide softness signal that has not arrived. Read my pre-construction buying process guide for the full deposit and milestone walk-through.
For investor buyers, the underwriting is straightforward and the math is unusually clean for Miami pre-construction. The Airbnb 365-day right paired with a furnished, deeded-office-suite delivery means the unit can start producing nightly rental cash flow within weeks of closing rather than months. Pro-forma annual rental yield in Wynwood for studios and one-bedrooms in 2026 has been running in the 6 to 9 percent range gross on professionally managed Airbnb units, materially above Brickell's 4 to 6 percent range gross on the rare units allowed any short-term hosting. Before committing, I run every investor through the actual building reserve schedule, condo association budget, and short-term rental tax structure. See how I evaluate condo building financial health before any pre-construction purchase.
For owner-occupier buyers, the question I push hardest is whether the Wynwood lifestyle matches the day-to-day. Wynwood is a creative-class neighborhood with active gallery openings, street art tourism, and a thriving food and beverage scene. It is also louder and busier than a Brickell or Edgewater address, and ground-floor noise can carry into lower floors. I walk owner-occupier clients through the specific stack and floor before committing, because the right floor in the right stack inside Twenty Sixth & 2nd will deliver an entirely different experience from the wrong one.
For international buyers, the FIRPTA withholding, LLC structuring, and country-specific tax treaty questions apply here as they do across Miami pre-construction. The fully finished, fully furnished delivery format simplifies the rental program for foreign owners who would otherwise need to fly in to furnish a unit or hire a designer. Combined with the Airbnb right, this is one of the cleanest structures available to a non-US buyer who wants Miami exposure plus a managed cash-flow vehicle. Call me at (305) 964-8614 if you want me to walk through your specific structure.
"The deal I am watching at Twenty Sixth & 2nd Wynwood is not the $126 million construction loan. It is the offering plan itself. Most Miami luxury buildings are written to protect the owner-occupier and limit the investor. This one is written to serve both, with deeded office suites for the owner and a 365-day Airbnb right for the investor. That alignment is the rarest thing in Miami pre-construction in 2026."Gerardo Gonzalez, Licensed Real Estate Agent at Compass
Frequently Asked Questions About Twenty Sixth & 2nd Wynwood
