# TwentySixth&2nd Wynwood: preconstruction prices and deposits

> Source: https://bluebaybrokers.com/buildings/twentysixth-2nd
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-10-07
> Plain-text copy of the page above for AI assistants and readers. Quote with attribution to BlueBay Brokers; each figure carries its own source and read date. Nothing here certifies that a short-term rental is legal at any address.

## The bet

Twenty Sixth & 2nd is the least speculative thing in the Wynwood pipeline. Madison Realty Capital and Siguler Guff closed $126M in May 2026, the ground is broken, the foundation is poured, and 73 percent of the 233 homes sold before the first slab went down. Airbnb is the contracted operator with 365-day hosting written in, and 122 of the homes convey with a deeded office suite. Delivery risk here is about as low as preconstruction gets.

## Absorption and timing

How many homes close each year in this building's price band and postcode, against how many it is about to deliver. No brochure answers this, and it governs both the resale and the developer's willingness to discount.

Units delivering 233 all at once, to the same buyer pool

Closings per year 89 trailing 12 months, 33127, same band

Years of supply 2.6 this building alone

Band closes at $455/sf median of real closings, not asks

| Band, 33127 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $500K – $750K | 68 | $605,000 | $455 |
| $750K – $1M | 21 | $844,000 | $606 |

**Absorption, and what 73 percent presold already settles**

Wynwood 33127 closed 84 homes between $500,000 and $1,000,000 over the trailing year, so 233 units is roughly 2.8 years of that band arriving at once. Two things soften it. Most of the building is already spoken for, so what reaches the resale market at delivery is the 27 percent still unsold plus whatever early buyers flip, not 233 doors. And a developer price list only moves up as inventory depletes, so the remaining stack is the part PMG no longer needs to discount. Read the number as a statement about when to sell, not about whether to buy.

## The market it lands in

Everything for sale in 33127 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 178 homes listed across 33127

Sold, trailing year 144 recorded closings, every price

Months of supply 14.8 under 6 favours sellers, over 12 favours buyers

Asking vs sold $894/sf asked, against $449/sf actually paid

How to read the gap

Asking is an opinion, sold is a fact, and months of supply is your leverage. Do not compare this building to the postcode median, which mixes in stock built decades ago: the comparison that counts is the band below.

## What recent deliveries resell for

The only read-across that means anything here: condominiums in 33127 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at —/sf withheld, 2 resales this year

Movement since — across recently delivered buildings

This building asks $1,232/sf entry residences

Entry vs new stock — below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2026 | 2 | withheld, 2 sales |

Why a year can show no figure

Under 5 transactions a median is noise, so it is withheld. Recently delivered buildings are thin by nature, which is itself worth knowing before counting on a quick resale.

## The basis

What it asks per foot against what its band actually closes at. Comparing one preconstruction ask to another tells you nothing: both are price lists.

Asking

$1,232–$1,570/sf

$500K – $1M · 406 – 637 sf · 122 of the 233 homes convey with a deeded office suite

Band closes at $455/sf $500K – $750K, trailing 12 months

Listed here today 0 nothing on the MLS

**What the entry price buys, measured against the right format**

The band comparison in the table above is not the one that matters here, and it is worth saying why. Wynwood 33127's closings run a median 1,369 square feet: lofts and townhouses, not furnished studios. Three homes under 800 square feet closed in the entire postcode all year. The honest comparable is downtown's furnished small-format cohort. The Elser closed 19 such units over the trailing year at a median $1,105 a foot, Gale and Natiivo at $800, and the whole post-2023 condominium set in 33132 sits at $868 for 2026, down from $1,128 in 2024. In price terms that format clears between $391,000 and $510,000. Twenty Sixth & 2nd opens at $500,000, at the top of the range and first in a neighbourhood with no small-format resale market yet.

## On the MLS today

Nothing at this address is on the MLS

Not one Active listing at 201 NW 26th St, Miami FL 33127, pulled 2026-10-07. The building is being sold off-market by the developer's own sales team, which is normal at this stage and has one consequence worth stating: there is no independent asking price to check the developer's price list against, so every size and price on this page comes from the developer or the trade press rather than from a transaction. It is also why this page carries no photograph: the MLS licence that lets us display a listing's images does not extend to a render off a brochure.

## What the deposit costs to hold

A preconstruction deposit is committed years before you hold a deed, earning nothing. That carry is a real cost of the trade and it is never in the pitch. Modelled on $500,000 at 4.5% simple, 22 months to delivery.

| Milestone | % | Payment | Committed | Held | Carry |
|---|---|---|---|---|---|
| At contract (assumed standard) | 10% | $50,000 | $50,000 | 22 mo | −$4,125 |
| At groundbreaking, already passed | 10% | $50,000 | $100,000 | 22 mo | −$4,125 |
| At top-off | 10% | $50,000 | $150,000 | 10 mo | −$1,875 |
| At closing | 70% | $350,000 | $500,000 | 0 mo | −$0 |
| Committed before closing |  |  | $500,000 |  | −$10,125 |

Why this line matters more than the yield

Nothing is rented and nothing is owned meanwhile, so the whole return has to come from the gap between contract price and the market at delivery. That carry, about $10,125, is the hurdle before you break even, and deposits are generally non-refundable, so a delivery that slips extends it without your consent.

## Carry at delivery

What it costs to own before any income, on the smallest residence of 406 sf.

| HOA, not published by the developer | — |
|---|---|
| Property tax at 2.02% of $500,000 | −$10,100 |
| Insurance (HO-6), $3.60/sf | −$1,462 |
| Annual carry, before any income | −$11,562 |

**What to get in writing before you sign**

PMG has not published a deposit schedule, so the carry above uses the Miami standard 10/10/10/70, with the groundbreaking tranche already due. Ask for three documents, and a developer expects all three from a cooperating broker. The plan-by-plan price and size sheet, because $500,000 to $1,000,000 across 406 to 637 square feet is too wide a range to underwrite. The HOA budget per square foot, which is the largest running cost on a furnished rental and is not published. And the Airbnb operating agreement, including what the platform takes and what may be done with the deeded office, which PMG states cannot be listed on Airbnb independently.

## Delivery risk

| Construction financing | $126M closed May 2026. Madison Realty Capital with Siguler Guff. The loan closed and the building broke ground the same week, and the foundation pour is complete. |
|---|---|
| Presold | 73% at last disclosure |
| Delivery | Q2 2028, per the developer's own groundbreaking release of 4 May 2026. Earlier marketing said Q1 2028 and some broker pages still do; the later, developer-issued date is used here. |
| Developer | PMG (Property Markets Group) with LNDMRK Development. Architecture by CUBE 3, sales by PMG Residential, 26,000 sf of ground-floor retail and 32,000 sf of amenity. |
| Rental policy | Airbnb is the contracted operator, 365-day hosting; the deeded office suite may not be listed on Airbnb on its own |

## Recommendation

BlueBay Brokers · TwentySixth&2nd Wynwood

### Buy it for the operation, not for the entry price

Delivery risk is genuinely low. $126M of construction financing closed in May 2026, the foundation is poured, and 73 percent of the building sold before ground broke. PMG has delivered more Miami condominium towers than any other sponsor in this pipeline.

The entry price sits at the top of what the comparable format clears downtown, and that format has repriced downward since 2024. Wynwood has no small-format resale market to lean on yet. That is the price of being first in a neighbourhood, and it is a real cost, not a rounding error.

So underwrite this one on the operation. Airbnb as contracted operator with 365-day hosting, plus a deeded office suite, is a structure nothing else in the pipeline offers. Get the plan sheet, the HOA budget and the Airbnb agreement, then decide on yield rather than on a discount.

## Want the rest of it?

I am Steve Gabison, a Florida broker, licence BK3411036. I wrote this page. New developments are Carolina Peña's desk at BlueBay Brokers, broker, licence BK3288753: she will send you what is behind it, in English or Spanish.

#### The full file

This page is the public read. The file adds the unit-level price list and what is actually left, the developer's land basis and what it says about room on price, the recorded rental language, and a rental underwriting on the specific line you are looking at. No charge.

#### On the purchase

Developers in this pipeline pay a cooperating broker, so having me represent you costs nothing on top of the price. I negotiate the deposit schedule, the credits and the co-broke, with the recorded comps to argue from.

#### After delivery

Property Management Brickell LLC runs the unit, as it already does across Brickell, and my own host profile carries more than 2,900 reviews at 4.82 as a Superhost. You get the pro forma before you buy.

## Read next

- [Frida Kahlo Wynwood Residences, Wynwood, Delivering Q2/Q3 2028](https://bluebaybrokers.com/buildings/frida-kahlo-wynwood)
- [NoMad Residences Wynwood, Wynwood, Delivered May 2026](https://bluebaybrokers.com/buildings/nomad-wynwood)
- [The Rider, Wynwood, Q3 2027](https://bluebaybrokers.com/buildings/rider-wynwood)
- [All the new-development studies](https://bluebaybrokers.com/new-developments)
- [Developer price vs resale on six delivered Miami condos](https://bluebaybrokers.com/developer-price-vs-resale-miami)
- [What a preconstruction deposit costs to hold](https://bluebaybrokers.com/preconstruction-deposit-carry-miami)
- [Buying preconstruction in Miami as a foreign buyer](https://bluebaybrokers.com/buy-preconstruction-miami-foreign-buyer)

## Sources

- [The Real Deal, PMG and Lndmrk score $126M construction loan for Wynwood condos (May 2026)](https://therealdeal.com/miami/2026/05/01/pmg-lndmrk-score-126-million-loan-for-wynwood-condos/)
- [The Real Deal, PMG and Lndmrk plan short-term-rental-friendly condos in Wynwood (Apr 2025)](https://therealdeal.com/miami/2025/04/22/pmg-lndmrk-to-launch-sales-for-wynwood-condos/)
- [PROFILEmiami, groundbreaking release, 4 May 2026](https://profilemiami.com/miamirealestate/2026/5/4/pmg-and-lndmrk-development-break-ground-on-twenty-sixth-amp-2nd-wynwood-residences-after-securing-126-million-construction-loan)
- [Commercial Observer, Madison Realty provides $126M for the Wynwood condo](https://commercialobserver.com/2026/05/madison-realty-miami-twenty-sixth-2nd-wynwood-lndmrk/)
- [Developer site, 26thand2ndwynwood.com](https://26thand2ndwynwood.com/)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-10-07. Deemed reliable, not guaranteed.

**Developer data.** Unit counts, sizes, pricing and delivery dates are the developer's own and are not verified by BlueBay Brokers LLC, which does not represent the developers named here and receives no compensation from them.

**Not investment advice.** A scenario built from stated assumptions. Deposit carry uses simple interest and ignores tax. The recorded condominium documents govern every legal question raised here. Consult your own tax and legal advisers.

**Rental policy** as published by the developer and routinely amended before closing.