Goldman Properties, Citadel CEO Pay $180M for Miami Office Asset
The recently developed property is in a highly dynamic neighborhood.
A partnership between Goldman Properties and Citadel’s Founder & CEO Ken Griffin has acquired 545 Wyn, a 324,935-square-foot office building in Miami, South Florida Business Journal reported. Sterling Bay Co. sold the asset for $180 million, Yardi Matrix information confirms.
Sterling Bay purchased the construction site in 2018 for $18.9 million and subsequently developed 545 Wyn, with Gensler designing the property. Bank OZK provided an $81 million construction loan at the end of 2018, which was refinanced by a Blackstone debt fund in 2022, with that note at $135 million.
This office sale largely bucks trends seen nationwide in 2025, with the overall office market recording price and valuation drops. As of late, overall discounted transactions accounted for 44.3 percent of sales, according to a recent report.
A Wynwood LEED-certified office building
A LEED Gold-certified property, the office building rises 10 stories and features floorplates ranging from 16,346 to 36,484 square feet. 545 Wyn comprises first-floor retail, a multi-level parking area between the second and fifth floors and 298,597 rentable square feet of office space between the sixth and 10th floors.
The tenant roster includes Gensler, cryptocurrency exchange company Gemini, PwC—which signed a 38,409-square-foot lease in October 2023— and Miami International Holdings Inc., which operates a 38,400-square-foot trading floor spanning the entire ninth level. One other important tenant is Sony Music Group, which occupies almost 45,000 square feet at the property.
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The mid-rise is at 545 NW 26th St., in Miami’s Wynwood neighborhood. Just off Interstate 95, 545 Wyn is less than 4 miles north of downtown. Major thoroughfares in the area include interstates 195 and 395, and Florida State Route 836.
Miami office market slows down, investors cautious
In 2025, the Miami office market saw $900 million in investment sales, marking a 30 percent drop year-over-year, with 49 assets trading at an average of $367.8 per square foot, according to Yardi Matrix data. In 2024, the metro registered almost $1.3 billion in sales, with 44 properties changing hands at a slightly higher average price, of $374.5 per square foot.
Though the market recorded a dollar volume decline, more assets trading and the pricing resilience point to a stable yet cautious phase, in which investors prefer small-to-mid-sized assets, as fewer larger-scale deals went through.
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