Diesel Wynwood

Where Diesel Wynwood is

The press uses two addresses for Diesel Wynwood, and they are different parcels. The Real Deal (29 November 2018) describes a six-lot, nearly one-acre site at 115 to 161 Northwest 28th Street, and Florida YIMBY’s permit report (29 April 2023) is headlined with 161 NW 28th Street. The Real Deal (12 November 2021, 23 July 2024) and PROFILEmiami (16 November 2021) give the project address as 148 NW 28th Street. This is what the county records for each, retrieved 25 September 2026:

Florida YIMBY places the site relative to the sales centre, not to a street number: the development site “stands directly opposite its existing sales center.” The county lists the same mailing address for the land trust that holds the six lots and for Bel Invest Wynwood 8 Inc — 10800 Biscayne Boulevard, North Miami — and does not say who the trust’s beneficiary is. A search of the county roll by the developer’s name therefore finds the office at 148 and misses the six lots, and I have not found a source that says who controls the trust.

What has happened at Diesel Wynwood, and what has not?

The most recent trade report I found that describes the project’s status is The Real Deal’s of 23 July 2024; the most recent mention of any kind is The Real Deal’s of 26 February 2025. I did not find later coverage, and I have not found a source that says whether the April 2023 or December 2020 permits were later approved.

No source I have read says that Diesel Wynwood has been cancelled, and this page does not say so. A project website that returns an error, a corporate site that does not list the project, permits last reported as unapproved and a relaunch I found no report of are each consistent with a stalled project and with a quiet one. What the sources support: as of 25 September 2026 the county shows the six site lots as vacant land with no building value, the last report on construction (23 July 2024) says it had not started, and I have not found a recorded declaration of condominium.

The land: what was paid, what it is worth, and what left

For 2026 the county values the site lots and both neighbouring parcels at a flat $400.00 per square foot. Miami-Dade Property Appraiser land values, retrieved 25 September 2026:

Four different rates applied to these parcels in 2024, three in 2025 and one in 2026. The county’s land value is a mass-appraisal figure for tax purposes, not a record of anything selling, and I have not found a source that says why the rates changed. What did sell is recorded separately:

The Real Deal (29 November 2018) reported that records showed Bel Invest Wynwood assembled the lots for a combined $9.6 million between 2015 and 2017; I have not reconciled that figure with the county’s individual prices above.

The most recent sale among the parcels checked is 160 NW 28th Street. Its two latest recorded sales are $3,000,000 on 30 November 2016 and $6,700,000 on 28 March 2023 — up 123.3% over six years and four months, or $592.92 per square foot of the 11,300 sq ft parcel. The county flags both as qualified and lists no sale between them. The Real Deal (2 May 2023) says the seller had paid $3 million for the vacant lot in 2016.

The parcel sold in 2023, and the planned hotel

The Real Deal reported on 2 May 2023 that an affiliate of Robert Finvarb Companies and Hidrock Properties had bought the 0.2-acre site at 160 NW 28th Street for $6.7 million and planned a hotel, then described as 115 rooms and ten storeys. Its July 2024 report on Diesel Wynwood calls the parcel “a portion of that assemblage.”

On 20 January 2026 Florida YIMBY reported the plan as Hyatt Centric Wynwood: eight storeys, 116 guest rooms including six one-bedroom suites, around 2,000 square feet of meeting space, a rooftop pool and a 3,000 square foot rooftop bar, and a 5,900 square foot ground-floor restaurant, developed by Robert Finvarb Companies with The Restaurant People and operated by MIA Hospitality Management, “two blocks north of Wynwood Walls.” Construction was anticipated in spring 2026 and opening in late 2028. I have not found a report that construction has started.

Two things follow, and I state them narrowly. The 160 NW 28th Street parcel is not one of the six lots The Real Deal described in 2018 as the Diesel site, and I have not found a source that says the sale changed Diesel’s plans. And if the announced hotel timetable holds, there would be a hotel construction site on the same street from 2026 into 2028; I have not found a source on how far it sits from the six lots.

What would change this page

We will update this page when any one of the following appears on the record:

• Approval of the excavation and piling permits filed in April 2023, or of the vertical permits submitted in December 2020. Florida YIMBY reported both as not yet approved on 29 April 2023; I have not found a later report.
• A recorded sale of any of the six site lots, or a transfer out of the land trust.
• A recorded declaration of condominium — I have not found one.
• A construction loan reported by Florida YIMBY, PROFILEmiami or The Real Deal.
• The project website returning to service, or Bel Invest’s corporate site listing Diesel Wynwood.
• Any building value appearing on the county roll for the six site lots. That is the hardest signal that something is being built, and it is free to check.

What a buyer should do with all this

If you are considering a purchase at Diesel Wynwood, the first question is what exactly is being offered. On the sources I have read it is a contract on an unbuilt building, on a site the county shows as six vacant lots, with permits last reported as filed and not approved (29 April 2023), under a lead developer that took over in 2024 and whose planned relaunch I have not found reported. Block Capital could also retool the project (The Real Deal, 23 July 2024), so ask what the offering documents say about the plans, the unit mix and the completion date.

If you signed a contract in 2021 or 2022, ask the escrow agent named in it, in writing, where your deposit is held. The public record cannot tell you, and I have not found a source that says where this project’s deposits are held. PROFILEmiami reported on 19 August 2022 that FTX US was handling digital-currency conversions for the project’s sales deposits and transactions. The Real Deal reported on 17 November 2022 that FTX had filed for bankruptcy the week before, named Diesel Wynwood among projects with FTX partnerships, and wrote that it was unclear how many buyers used FTX to pay deposits. I have not found a source that says whether any Diesel Wynwood deposit was affected. Confirm the deposit terms in your signed contract and the offering documents.

And if what you want is Wynwood, that is a reasonable thing to want. The useful question is which projects here are under construction and which are announced. The distinction is the subject of this page, and the county roll answers it for free.

Four questions worth asking about any Wynwood pre-construction project:

• Has any building value been assessed on the parcel? Not an office or sales building nearby — the parcel the building will stand on. Ask which folio that is.
• Have permits been approved, or only filed? They are different. Here the last report I found (29 April 2023) has them filed and not approved.
• Who owns the site? If it is a trust, ask who the beneficiary is and whether the developer controls it.
• How is your deposit held, and what happens if the project does not proceed? In writing, before anything is signed.