WGM: Amazon's Wynwood Record, José Andres Wows, & Palm Island for $49M

With a side of: Real estate royalty Raanan Katz and next-level tacos at ZeyZey.

Welcome back to What’s Good, your weekly read on what actually matters in Miami. We cut through the noise to bring you the moves, meals, and moments shaping the city, from billionaire quiet killers and perfect crudo to real estate plays that reveal more about the future than any press release ever could.

Local Legends: Raanan Katz

Have you ever wondered what that little “RK” logo with the basketball hoop was doing on every shopping center up and down Collins Avenue? That’s Raanan Katz, former Israeli national team baller turned Miami retail billionaire. While other developers chase headlines with skyline-defining towers, Katz built his empire low to the ground: Publix plazas, Planet Fitness centers, and shopping strips that print cash. He keeps debt low, pays in full, and moves fast, so fast, competitors say if he wants a deal, it’s done by lunch.

Raanan Katz first arrived in the United States in his early twenties with a reputation as an excellent outside shooter on the Israeli National Basketball Team, recruited by the Boston Celtics. In the 1980’s he started buying up commercial properties in South Florida and New England one by one. At 89, he’s still hands-on, checking landscaping, tweaking signage, walking the properties himself. His discipline is legendary, and so is his cash flow. “You don’t want him as a competitor,” one rival said. “His numbers are insane. He can close any day.” His latest move? A 1,050-unit Live Local Act development on the former Sears site in Coral Gate, half of it affordable housing. He just listed it for $120 million.

That hoop in his logo? It’s not just a nod to his basketball past, it’s a symbol of how he plays the game. Katz brought a scorer’s mindset to real estate: consistent, calculated, always in control. In a city fueled by flash, he’s proof that sometimes the quietest guy in the room owns the whole block.

Amazon Puts Down Roots in Wynwood - Big Time

In a sign that Wynwood isn’t just for murals and mezcal anymore, Amazon has officially signed the largest office lease in the neighborhood’s history: 50,333 square feet at the brand-new Wynwood Plaza. That’s a full-court press from one of the biggest companies on Earth, betting big on a creative district once known more for street art than spreadsheets.

Wynwood Plaza, developed by L&L Holding Company, Oak Row Equities, Shorenstein Investment Advisers, and the Claure Group, is shaping up to be one of Miami’s marquee office campuses. Think 12 stories of Class AAA office space, 266,000 square feet of high-design real estate, and every tech-forward amenity you can imagine.

Amazon now joins a tenant roster that includes Claure Group HQ (25,400 SF) and Weitz & Luxenberg (18,000 SF). And just this week, Oko Group, the luxury developers behind Aman, inked their own lease at the tower. The energy in Wynwood is shifting, from creative playground to global business node.

Miami’s still fun. It’s just funded now.

South Florida Rental Market: Cooling, But Not Cold

After three years of relentless rent hikes and bidding wars for apartments with parking “maybe,” the South Florida rental market is showing signs of relief. According to Zumper, the median rent in Miami has declined compared to last year, but don’t break out the champagne just yet.

Yes, prices have dropped 3.6% for one-bedroom units in Miami. Yes, the same goes for Doral, Fort Lauderdale, and even pricey Aventura. But median rent for a 1-bedroom in Miami is still $2,700/month, the highest in the metro. The statewide average? $1,593. So while the heat’s easing up, we’re still not in chill territory.

What’s really happening? Probably a combo of summer seasonality, new inventory, and renters hitting affordability ceilings. But the shift is real, and worth watching, especially if you’re planning a move, a sublease, or a pivot to living in your friend's pool house rent-free.

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