Developers PMG and LNDMRK have locked in a $126 million construction loan for a short-term-rental-friendly condo in Wynwood that comes with an official Airbnb tie-up. The eight-story project, branded Twenty Sixth & 2nd Wynwood Residences, is set for 2600 Northwest Second Avenue and is planned to deliver 233 fully furnished studios and one-bedrooms, ground-floor retail, and more than 32,000 square feet of wellness amenities. Site work is already underway, and the team is targeting a second-quarter 2028 completion.
The financing, provided by Madison Realty Capital together with private-equity firm Siguler Guff, will pay for vertical construction of the eight-story building and its roughly 26,000 square feet of ground-floor retail, according to Commercial Observer. The developers say the new capital will move the project from foundation and podium work into full vertical construction.
Airbnb deal and how ownership is supposed to work
The partners are pitching Twenty Sixth & 2nd as a first-of-its-kind Miami offering, with an official operating relationship with Airbnb that lets owners host both their residences and assigned office suites year-round. According to the project’s sales brochure and marketing materials, Airbnb will provide full-service management for the residential units and the deeded office spaces, handling listings and turnovers to streamline hosting for buyers, per MiamiPRE.
The building’s 233 turnkey units, mostly studios and one-bedrooms, are being marketed squarely to investors and short-stay hosts. Developers cite strong early interest, with press coverage noting that more than 70 percent of units were under contract at launch. Commercial Observer reported a 72 percent pre-contract figure along with the projected Q2 2028 delivery timeline. The financing and the Airbnb component were also documented in reporting by the South Florida Business Journal.
Where this lands in Miami’s current building boom
The Twenty Sixth & 2nd loan is another sign that private credit is still open for business on investor-focused, short-term-rental condo projects in Miami. PMG and its partners have recently lined up several large construction financings for Airbnb-friendly developments. The Real Deal has tracked PMG’s $215 million financing for a nearby project, while Axios Miami has outlined how Wynwood’s rezoning and upzoning have sparked a wave of denser residential development.
Property records and sales materials show the 1.1-acre site was assembled by ASG Equities, which will keep ownership of the retail component and hold a minority stake in the residential portion, according to MiamiPRE. Supporters argue that the blend of retail, offices, and wellness amenities will pump up foot traffic and neighborhood services. Critics counter that more short-term-rental-friendly condos risk pushing prices higher and shifting Wynwood’s character, a pattern tied to recent zoning changes highlighted by Axios.
With the Madison and Siguler Guff financing in place, PMG and LNDMRK are pressing ahead with construction while continuing condo sales. The deal underscores how lenders and developers are leaning into Miami’s investor market, and how Wynwood is rapidly pivoting from arts district to denser, tourism-focused neighborhood.
