Felix Bendersky of F + B Hospitality Brokerage is concerned about the high turnover rate of businesses in Wynwood. He predicts that between 50 to 100 restaurants could be closing in the coming months if the current trend continues. The closure of Wood Tavern, a beloved establishment in Wynwood, has sparked discussions about whether local businesses are being pushed out of the trendy neighborhood due to rising prices and demand.
Wood Tavern, located at 311 NW 23rd St., made an announcement on social media citing permit issues as the reason for their closure. Yanni Kralievits, the owner of Smugglers Cocina Cubana, expressed his worries about the rising costs of renting space in Wynwood. He noted that prices have tripled in just six years.
Over the past decade, Wynwood has undergone significant transformations and has become a popular destination known for its art, bars, and restaurants. With the influx of new residential properties in the area, changes are inevitable. There are concerns about how this will impact local business owners who have been a part of Wynwood’s charm for years.
