A New York fund that burst into Miami’s Wynwood district paying previously unheard-of sums has done it again—this time shattering its own per-square-foot record set in January.

Brooklyn-based RedSky Capital LLC dropped $29.5 million to buy the Wynwood Block, a retail complex at 2621 NW Second Ave. running the length of the neighborhood’s main commercial drag between 26th and 27th streets.