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Miami Worldcenter gains new hotel with recent multi-million dollar sale

$4 billion. 27 acres of mixed-use development. A location in downtown Miami. Miami Worldcenter has some impressive stats. And now it can add a $33.9 million sale.

Miami World Center Associate, the master developer of Miami Worldcenter, announced that it has sold a 1.53-acre parcel to Royal Palm Companies (RPC) for $33.9 million. The property, which is situated at 942 Northeast First Avenue, will be home to the Legacy Hotel & Residences, a 50-story mixed-use tower with 274 branded residences atop a 256-room hotel. Legacy Hotel & Residences will feature first-of-its-kind amenities and offerings, including a sophisticated members-only international business lounge, a dramatic Singapore-inspired cantilevered pool, downtown’s largest hotel pool deck set on one acre, a highly-anticipated 100,000 square foot medical and wellness center, and stylish microLUXE residences—all topped with the project’s signature amenity: the city’s first enclosed rooftop atrium, taking up the top seven floors of the tower. It adds to the wide variety of offerings at Miami Worldcenter, which is delivering in phases, such as 300,000 square feet of retail, restaurant and entertainment space, a 348-room CitizenM hotel which is now under construction, and an upcoming tower from Hines with up to 500,000 square feet of Class A office space. Plus, MDM Group is planning a 1,700-room Marriott Marquis hotel and adjacent 600,000 square foot expo center.

Legacy Hotel & Residences’ developer, Dan Kodsi of RPC, previously partnered with Miami Worldcenter Associates developers, led by Nitin Motwani and Art Falcone, on the newly completed Paramount Miami Worldcenter luxury condominium tower, which opened to residents in 2019 across the street.

“Legacy Hotel & Residences is one of our most anticipated developments. The project’s iconic architecture and state-of-the-art amenities featuring a world-class restaurant and medical facility are just some of the components that will make it a standout addition to our city-within-a-city at Miami Worldcenter,” said Nitin Motwani, Managing Partner of Miami Worldcenter Associates. “We’re committed to working with best-in-class developers to create a diverse and vibrant eco-system for the ultimate live, work, play Miami experience, and our recent collaboration with Dan Kodsi on Paramount is a testament to that vision.”

The Cushman & Wakefield team of Robert Given, Troy Ballard and James Quinn represented the seller, Miami Worldcenter Associates, in the transaction.

“We are looking forward to breaking ground in early 2021 on what we expect will be one of the iconic centerpieces of Miami Worldcenter,” said Dan Kodsi, CEO of RPC. “Legacy Hotel & Residences is setting the stage for the future of mixed-use developments and branded-residences that prioritize health and wellness without sacrificing luxury lifestyle experiences and resort-style amenities that discerning homeowners and travelers are accustomed to.”

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.