December 9, 2020
Royal Palm Cos. has acquired a nearly two-acre land parcel at 942 Northeast First Avenue in Downtown Miami with plans to develop Legacy Hotel & Residences, a 50-story mixed-use tower with 274 residences and a 256-room hotel. The property is part of Miami Worldcenter, a $4 billion, 27-acre mixed-use development in Downtown Miami. The transaction includes 66,656 square feet of developable land.
Legacy Hotel & Residences will feature a members-only international business lounge, Singapore-inspired cantilevered pool, downtown Miami’s largest hotel pool deck, a 100,000-square-foot medical and wellness center and microLUXE residences. The project’s signature amenity will be the city’s first enclosed rooftop atrium, taking up the top seven floors of the tower.
Robert Given, Troy Ballard and James Quinn of Cushman & Wakefield represented the seller, Miami Worldcenter Associates, in the transaction.
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