Recently, a Miami Worldcenter site went up for sale. However, it was just announced that Witkoff and Monroe Capital from NYC and Chicago purchased it for $94 million. Since it was originally going to be a convention center, the plans were scrapped and the site went up for sale. As of now, the new owners have not announced the new plans for the site.
MDM, the original owners, had been working on the project assigned for that site for over give years. Originally, it was going to replace the original Miami Arena with a 600,000 square foot convention center plus a 1,700 room hotel. Furthermore, the entire project would have become part of the 27 acre Miami Worldcenter spectacle.
Miami Worldcenter is one of the largest urban developments in the country. Furthermore, it will feature new hotels, new condo towers, and restaurant and retail space. In fact, it has tremendous potential to completely transform downtown.
The Witkoff firm expanded to Miami in 2020. The firm has developed projects all over the country. In Miami, the firm was responsible for the redevelopment of the Washington Park hotel.
About Miami Worldcenter
Miami Worldcenter is the 2nd Largest Development in the U.S. and one of the biggest mixed-use developments in the world. In fact, two of the most sophisticated and
world-renowned retailers, with over 100 years of combined experience and successful track records, join together to help build the future of downtown Miami.
With 30 acres surrounded by over $3 billion of new public and private projects, Miami World Center is one of the largest and most exciting urban developments in the U.S. Furthermore, it will offer a diverse mix of retail, residential, office, hospitality, and entertainment components including: mass transit, museums, shopping, parks, sports venues, entertainment and 365,000 sq. ft. of convention space. In fact, Miami Worldcenter provides unmatched accessibility and sits at the nexus of nearly 150 million transit trips per year:
- Conveniently located next to I-95 and I-395
- Several Metromover stations
- Adjacent to Miami Central — new train station transporting visitors to and from Orlando in three hours
- Minutes from the Miami International Airport
- Thousands of new parking spaces, giving visitors to nearby attractions a convenient place to park.
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AMG International Realty is a global real estate firm specializing in Florida. If you are you looking to buy, rent, or sell in Miami we are here to guide you through every step of the way. That is, from mortgage applications, to finding your dream home and closing the deal. Chat with me on WhatsApp: +1 (305) 318 6968 (Heloisa Arazi).