The Real Deal Miami

CitizenM moves ahead with Brickell hotel on Perricone’s site

$46M project calls for 252 hotel rooms on South Miami Ave
By Katherine Kallergis |
Research by Haru Coryne
December 05, 2018 01:45PM

Rendering of CitizenM at Miami Worldcenter

CitizenM is moving forward with plans for what could be its first Miami hotel.

The Dutch hotel chain is seeking a building permit for a hotel at 955 South Miami Avenue, on the site of Perricone’s Marketplace & Café in Brickell. Steven J. Perricone sold the property to citizenM last year for $16.2 million. The deal was part of a sale-leaseback agreement with the hotel company, a Perricone’s spokesperson said at the time.

The building permit reveals new details about the project, including the estimated cost. The 252-key hotel would span about 160,000 square feet and cost nearly $46 million to build. It will be 19 stories and 253 feet tall.

Perricone said last year that he has a five-year lease on the property, and could open a restaurant as part of the new development.

Hotel developer and operator citizenM has built a majority of its hotels in Europe, and has projects in New York as well as others planned in Miami Beach and at Miami Worldcenter.

In August, citizenM said it would buy a plot of land at Worldcenter, along Northeast Second Avenue between Seventh and Eighth streets in downtown Miami, for a 12-story, 348-key hotel.