CitizenM pays $11M for Miami Worldcenter land

Planned 12-story, 348-key hotel announced last year is part of mixed-use, master-planned project

Miami /
Jan.January 09, 2019 12:30 PM

Rendering of CitizenM (Credit: iStock)

Miami Worldcenter Associates just sold the site of a planned citizenM hotel to the Dutch hotel chain for $10.75 million.

Netherlands-based citizenM plans to break ground on the 12-story, 348-room hotel this year, Ernest Lee, managing director for development and investments of citizenM, said in a statement. OSIB Miami Worldcenter Properties acquired a 15,000-square-foot development site on Northeast Second Avenue between Seventh and Eighth streets in downtown Miami, property records show.

The 128,000-square-foot hotel will feature a sun deck on the 10th floor with a swimming pool and rooftop bar, a fitness center on the 11th floor, 1,850 square feet of creative and meeting space, and a cloudM rooftop bar, according to a release. Gensler Architects is handling the design.

The first phase of the 27-acre mixed-use, master-planned project will be completed later this year and includes the 60-story Paramount Miami Worldcenter condo tower and the 444-unit Caoba apartment tower.

CitizenM also plans to open locations in Miami Beach, at 1212 Lincoln Road, and in Brickell on the site of Perricone’s Marketplace & Café at 15 Southeast 10th Street.

The $4 billion Miami Worldcenter project will also have 450,000 square feet of high street retail, a 1,100-space parking garage, a 1,700-room convention center hotel and an office tower. – Katherine Kallergis


Related Articles

arrow_forward_ios
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Opterra Capital buys Holiday Inn & Suites Boca Raton for $13M
Opterra Capital buys Holiday Inn & Suites Boca Raton for $13M
Opterra Capital buys Holiday Inn & Suites Boca Raton for $13M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Rendering of the proposed Bulgari Hotel (Bulgari)
Setai Miami Beach owners and condo association sue city over Bulgari hotel height increase
Setai Miami Beach owners and condo association sue city over Bulgari hotel height increase
Louis Puig and 333 Jefferson Avenue in South-of-Fifth (Google Maps)
Former Club Space owner buys South Beach apartments for short-term rentals
Former Club Space owner buys South Beach apartments for short-term rentals
Nadim Ashi of Fort Partners with the hotel (Four Seasons, Fort)
Fort Partners buys Four Seasons Brickell hotel for $130M
Fort Partners buys Four Seasons Brickell hotel for $130M
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...