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
Ari Pearl, Jonathan Leifer and 9540 West Bay Harbor Drive. (Wyndam Hotels, PPG Development, L3C Capital Partners)
Ari Pearl, Jonathan Leifer acquire Bay Harbor Islands hotel out of foreclosure
Ari Pearl, Jonathan Leifer acquire Bay Harbor Islands hotel out of foreclosure
From left: Tom Brady and Gisele Bündchen; Pharrell Williams; Sylvester Stallone and Jennifer Flavin; Jared Kushner and Ivanka Trump (Getty, iStock)
South Florida’s biggest real estate stories of 2020
South Florida’s biggest real estate stories of 2020
Shelborne South Beach and Seagull Hotel (Shelborne, Google Maps)
Here are South Florida’s biggest hotel sales in 2020
Here are South Florida’s biggest hotel sales in 2020
The Gale Hotel with Harvey Hernandez
Banyan Investment buys Gale Fort Lauderdale hotel from Harvey Hernandez
Banyan Investment buys Gale Fort Lauderdale hotel from Harvey Hernandez
Francisco Martinez Miyashiki (forefront) and Francisco Martinez Celeiro with 16805 Northwest 12th Avenue (Linkedin, Wikipedia Commons, Google Maps)
Former actor sells Miami Gardens hotel for $6M
Former actor sells Miami Gardens hotel for $6M
Paul Lardi and 200-212 Collins Avenue (Linkedin, Alex Zylberglait/Marcus & Millichap)
South Beach property sells for $6M, buyer plans apartment-hotel
South Beach property sells for $6M, buyer plans apartment-hotel
Diego Colmenero and Charlie Porchetto from Urbanica plan to break ground on Edgewater hotel (Urbanica)
Urbanica completes $9M assemblage for Edgewater hotel
Urbanica completes $9M assemblage for Edgewater hotel
Rendering of the project
Fort Lauderdale OKs plan for Bahia Cabana Hotel on the beach
Fort Lauderdale OKs plan for Bahia Cabana Hotel on the beach
arrow_forward_ios

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

Loading...