Miami Worldcenter Makes a Deal

Developers of Miami Worldcenter just got quite a discount.  Falcone Group and Marc Roberts Companies purchased a seven-acre Park West lot for $39 million—less than half the original asking price of $88.7 million. The deal is set to close by September 14, and would have closed earlier if it weren’t for financial difficulties that led to a legal battle with Lev Leviev of Africa-Israel Properties.

The land is located in the heart of downtown Miami and is an imperative part of the future Miami Worldcenter—a project that will recreate and transform Miami. Covering nearly 30-acres, the development will include restaurants, stores, hotels, offices and more. Marc Roberts explained, “We’re developing a new city—20 million square feet and more than four-and-a-half years of planning, but the first phase will be a lot of retail.  If we stay the course it will be just like a modern day Rockefeller move,” and “There is no better place to do this because Miami is the greatest city in the world.”

Via The Real Deal