Miami Worldcenter Associates

Naftali Group Closes On 1.3-Million-Square-Foot Miami Worldcenter Site With Plans to Build Two Supertall Residential Skyscrapers

8:00 am on March 29, 2022 By Oscar Nunez

New York-based developer, Naftali Group, a leading privately held global real estate development and investment firm, recently announced it has closed on a development site allowing 1.3 million square feet of new construction at 1016 Northeast Second Avenue in Miami Worldcenter, which spans 27 acres near Downtown Miami and is the second largest active private development in the United States with $4 billion in total investments. Naftali, in partnership with Cara Real Estate Management, purchased the site for $40.5 million. Mika Mattingly, Executive Managing Director at Colliers’ Urban Core Division, represented both Naftali, and Akara Partners, the seller, in the off-market transaction. According to a press release, the developer is planning to construct two supertall residential towers, which would be the first for Miami Worldcenter. Pre-sales for 1016 Northeast Second Avenue are slated for the end of this year.

Miami Worldcenter Reaches Milestone With The Completion Of Block H

8:00 am on March 22, 2022 By Oscar Nunez

The 27-acre Miami Worldcenter mega project, has reached a new milestone in construction with the completion of Block H, adding to the residential, retail and parking components on the $4 billion mixed-use development reinvigorating the Park West neighborhood of Downtown Miami. Block H is comprised of 50,000 square feet of prime street-level and rooftop retail space, and a 922-space public parking garage fronting Northeast 7th Street, between Northeast 1st and 2nd Avenues. A portion of the structure’s rooftop is also home to a resort-style amenity deck serving Bezel Miami, a recently completed 43-story luxury rental tower developed next door by the Moinian Group in collaboration with ZOM Living. Miami Worldcenter was envisioned and master planned by Miami Worldcenter Associates, a joint venture led by Principal Art Falcone and Managing Partner Nitin Motwani in partnership with CIM Group.

Additional Renderings Released For 31-Story The Crosby At Miami Worldcenter

8:00 am on February 10, 2022 By Oscar Nunez

Additional renderings have surfaced of the recently announced The Crosby, a 31-story residential tower planned to rise at 601 North Miami Avenue within the 27-acre Miami Worldcenter complex in the Park West neighborhood of Downtown Miami. Designed by Cohen Freedman Encinosa & Associates and developed between the Related Group, one of South Florida’s most active condo developers, and Merrimac Ventures led by the Motwani Brothers, the development will include 450 fully-furnished units with interiors by New York City-based AvroKO, ranging between 350 square feet to 825 square feet. Units will come in studio, one-bedroom and two bedroom floor plans accompanied by over 22,000 square feet of amenities and 4,000 square feet of ground floor commercial space. Residences at The Crosby will have no rental restrictions, meaning owners will have the option to offer their units as short-term rentals.

Witkoff Group Initiates Pre-Application For 700 North Miami Avenue At Miami Worldcenter

8:00 am on January 13, 2022 By Oscar Nunez

A pre-application has been initiated for an administrative site plan review with the Miami-Dade County Department of Regulatory and Economic Resources for 700 North Miami Avenue, the site of the cancelled Marriot Marquis Miami Worldcenter and the former location of the Miami Arena (demolished in 2008). The application lists WG 700 North Miami LLC, an entity owned and managed by New York City-based Witkoff Group, as the owner of the application, and reveals Miami-based Kobi Karp Architects is leading the design for the project. Plans for the 4.7-acre site consists of three 57-story mixed-use buildings with up to 2,195 residential units, 540,000 square feet of office space, and 49,999 square feet of retail space. Witkoff, along with Chicago-based Monroe Capital, acquired the property for $94 million from MDM Group in July of last year.

Construction Continues On Miami Worldcenter’s ‘Jewelry Box’ Retail Building On Block F-East

8:00 am on October 15, 2021 By Oscar Nunez

Construction is continuing on what is often referred to as the Jewelry Box, a multi-level retail building located on Block F (East) of the 27-acre Miami Worldcenter development in Downtown Miami. The structure is designed by NBWW Architects for Miami Worldcenter Associates, a partnership between Art Falcone, Nitin Motwani and the CIM Group. The building will yield 135,208 square feet of new construction, including 78,264 square feet of retail across the first two floors, and a usable rooftop space.

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