New York Developer Joins Miami Worldcenter Project
A New York-based real estate company has joined the Miami Worldcenter mixed-use project.
Lalezarian Properties, a family-owned real estate manager and developer, bought nearly 2 acres for $43 million as part of the 27-acre, 10-block downtown project. The property is between Miami and Northeast First avenues and Seventh and Eighth streets.
The $4 billion Miami Worldcenter will have four residential towers, two hotels and 300,000 square feet of retail across two promenades and a main square.
“With the development of Miami Worldcenter’s first phase moving forward on schedule and various elements of our $4 billion master plan now delivering to market, we are seeing heightened interest among investors and developers who are tapping into the area’s new amenities, privately funded infrastructure upgrades, and the surge of commercial and residential activity that Miami Worldcenter is bringing to the community,” Nitin Motwani said of the Lalezarian purchase.