The wellness component of the Legacy Hotel & Residences project at Miami Worldcenter is set to expand after the developer purchased a neighboring site.
Miami-based Royal Palm Cos., led by Daniel Kodsi, paid $4.45 million for the 7,500-square-foot property at 61 N.E. Ninth St.
Coral Gables-based Sin Bin, managed by Yueh-Chuan Shih and Chung-Shong Chang, were the sellers of the property, which has a 6,950-square-foot retail building.
The property last traded for $200,000 in 1996, so it had a huge gain in value. Back then, the Overtown neighborhood was an often-overlooked area, but now it’s been transformed by the $4 billion Miami Worldcenter mixed-use project.
Purchasing the additional land will allow the health center to total 160,000 square feet, a 60% expansion.
The general contractor of the project is Fort Lauderdale-based Moss Construction. It was designed by Miami-based Kobi Karp Architecture.
Source: SFBJ
