A parcel next to Legacy Miami Worldcenter has just been sold to an apartment developer, and a broker involved in the transaction has high expectations for what’s coming.
An affiliate of residential developer Lynd paid $30 million for the lot, county records show.
The property is directly adjacent to Legacy, on the corner of NW 10th Street and N. Miami Avenue. It currently appears to be in use as a staging area for construction at Legacy.
A broker involved in the sale and financing of the property told the SFBJ he expects Lynd to bring “a whole new level of residential living” to Worldcenter “that the market has not seen before.”
Up to 650 apartments can be built, with up to 1.2 million square feet, according to an allocation of density rights recorded along with the sale.
The seller retained a similarly sized parcel next door, also adjacent to Legacy. The allocation also leaves and additional 650 apartments and 1.2 million square feet for that parcel, bringing the potential total to 1,300 units.
IRR Parkwest Investments LLC, managed by Marc Roberts, was the seller.
As seen from the Legacy live construction cam this afternoon: