{"id":321343,"date":"2026-06-27T00:09:22","date_gmt":"2026-06-27T00:09:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/321343\/"},"modified":"2026-06-27T00:09:22","modified_gmt":"2026-06-27T00:09:22","slug":"miami-worldcenter-site-listed-for-sale-expected-to-fetch-over-100m","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/321343\/","title":{"rendered":"Miami Worldcenter Site Listed For Sale, Expected To Fetch Over $100M"},"content":{"rendered":"

A 2-acre development site in the\u00a0$6B, 27-acre master-planned Miami Worldcenter<\/a> district is up for grabs.<\/p>\n

\"Placeholder\"\/<\/p>\n

\n A rendering of the proposed One Miami World development at 1001 NE First Ave.\n <\/p>\n

Coral Gables-based Abbhi Capital<\/a> has\u00a0tapped Cushman & Wakefield to market 1001 NE First St., called\u00a0One Miami World, where it originally planned to build a 2M SF mixed-use development, according to a\u00a0marketing brochure<\/a>.<\/p>\n

The site doesn’t have an asking price, but it is expected to sell for\u00a0well\u00a0more than $100M, Cushman & Wakefield brokers Mitash Kripalani and Virgilio Fernandez told\u00a0Bisnow.<\/p>\n

\u201cScarcity is what makes this opportunity so extraordinary,\u201d Kripalani said in a statement.\u00a0\u201cOne Miami World is one of the last major development sites within Miami Worldcenter, a neighborhood that has already attracted billions of dollars in investment and some of the most iconic projects in the city.\u201d<\/p>\n

Abbhi, through\u00a0its entity SanaProperty8 LLC, assembled the property six years ago in 2020 for a total of $44M, according to property records.<\/p>\n

The firm\u00a0submitted plans in 2023<\/a> to build a 59-story tower with 558 residential units and a 33-story office tower connected by a podium with 368K SF of leasable space. Plans also included more than 7K SF of retail and restaurant space and more than 1,000 parking spots.\u00a0<\/p>\n

It would have been the first and only office-only tower in the Miami Worldcenter, but it never moved forward. Now, Abbhi is hoping to flip the site for more than twice what it paid.<\/p>\n

It is unclear if the new buyer would stick to those plans or change them, Kripalani and Fernandez said.<\/p>\n

Abbhi is a private investment firm focused on healthcare, life sciences, technology and real estate.\u00a0The firm\u00a0built a 46-unit rental community named Elemi at Grove Village in Coconut Grove last year and is\u00a0now planning<\/a> a 27-unit second phase.<\/p>\n

The firm didn’t immediately respond to a request for comment.<\/p>\n

The site, adjacent to the Jem Private Residences in the Miami Worldcenter, developed by Naftali Group<\/a>,\u00a0could add to the sales momentum in the district\u00a0so far\u00a0in\u00a02026.<\/p>\n

Japanese developer\u00a0Kasumigaseki Capital<\/a>\u00a0paid an entity led by\u00a0E11even<\/a>\u00a0Miami co-founder Marc Roberts $88.8M\u00a0in March<\/a> for\u00a0a development site\u00a0planned\u00a0for a 53-story mixed-use tower.<\/p>\n

The Falcone Group<\/a>, the master developer of the district<\/a>, teamed up with a handful of companies in April to swap partnerships on a five-parcel, two-garage site owned by Miami Worldcenter Associates<\/a> \u2014 a joint venture between Falcone, Nitin Motwani<\/a> and CIM Group<\/a>. The\u00a0site, which includes about 300K SF of retail 97% leased to restaurants and entertainment,\u00a0sold for $210M<\/a>.<\/p>\n

One Miami World is one of the last large pieces of developable land left within the district, the brokers said.<\/p>\n

\u201cThis is the type of opportunity that shapes skylines and defines markets for decades,\u201d Fernandez said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"A 2-acre development site in the\u00a0$6B, 27-acre master-planned Miami Worldcenter district is up for grabs. A rendering of…\n","protected":false},"author":2,"featured_media":321344,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[133216,34099,123,125,124,19657,133217],"class_list":["post-321343","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-abbhi-capital","tag-cushman-wakefield","tag-miami","tag-miami-headlines","tag-miami-news","tag-miami-worldcenter","tag-virgilio-fernandez"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/321343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=321343"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/321343\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/321344"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=321343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=321343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=321343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}