Building facts
- Address
- 942 NE 1st Avenue
- Neighborhood
- Downtown Miami
- Year built
- 2026
- Floors
- 50
- Residences
- 278
- Status
- On Hold
- Developer
- Royal Palm Companies
- Architect
- Kobi Karp
- Pricing
- Sold Out!
Legacy Residences at Miami Worldcenter — photography to follow
Key Takeaways
- 278 residences across 50 floors — at 942 NE 1st Avenue.
- Status: Stalled — work halted March 2024 at 16 floors; lender foreclosure filed July 2025 — verified against the county roll and the development trade record.
- Developed by Royal Palm Companies.
- Architecture by Kobi Karp.
- Year built: Not announced.
- Pricing: Sold Out! — as last reported; confirm current availability.
Legacy Residences at Miami Worldcenter, by the numbers
Developer: Royal Palm Companies · Architect: Kobi Karp · Sold Out!. Source: the building record on this site.
942 NE 1st Avenue, Miami, Florida 33132 | Neighborhood: Downtown Miami
Rising 50 stories over the Miami skyline, Legacy Residences Miami Worldcenter will be a Miami new construction for sale mixed-used building with both hotel and approximately 310 residential condominiums and a 219-key hotel. ⚠️ Status, verified 26 August 2026: construction has been on hold since March 2024, at roughly the 16th floor of a planned 50. A foreclosure action was filed against the developer in Miami-Dade Circuit Court in July 2025, and no resolution has been reported since October 2025 (The Real Deal, 1 October 2025). The Miami-Dade County Property Appraiser records the site as still owned by Legacy MWC Trustee LLC with no transfer since 2021, so no foreclosure sale has occurred. No condominium declaration has ever been recorded for this project, so no statement can be made about whether short-term rental will be permitted. An earlier version of this page stated that the building would have no rental restrictions; that claim was unsupported and has been removed.
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Legacy Residences at Miami Worldcenter has been stalled since March 2024 and is the subject of a foreclosure action. Monarch Alternative Capital acquired the $340 million construction loan and sued to foreclose in July 2025; developer Dan Kodsi missed a $32 million bond deadline on 22 September 2025, ending his settlement protections. No reporting after October 2025 shows construction restarting. The tower was planned at 50–51 storeys and 690 feet with 310 condominiums and 219 hotel keys, architecture by Kobi Karp. If you hold a contract here, speak to a real-estate attorney before doing anything else.
Verified 3 August 2026. Source: The Real Deal, 1 Oct 2025
Interested in Legacy Residences at Miami Worldcenter?
Construction at Legacy Residences has been on hold since 2024. Ask Josh Stein what the current position is before considering any deposit.
Legacy Residences at Miami Worldcenter — questions buyers ask
Is Legacy Residences at Miami Worldcenter still being built?
No. Construction has been on hold since March 2024, at roughly the 16th floor of a planned 50. Verified 26 August 2026.
What is the legal position?
A foreclosure action was filed against the developer in Miami-Dade Circuit Court in July 2025, and no resolution has been reported since October 2025. The Miami-Dade County Property Appraiser records the site as still owned by Legacy MWC Trustee LLC with no transfer since 2021, so no foreclosure sale has occurred.
Can I buy here?
The condominiums were reported sold out in presales. Given the construction halt and the pending foreclosure, anything you are offered on this building needs legal review before a deposit, not after.
Are short-term rentals allowed?
No statement can be made. No condominium declaration has ever been recorded for this project, so the rule does not yet exist. An earlier version of this page said the building would have no rental restrictions; that claim was unsupported and has been removed.
What was planned?
Approximately 310 residential condominiums and a 219-key hotel across 50 storeys at 942 NE 1st Avenue, by Royal Palm Companies with architecture by Kobi Karp.
Thinking about Legacy Residences at Miami Worldcenter?
I have sold South Florida property since 2002, more than $1 billion of it. Ask me for the recorded declaration, what has genuinely closed, or a straight answer on whether this building fits what you are after.
Josh Stein · Florida real estate sales associate, license SL3057661 · (305) 695-8257 · hello@joshsteinrealtor.comRelated coverage
Part of South Florida New Construction.