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Legacy Hotel and Residences A rendering of Legacy Hotel & Residences to rise as part of Miami Worldcenter mixed-use project in downtown. Courtesy Illustration

The 1.53-acre lot where Legacy Hotel & Residences plans to rise at Miami Worldcenter was bought by the hotel developer for $34 million.

Miami-based Royal Palm Cos. led by Dan Kodsi purchased the property from Miami Worldcenter Associates, the master developer of the sprawling downtown project that includes the site of the demolished Miami Arena.

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Lidia Dinkova

Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.

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