Two Hundred Nineteen Keys With No Opening Date
Legacy Hotel & Residences programmes 219 hotel keys at 942 NE 1st Avenue in Miami Worldcenter. The project record carries a status of Under Construction and an expected opening date of TBD. Its own answer to “when will it be completed” reads that the tower is under construction.
That answer is the whole of the timing information. Royal Palm Companies started the 50-storey tower in 2021. Work stopped in March 2024 after plumbing and electrical slab penetrations were found incorrectly placed. Nothing in the record dates a restart.
The frame stands at roughly its 16th floor. Thirty-four floors of vertical build remain, which is 68 percent of the tower by floor count.
A group contract signed today commits spend against a building with no published completion date.
What the Record Publishes About Meeting Space
The page lists 310 furnished residences, the 219 keys, a 120,000-square-foot health and wellness centre and a 1.5-acre site. It names no ballroom, no divisible room, no capacity chart, no meeting square footage, no group rate and no sales contact.
The page does not say whether the wellness centre takes group bookings or what it holds.
Ask the sales office for a capacity chart before you ask for a rate.
Two Published Counts
The project record gives 50 floors, 310 residences and 219 keys. The sales site at legacymiamiworldcenter.com prints 46 stories, 255 hotel rooms and 278 residences. The developer’s portfolio page carries 310 residences, 219 hotel rooms and an estimated completion of 2024, a date the building has passed.
Attach the count you are contracting on to the block as a schedule. Ask the sales office which figure the permit set supports.
The Case Between the Planner and the Key
Legacy Lender Holdings, an affiliate of Monarch Alternative Capital, sued Royal Palm Companies in Miami-Dade Circuit Court on 2 July 2025 over $31.9 million in unpaid principal, interest, fees and taxes. The developer is countersuing.
On 22 September 2025 Dan Kodsi missed a $32 million surety bond a judge had ordered under the settlement with Monarch. That settlement also required more than $35 million paid by early November. The record states the tower has been left exposed to receivership or a debt auction. A dozen contractors pursue lien claims, and no lien total is published.
Ask counsel whether your block survives a receivership or a sale. Write the answer into the document before signature.
What the District Delivers Now
Miami Worldcenter trades today. The record lists the district as open since May 2025. Its journal file records the district at 95 percent leased in May 2024 after Maple & Ash, Apple, Juvia and the Museum of Ice Cream took space.
Around the site, the panel lists Miami World Tower 1 open since 2024 at 0.1 miles, The Crosby Miami Worldcenter open since 2025 at 0.2 miles, and Umbrella open. E11EVEN Club Hotel & Residences is under construction under 0.1 miles away with a June 2026 date. JEM Private Residences carries Q4 2027 at under 0.1 miles. Okan Tower and One West Twelve Residences carry 2028 at 0.3 miles. Waldorf Astoria Residences Miami carries Q2 2028 and Delano Residences Miami 2031, both at 0.4 miles.
Every distance on that panel is a straight-line measure from the site. Those dates let a planner build a programme on property that is open or contracted to open.
Contingency Language for a Stalled Anchor
Write a condition precedent that ties the contract to a certificate of occupancy for the hotel tower and names a long-stop date. Put the deposit in escrow, refundable if the certificate does not issue by that date.
Add a substitution right. Name two open properties in the district at the agreed rate and give the planner the right to move the block without penalty when the tower misses the long-stop.
Carve lender action out of force majeure. Receivership, foreclosure and a debt auction are foreseeable on this record.
Measure attrition and cancellation from the date the block is confirmed. Cap the liability at the deposit.
Require a written disclosure warranty at signature. The property warrants the construction status of the tower, and both sides warrant the key count and the meeting space the block is priced against.
Add a step-in clause that binds a receiver or a successor owner to the block.
Reserve Two Inspections
Reserve inspection rights at twelve months out and at ninety days out. Inspect the meeting space and the keys.
Pull the engineer’s report on the slab penetrations and the remediation scope. No such document is published. Put the remediation scope in the file before you price the block.
The record gives a district, an address and a stalled frame. It gives no opening date, no room, no rate and no named operator. A planner can contract around all four. Put all four gaps into the document.