The project
Legacy Hotel & Residences is the mixed-use tower planned for 942 NE 1st Avenue in Miami Worldcenter, with roughly 278 residences plus a hotel component and the MICROLUXE program of compact, no-rental-restriction units launched by Royal Palm Companies. Sales began in late 2019 with entry pricing around $300,000.
Buyers should know the project's history before committing capital: construction halted for more than a year amid contractor disputes, and in July 2025 Monarch Alternative Capital filed a foreclosure suit against the developer, who missed an October 2025 deadline in that litigation. Delivery, originally targeted for 2025, is uncertain. We advise extreme caution and current legal status review before any deposit, and we do not present this project as verified construction.
Project snapshot
Legacy Hotel & Residences at a glance.
The facts below are drawn from this guide and from the developer's published materials. Where a fact is not verified, the page says so plainly rather than guessing.
- Location / County
- Downtown Miami (Miami Worldcenter), Miami-Dade County
- Residence types
- MICROLUXE studios-2BR, fully furnished
- Status
- Under Construction
- Estimated completion
- Delivery uncertain; 2027 marketing target not firm
- Published pricing
- Original release ~$318K-$880K
- Developer
- Royal Palm Companies
- Sales gallery
- Contact for current information
- Rental restrictions
- Short-term-rental-friendly marketing; confirm in governing docs
Information reviewed October 2026. Prices, availability, and completion dates change frequently. Confirm current terms with the developer or a licensed advisor.
- Construction halted since about March 2024; tower at roughly 20 floors; no restart as of October 2026: Source: The Real Deal and Floridian Development, verified October 2026
- Monarch Alternative Capital foreclosure suit July 2025; October 2025 deadline missed: Source: Commercial Observer and The Real Deal, verified October 2026
- About 310 residences and roughly 219-255 hotel keys: Source: Groundbreaking release and press reports, verified October 2026
- Condo portion largely sold during the pandemic; original pricing about $318K-$880K: Source: Sales reporting, verified October 2026
Sources consulted for this guide
- The Real Deal, construction pause reporting, July 2024
- Commercial Observer, foreclosure suit, July 2025
- Floridian Development, project status review, January 2026
- REBusinessOnline, groundbreaking release
- Miami Condo Investments project profile
Source links open in a new tab and are provided for verification only. Facts carry the verification date recorded above; prices, availability, and timelines change and require sales-gallery confirmation.
Verified facts carry the source links above, each pointing to the original public source where one is available. Everything else on this page is marked Not verified or Contact for current information. This page never hosts or hotlinks external files, renderings, brochures, or floor plans; where a document exists only on the developer's site, the source link above is the reference.
At a glance
Legacy Hotel & Residences in Downtown Miami, in numbers.
County
Miami-Dade
City
Miami
Neighborhood
Downtown MiamiDeveloper
Royal Palm Companies
Address
942 NE 1st Avenue, Miami (Miami Worldcenter)
Price range
Original release ~$318K-$880K; current sales inactive
Starting price
~$300K (original release)
Residences
~310 residences plus ~219-255 hotel keys
Floors
~50 (plan)
Sales availability
Condo portion essentially sold out during the pandemic; construction halted since about March 2024 amid foreclosure litigation; new sales not active
Est. completion
Delivery uncertain; marketing cites 2027
Residence types
Microluxe studios-2 bedroom condos, Hotel residences
Construction status
Under Construction
Property category
Mixed-use
Design & architecture
Architecture and interiors: Not verified
Official website
Contact for current information
Gallery
Renderings and interiors.
Developer renderings and interior imagery are updated as phases release. Current documents are shared privately with registered buyers.
Interior renderings on request
Floor plans on request
Pricing & availability
What Legacy Hotel & Residences costs today.
The advertised starting price is the developer's published entry point. Available units, real pricing bands, and incentives change as phases sell, so we confirm current terms with the sales team before you commit capital.
- Advertised starting price
- ~$300K (original release)
- Published price range
- Original release ~$318K-$880K; current sales inactive
- Available units / sales status
- Condo portion essentially sold out during the pandemic; construction halted since about March 2024 amid foreclosure litigation; new sales not active
- Price by bedroom configuration
- Original release pricing: studios about $318K-$332K, one-bedrooms about $424K-$447K, two-bedrooms with terrace about $600K-$636K, two-bedroom duplexes about $780K-$880K
- Penthouse pricing
- Contact for current information
- Deposit schedule
- Historic release used staged deposits; the project's current sales program is not active, so no deposit schedule can be confirmed
- Developer incentives
- Contact for current information
Current pricing sheet for Legacy Hotel & Residences.
Price lists, deposit schedules, and any developer incentives are shared privately with registered buyers after the sales team confirms today's numbers.
Request current pricingWhere a number is not published on this page, the row reads Contact for current information rather than guessing. Never treat an advertised starting price as the price of a specific available unit.
Architecture & residences
The building and residences at Legacy Hotel & Residences.
The building profile below records what this page verifies about the tower and its residences: floor counts, unit mix, dimensions, finishes, and views. Anything the page does not state is marked Not verified rather than guessed. Layouts, dimensions, and pricing change as phases sell, so current floor plan documents, view matrices, and availability are shared with registered buyers.
- Towers / floors
- ~50 (plan)
- Total residences
- ~310 residences plus ~219-255 hotel keys
- Residence types
- Microluxe studios-2 bedroom condos, Hotel residences
- Square footage
- MICROLUXE Studios: Compact units; One & Two Bedroom: Standard plans
- Ceiling heights
- Not verified
- Finishes
- Not verified
- Kitchens
- Not verified
- Baths
- Not verified
- Smart-home features
- Not verified
- Parking & storage
- Not verified
- Views
- Not verified
The floor plans at Legacy Hotel & Residences.
Layouts, dimensions, and pricing change as phases sell. We share current floor plan documents, view matrices, and availability with registered buyers.
MICROLUXE Studios
Studio bedroom · Compact units
No rental restrictions; from about $300K at launch.
One & Two Bedroom
1-2 bedroom · Standard plans
Hotel-adjacent residences with resort services.
Full floor plan documents, view matrices, and current availability are shared privately with registered buyers.
Request floor plansAmenities & lifestyle
The amenity program at Legacy Hotel & Residences.
The list below records every amenity this page verifies for the project. Where the status of an amenity is not documented on this page, confirm with the sales team whether it is planned or already operating before you rely on it.
Hotel services from the Legacy property
Pool deck and fitness center
Restaurant and bar
24-hour front desk services
No rental restrictions (MICROLUXE)
Construction & completion
Where Legacy Hotel & Residences stands today.
Completion dates on new construction are estimates, not promises: they shift with permitting, financing, and the pace of the build. Announced milestones below are the ones this page records; anything unverified is marked plainly, and the current timeline should be confirmed with the developer before you plan around it.
- Construction status
- Under Construction
- Estimated completion
- Delivery uncertain; marketing cites 2027
- Announced milestones
- Broke ground 2021; tower rose roughly 20 floors before construction halted around March 2024 after a reported design flaw; Monarch Alternative Capital filed foreclosure July 2025; developer missed an October 2025 payment deadline; construction not restarted as of October 2026
Estimated completion is the developer's target as recorded on this page and is not a verified delivery date. Where the timeline is not verified, current scheduling requires confirmation with the project's sales team.
Location & neighborhood
Where Legacy Hotel & Residences sits.
Address, neighborhood position, and nearby attractions below are recorded from this page's own project notes. Drive times, walk scores, and ratings are never invented on this site; where they are not documented here, the community guide is the best next step.
- Street address
- 942 NE 1st Avenue, Miami (Miami Worldcenter)
- City
- Miami
- County
- Miami-Dade
- Neighborhood
- Downtown Miami
- Position & nearby
- 942 NE 1st Avenue in Miami Worldcenter, Park West
- Transport notes
- Not stated on this page
Community guide
Downtown Miami
Explore Downtown Miami living, dining, and market context in the full community guide.
Explore the areaInvestment analysis
Why Legacy Hotel & Residences matters to luxury buyers.
Why the project drew buyers
Legacy's original appeal was Miami Worldcenter adjacency, hotel-serviced living, and MICROLUXE units with no rental restrictions, at an entry price under $350,000 in a market where Downtown new builds were climbing past $1,000 per square foot.
Market context
Miami Worldcenter continues to build out around this parcel, but the Legacy tower itself has faced a stalled construction timeline and active lender litigation through 2025 and into 2026.
Deposit and risk review
This is not a project we recommend buying without current legal and financial review. Escrow protection, assignment terms, and litigation status must be confirmed in writing with counsel before depositing funds.
Appreciation outlook
Any forward valuation depends on the litigation resolving, construction restarting, and the district completing around it. We cannot verify a realistic delivery window today.
Ownership considerations
What to know before you commit.
General guidance for new construction buyers. Building-specific details are marked "Not verified" where they have not been confirmed for this project.
- Short-term rental policy
- Marketed as MICROLUXE with short-term-rental-friendly positioning; rental rules require confirmation in governing documents
- Minimum rental period
- Not verified
- Leasing / owner-occupancy rules
- Not verified; confirm current leasing and occupancy terms with the sales team
- HOA / condo fees
- Not published on this page; request the current budget before you commit
- Financing notes
- Not verified on this page; the deposit schedule above records the financing model this page states for the project, and loan terms are confirmed before contract
Closing costs
Florida buyer closing costs typically include title insurance, lender fees, county recording charges, prorated property taxes, and Florida documentary stamp tax on the purchase price. The exact figure for this project is not published on this page, so confirm the current estimate before you sign. Not verified.
Not verified
HOA and condo fees
New developments typically assess monthly HOA or condominium fees covering common areas, amenities, insurance, and building staff, with special assessments possible for capital projects. Monthly fees for this project are not published on this page; request the current budget. Not verified.
Not verified
Deposit process
Pre-construction purchases in Florida commonly require staged deposits across contract, groundbreaking, and closing milestones, held in escrow. The exact schedule for this project should be confirmed in writing with the developer before you commit. Not verified.
Not verified
Flood and wind insurance
Coastal Florida properties carry flood and windstorm insurance requirements that can add meaningfully to monthly carrying costs, and premiums have risen across the state. The current premium profile for this project is not published on this page; confirm with an insurance advisor. Not verified.
Not verified
Buyer questions
Legacy Hotel & Residences, answered.
Pricing, deposits, timelines, the developer, and the investment case, answered directly. For the broader picture on South Florida new construction, browse the full FAQ hub.
New Construction South Florida FAQsWhat is the current status of Legacy Hotel & Residences?
Construction has been paused for extended periods amid contractor disputes, and Monarch Alternative Capital filed a foreclosure suit in July 2025. The developer missed an October 2025 deadline in that litigation, so delivery timing is uncertain. We advise current legal review before any purchase.
How much are residences at Legacy Miami Worldcenter?
Entry pricing launched around $300,000 for MICROLUXE units. Current availability and pricing should be verified in writing with the sales entity, given the project's status.
How many residences does Legacy include?
Plans call for roughly 278 residences plus a hotel component, in a tower cited as 39 to 50 stories depending on the phase of planning.
Is Legacy Hotel & Residences a good investment?
Given the construction pause and foreclosure litigation, we cannot make a routine investment case. Any buyer should review the litigation status, escrow terms, and assignment provisions with counsel before committing funds.
Can I rent out a residence at Legacy Hotel & Residences?
Rental eligibility at Legacy Hotel & Residences was not verified at the time of our latest review. New-construction buildings and communities in Florida often restrict short-term rentals or set minimum lease terms, so rental rules are confirmed in the governing documents before you commit. Contact for current information on this project's rental policies.
Has construction at Legacy Hotel & Residences resumed?
No. Work halted around March 2024 after a reported design flaw stopped construction, and the tower has not restarted as of October 2026. The project is tied up in foreclosure litigation, so delivery timelines and any sales program should be confirmed in writing with the developer before any commitment.
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