Downtown Miami · Stalled

Legacy Hotel & Residences (Worldcenter)

CATEGORY C — ACTIVE FORECLOSURE, DEPOSITS AT RISK: $32M foreclosure filed by Monarch against Dan Kodsi's Royal Palm Companies. $31.9M construction loan defaulted. Only a fraction of this 50-story, 310-unit STR tower was built before construction halted in 2024. No timeline for resumption. If you have a deposit here, consult a real estate attorney immediately. This is the second active foreclosure in our database — proof that pre-construction risk is real and present in Miami right now.GroundFloor notes · Aug 27, 2026

Stage: Stalled
Delivery: Not published
Deposit schedule: Not published by the developer
From: Not quoted while stalled
Residences: 310
Short-term rentals: Allowed
Developer: Royal Palm Companies (Dan Kodsi)
Sizes: Studio–2 BR · 280–1,200 SF

What could go wrong

Stalled — Foreclosure Filed. Deposits on stalled projects can take years to recover. Talk to us before you put money down.

The view

We haven't screened the lots around Legacy Hotel & Residences (Worldcenter) yet. A neighbour isn't always a deal-breaker: Brickell buyers still bought at Flatiron, SLS Lux and The Bond with towers all around. What matters is knowing which lines keep the view before you pick one.

See what's around it on the 3D map

What nearby units sold for

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Get the full brief

The line and floor we'd buy at Legacy Hotel & Residences (Worldcenter), the cash due by date, what finished towers nearby resell for, and what could rise next door. A sales center shows you one building; we'll also show you the others that fit, built or still being built.

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Also in Downtown Miami

Sources

What	Label	Source	Date
Stage, delivery, price, sizes, developer	Developer-provided	Miami Condo Investments catalog	Aug 27, 2026
Deposit schedule	Estimate	Miami typical schedule, not this developer's

Prices, sizes and dates change; confirm them with us before you sign. Renderings belong to their developers and show what is planned, not what is built.