Downtown’s Iconic Miami Tower Has Sold for $220 Million

May 24, 2016

The Miami Tower, an icon of the Downtown Miami skyline since its construction in 1987 to designs by starchitect I.M. Pei, has been sold to the Simitomo Corporation of America, for $220 million. The tall, slender wedge of a building is sheathed in glossy white and mirrored stripes, and puts on elaborate lighting displays nightly with a system of LEDs. (they recently replaced the original floodlights) Always a big visual statement on Downtown’s ambitions to be an au courante urban core, the Miami Tower had a series of owners over the years, and a series of names. It originally was home to to the il-fated Centrust Savings & Loan, and to some will probably always be remembered by its original name, the Centrust Tower.