Majors

Miami’s Jewelry District Is Expanding

MajorsFeb 19, 2021

Miami’s Jewelry District Is Expanding

The forthcoming Time Century Jewelry Center just secured $23.6 million in funding.

20210219_TimeCentury.jpg
A rendering of the Time Century Jewelry Center, which has just secured $23.6 million in construction funding

Miami—For its first Miami project, a New York City real estate investment and development firm has turned its eye to the Magic City’s jewelry district.

Time Century Holdings LLC purchased the Metro Mall building in downtown Miami in 2018 for $14.5 million, intending to turn it into the Time Century Jewelry Center, a planned luxury destination of retail jewelers and wholesalers, with offices as well.

Headed by Yair Levy, Time Century announced it has obtained a $23.6 million construction loan from City National Bank of Florida. The funds will go towards the jewelry center’s “Phase 1” renovation, estimated to cost a total $50 million.

Phase 1 involves the remodel of the wholesale and retail spaces, including the basement, ground, mezzanine and second floors. Later this year, Phase 2 construction will entail renovating the four floors of planned office space.

With all renovations expected to be complete by the second quarter of 2022, Miami’s jewelry district will see a significant expansion, with the 225,000-square-foot Time Century Jewelry Century building at 1 NE First St. occupying an entire city block.

Levy and his team began initial building renovations in early 2020, demolishing the building’s existing interior. With construction considered an essential service, work on the building continued throughout the pandemic.


The Time Century Jewelry Center will be geared both toward the jewelry trade and consumers, with four floors of wholesale and retail space and an additional four floors of office space.

Despite the heavy toll the pandemic took on the global economy, Time Century said it was able to pre-lease more than half of the building’s retail space.

In a statement, Levy said: “This loan is a true endorsement of the transformation of downtown Miami. City National Bank has a pulse in the community and wants to be part of projects that will further position downtown Miami as a global destination.

“Our wholesale retail space, which is more than 60 percent pre-leased, has already attracted jewelers from Europe, South America and Asia. We are proud to have partnered with City National Bank to bring this project to fruition.”

The remaining wholesale retail space available in the building ranges from 500 to 2,000 square feet and is renting for $65 to $150 per square foot.

In addition to the four floors of retail and wholesale space and four floors of office space, the Time Century Jewelry Center will feature a three-story atrium

with escalators and computerized directories to guide visitors to their destination. Signage for the majority of wholesale and retail tenants will be unobstructed and easy to view from the main floor, Time Century said.


Time Century Holdings LLC is a New York-based real estate investment and development firm, founded more than 50 years ago. The jewelry center is its first Miami property and expected to be complete in 2022.


Valet parking for the building and several new parking garages nearby will make the building easily accessible by car, while Miami’s public transportation, like the MetroRail, People Mover and the Brightline train, which connects Miami to Fort Lauderdale and West Palm Beach, all serve the area.

Located along NE First Street and E. Flager Street, Miami’s jewelry district houses more than 400 jewelry stores in a matter of four blocks and generates close to $1 billion in annual sales.

Downtown Miami has experienced a revitalization in recent years, with the pandemic only expected to increase interest from companies that are relocating from other parts of the country.

New York private equity firm Blackstone will soon lease a 41,000-square-foot office at a new building near the Time Century Jewelry Center, for example.

Time Century Holdings’ Levy, meanwhile, has an interesting, and controversial, history.

The Israeli-born developer, who called New York City home for decades, was permanently banned from selling condos and co-ops in New York State by the State Supreme Court in 2011, when the court ruled that Levy had used funds for one of his buildings for personal expenses.

Levy disputes those charges, though he was forced to pay restitution.

According to an interview with “The Real Deal,” while still a teenager in Tel Aviv he would occasionally work cutting diamonds.
Ashley Davisis the senior editor, fashion at National Jeweler, covering all things related to design, style and trends.

The Latest

Tyrese Maxey The 1916 Company campaign
IndependentsDec 23, 2024
Philadelphia 76ers’ Tyrese Maxey Stars in The 1916 Company’s New Campaign

The retailer’s “On the Clock” campaign celebrates how time, precision, and purpose come together.

Jewelry by Sorellina, Francesca Villa, Cece Jewellery, Retrouvai, Ray Griffiths, Cartier, Cocoerow Fine Jewelry, and Gumuchian
EditorsDec 23, 2024
My Favorite Piece of the Week Jewels of 2024

Associate Editor Natalie Francisco chose her 12 favorite Piece of the Week picks from the year gone by.

GIA emerald report
GradingDec 23, 2024
GIA Adds Filler Identification to Emerald Reports

Lab clients have the option to request this addition on their emerald reports.

ride_or_die_1872x1052.png
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday Campaign

A Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’

Ella Klein Interns Jamie Dunton and Gabriella Botelho
Events & AwardsDec 20, 2024
Two Participants Complete Inaugural Ella Klein Internship

Jamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.

Weekly QuizDec 19, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Retrouvai Green Sapphire and Diamond Heirloom Bezel Ring for Charity
CollectionsDec 20, 2024
Piece of the Week: Retrouvaí’s Ring for Charity

In the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.

DeVries Jewelers
IndependentsDec 19, 2024
Michigan’s DeVries Jewelers Unveils New Location in Time for the Holidays

Co-owner Dan DeVries shared what it’s like moving into a space triple the size of its old store and how it feels to be a “real jeweler” now.

me_myself_and_I_1872x1052 .jpg
Brought to you by
De Beers Group Launches Holiday Campaign for Natural Diamonds

‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.

State Property Gardens Collection Campaign
CollectionsDec 19, 2024
State Property Transforms Spain’s Generalife Gardens into Jewelry

Along with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.

Two people in a rowboat
CrimeDec 19, 2024
Alleged Jewelry Thieves Attempt Rowboat Escape

The man and woman are accused of stealing jewelry from a shipping container then trying to flee by paddling a small boat out into a bay.

2488-carat diamond found in Botswana
SourcingDec 19, 2024
The Second-Largest Diamond Ever Found Now Has a Name

The 2,488-carat diamond recovered from a mine in Botswana has been dubbed “Motswedi” while its 1,094-carat sibling is “Seriti.”

Rough rubies
SourcingDec 19, 2024
Gemfields Reports Record Ruby Auction Results Despite Challenges at Source

The average price per carat hit a record high for the miner, which said it remains unaffected by the conflict in Mozambique.

alexandrite ring
AuctionsDec 18, 2024
Alexandrite Ring Sells for Record-Setting $1.9M at Sotheby’s

The nearly 17-carat stone made history for the color-change gem that, according to the auction house, is experiencing a “notable surge” in the market.

Tiffany & Co. pocket watch gifted to captain of the Carpathia
WatchesDec 18, 2024
Historic Titanic Pocket Watch Winds Its Way Back to Tiffany & Co.

More than a century after survivors gifted a Tiffany timepiece to the captain of the ship that rescued them, the jeweler has reclaimed it.

Picchiotti Spotlight Campaign Video Still
TechnologyDec 18, 2024
Picchiotti Utilizes AI in ‘Spotlight’ Video Campaign

The videos highlight how pieces from the “Xpandable” and “Reversible Xpandable” collections put the wearer in the spotlight.

Steve Feldman
IndependentsDec 18, 2024
Industry Veteran Steve Feldman Set to Retire

Feldman reflected on 45 years in the jewelry industry and clarified that it’s not a total retirement.

Chanel Quilted Stars Necklace
Events & AwardsDec 17, 2024
Chanel to Receive Gem Award for High Jewelry Excellence

The luxury brand is being honored for excellence in high jewelry design in its “Haute Joaillerie Sport” collection.

Frank Circelli
SourcingDec 17, 2024
Frank Circelli, Founder of Gem Shopping Network, Dies at 75

Circelli was a pioneer in the world of TV shopping who is remembered for his passion for gemstones and his big personality.

Blue diamond ring
AuctionsDec 17, 2024
Blue Diamond Fetches $8.8M at Christie’s

The nearly 6-carat stone headlined the recent jewelry auction, which also featured Mica Ertegun’s jewelry.

Stock image of a gavel, handcuffs, and books
CrimeDec 17, 2024
‘Black Bin Crew’ Robbers Get 14-16 Years in Prison

The three men, who got their nickname because they’d toss the jewelry they stole into black plastic bins, were arrested back in August.

Cover of the new book “The History of Diamond Engagement Rings: A True Romance”
TrendsDec 16, 2024
Marion Fasel’s New Book Delves Into the History of Engagement Rings

“The History of Diamond Engagement Rings: A True Romance” is a 128-page small-format book containing more than 165 images.

Rolex store on Rodeo Drive
WatchesDec 16, 2024
Take a Look Inside the New Rolex Boutique on Rodeo Drive

Gearys opened a 6,200-square-foot Rolex store with a design that pays homage to the brand’s connection to the ocean.

GCAL 8X pear and marquise-cut diamonds
GradingDec 16, 2024
GCAL By Sarine Expands 8X to 2 More Fancy Shapes

The diamond cut grade is now available for marquise- and pear-shaped diamonds.

Claudia Cividino, Sissy’s Log Cabin, Shri Govind Dholakia, Tanishq
SourcingDec 16, 2024
Diamonds Do Good Announces 2025 Award Recipients

DDG said the honorees’ business practices embody a commitment to positive social impact, industry innovation, and community empowerment.

Selena Gomez, Benny Blanco, Engagement Ring
TrendsDec 13, 2024
Selena Gomez Said ‘Forever Begins Now’ to Marquise Diamond Engagement Ring

Estimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.

Martin Katz tanzanite drop earrings
TrendsDec 13, 2024
Piece of the Week: Martin Katz’s Tanzanite Drops

These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.

My Next Question webinar graphic
Recorded WebinarsDec 13, 2024
Watch: The Highs and Lows of 2024

The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy