Daniel Krizek Of Citadel Acquires Upper Penthouse In Miami Beach For $19.5M
500 Alton Road
$19,500,000
$3,632/SF
Building Size
5,369 SF
Asset Type
Condo
Closing
Apr 8, 2025
About this deal
AI
A 5,369 SF penthouse located at 500 Alton Road (Upper Penthouse 2) in Miami Beach was sold for $19,500,000. This condo, part of Five Park, features a rooftop terrace and is significant as one of the building's most expensive sales. The asset is situated within Miami Beach's tallest tower, a 48-story development with a total of 227 units and 50,000 SF of amenities.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $19,500,000
- Buyer: Daniel Krizek - Citadel
- Seller: David Martin - Terra
- Seller: Russell Galbut - GFO Investments
- Square Footage: 5,369
- Price Per Square Foot: $3,632
Daniel Krizek, who is known for his role as a biotech fund manager at Citadel’s Surveyor Capital, completed the purchase of the penthouse. The development itself was spearheaded by Russell Galbut and David Martin, highlighting their involvement in creating this prominent Miami Beach residence.
On the Map
$19,500,000
$3,632/SF
Condo
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Players
Miami Beach Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $3.6K per square foot on a published $19.5M for 5,369 square feet (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93