Luke Pelosi Of GFL Environmental Purchases Miami Beach Penthouse For $17.5M From Russell Galbut And David Martin

The property asset involved in the transaction is a condo located at 500 Alton Road Penthouse 4702 in Miami Beach. The penthouse was sold for $17,500,000 and has a total square footage of 5,888. The price per square foot for this unit was $2,972.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $17,500,000
• Address: 500 Alton Road Penthouse 4702
• Market: Miami Beach
• Square Footage: 5,888 SF
• Price per Square Foot: $2,972
• Buyer: Luke Pelosi - GFL Environmental
• Seller: Russell Galbut - GFO Investments; David Martin - Terra
• Brokers: Christopher Wands & Charlotte Maietto - Douglas Elliman

Luke Pelosi, who serves as the EVP and CFO of GFL Environmental, acquired the penthouse through an LLC associated with Patrick Dovigi’s company. The transaction was brokered by Douglas Elliman, and the sale closing price was below the initial asking price of $20 million. GFL Environmental has also secured approximately 20,000 square feet at Eighteen Sunset in the Sunset Harbour area of Miami Beach.