Toni Alam Sells Development Site At 93 Palm Avenue Miami Beach For $21 Million
93 Palm Avenue
$21,000,000
Building Size
—
Asset Type
Development Site
Closing
Aug 12, 2026
AI
The asset involved in this transaction is a development site located at 93 Palm Avenue in Miami Beach. The property was sold for $21,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $21,000,000
- Seller: Toni Alam
- Buyer's Representative: Albert Justo & Mirce Curkoski - ONE Sotheby's International Realty
- Seller's Representatives: Joel Lusky - The Brokerage South Florida Real Estate; Jordan Karp - Jordan Karp LLC
In this transaction, Albert Justo and Mirce Curkoski represented the buyer, while the seller was represented by Joel Lusky and Jordan Karp. Each representative played a significant role in facilitating the transfer of the development site.
Players
Miami Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93