Glenn Boyer Acquires Waterfront Land At 50 West Di Lido Drive For $34.8 Million
50 West Di Lido Drive
$34,800,000
$1,657/SF
Building Size
21,000 SF
Asset Type
Land
Closing
Oct 23, 2026
About this deal
AI
A 21,000-square-foot waterfront lot located at 50 W. Di Lido Drive in Miami Beach has been sold for $34.8 million. This property, positioned in the Venetian Islands market, was acquired by 50 W Dilido LLC, owned by luxury homebuilder Glenn Boyer. The lot's price per square foot is approximately $1,657.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $34,800,000
- Buyer: Glenn Boyer
- Seller: The KC Property Holdings Land Trust
- Lender: Maxim Credit Group
- Lot SF: 21,000
- PPLSF: $1,657
Glenn Boyer plans to develop a mansion on the site, with a proposed size of 10,913 square feet. The acquisition was supported by a $39 million construction loan from Maxim Credit Group. The property was previously sold for $27.5 million in 2024, highlighting the rising demand for luxury waterfront properties in the area.
On the Map
$34,800,000
$1,657/SF
Land
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93