Igmar Gagen Purchases Single Family Home From Lalani Developers For $5.45M In Miami Beach
291 Palm Avenue
$5,450,000
$1,771/SF
Building Size
3,077 SF
Asset Type
Single Family Residence
Closing
May 12, 2026
AI
The property involved in the transaction is a single-family home located at 291 Palm Avenue in Miami Beach. This asset was sold for $5,450,000. The home encompasses a total area of 3,077 square feet, equating to a price per square foot of $1,771.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $5,450,000
- Address: 291 Palm Avenue
- Market: Miami Beach
- Square Footage: 3,077
- Price Per Square Foot: $1,771
- Buyer: Igmar Gagen
- Seller: Lalani Developers
- Buyer's Representative: Rick Teed - The Agency
- Seller's Representatives: Mirce Curkoski & Mallory McGuire - ONE Sotheby's International Realty
The transaction involved Igmar Gagen as the buyer and Lalani Developers as the seller, with representation by Rick Teed from The Agency for the buyer and Mirce Curkoski and Mallory McGuire from ONE Sotheby's International Realty representing the seller in the deal.
Players
Miami Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.91%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93