Updated Aug 12, 2026
Tal Alexander Sells Miami Beach Waterfront Estate To Joseph Lebowicz For $33 Million
2687 Flamingo Drive
$33,000,000
$1,473/SF
Building Size
22,400 SF
Asset Type
Single Family
Closing
Aug 12, 2026
About this deal
AI
The property asset involved in this transaction is a single-family home located at 2687 Flamingo Drive in Miami Beach, Florida. The sale price for the property was $33,000,000. The estate features five bedrooms and sits on a 22,400-square-foot lot, translating to a price per square foot of $1,473.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $33,000,000
- Buyer: Joseph Lebowicz
- Seller: Tal Alexander
- Lender: J.P. Morgan Chase
- Lot Size: 22,400 SF
- Price per Square Foot: $1,473
Joseph Lebowicz financed the purchase through a $21.8 million mortgage from J.P. Morgan Chase. The seller, Tal Alexander, is a former real estate broker who purchased the property in 2020 for $3.1 million and was facing a foreclosure case related to the home at the time of this transaction. Alexander is currently awaiting sentencing after being convicted on federal sex trafficking charges.
On the Map
$33,000,000
$1,473/SF
Single Family
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Players
Fleming Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $1.5K per square foot on a published $33M for 22,400 square feet (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93