416 W San Marino LLC Purchases Waterfront Home From Justin F. Korsant For $42.5M
416 West San Marino Drive
$42,500,000
$6,640/SF
Building Size
6,400 SF
Asset Type
Single Family
Closing
Jul 14, 2026
AI
A newly built waterfront home located at 416 West San Marino Drive in Miami Beach, FL, has been sold for $42.5 million. The single-family property spans 6,400 square feet and holds a price per square foot of $6,641. This transaction marks it as the highest-priced residential sale in the area.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $42,500,000
- Address: 416 West San Marino Drive
- Market: Miami Beach, FL
- Square Footage: 6,400
- Price Per Square Foot: $6,641
- Buyer: 416 W San Marino LLC
- Seller: Justin F. Korsant - Long Light Capital
- Broker: Dina Goldentayer - Douglas Elliman
This transaction involved key individuals including Justin F. Korsant, the CEO of Long Light Capital, who sold the property, which had more than doubled in value after previously trading for $23.1 million in 2024. Dina Goldentayer represented the buyer in this significant deal.
Players
Miami Beach Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93