Lino Saputo Jr. Purchases Miami Beach Mansion For $16.5 Million With Brokers Julian Johnston And Devin Kay
6640 Allison Road
$16,500,000
$1,851/SF
Building Size
8,911 SF
Asset Type
Single Family
Closing
Jul 21, 2025
AI
This single-family asset, located at 6640 Allison Road in the Miami Beach market, spans 8,911 square feet and sits on 0.46 acres. The property was sold for $16,500,000, which reflects a price per square foot of $1,852. The home offers a redevelopment opportunity in a local market that is currently experiencing a slowdown, and it was marketed accordingly.
Summary of transation details:
- Property Type: Single Family
- Transaction Amount: $16,500,000
- Address: 6640 Allison Road
- Market: Miami Beach
- Acres: 0.46
- Selling Entity: The 6640 Allison Road Land Trust
- Buying Entity: Lino Saputo Jr. - Saputo Inc
- Buyer's Representative: Julian Johnston - The Corcoran Group
- Seller's Representative: Devin Kay - Douglas Elliman
- Square Feet: 8,911
- Price per Square Foot: $1,852
Lino Saputo Jr., a Canadian billionaire, acquired the property through his family office, Quadriam USA, with intentions to demolish the existing structure and construct a new one. The transaction reflected a discount from the property's 2023 price, and its sale highlights a strategic move amid the current market dynamics in Miami Beach.
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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93