Jose Mas And Cesar Molina Purchase 16 Palm Avenue Mansion In Miami Beach For $25 Million

The property involved in the transaction is a single-family asset located at 16 Palm Avenue in Miami Beach, FL. The sale price was $25,000,000 for the property which spans 9,209 square feet and sits on 0.8 acres. This asset was part of a market that has seen significant activity in recent months.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $25,000,000
• Address: 16 Palm Avenue
• Market: Miami Beach, FL
• Square Footage: 9,209
• Price Per Square Foot: $2,715
• Buyer: Jose Mas; Cesar Molina - CMA Designs
• Seller: Robert Rivani - Black Lion
• Broker: Dina Goldentayer - Douglas Elliman
• Lender: City National Bank of Florida

Investor Robert Rivani was the seller in this transaction, having recently acquired the property for $22.9 million and subsequently listed it for $27.5 million. The buyer, associated with CMA Homes, is focused on acquiring and redeveloping waterfront properties throughout South Florida.