Robert Johnson's Trust Acquires Waterfront Home From Francisco Perez In Miami Beach For $38.5M
1727 West 24th Street
$38,500,000
Building Size
—
Asset Type
Single Family
Closing
May 7, 2026
AI
A single-family waterfront home located at 1727 West 24th Street in Miami Beach, FL, was sold for $38.5 million. The property reflects a significant transaction in the Miami Beach market, showcasing its allure and value. The seller, Francisco Perez, had acquired the site in 2022 for $13 million.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $38,500,000
- Address: 1727 West 24th Street
- Market: Miami Beach, FL
- Buyer: Robert Johnson (Trust)
- Seller: Francisco Perez
The notable sale represents the highest recorded residential sale in the Miami Beach market. Francisco Perez, as a spec developer, sold the property amidst a growing trend in luxury real estate transactions. The buyer, a trust associated with Robert Johnson, indicates strong investor interest in premium waterfront properties.
Market 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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93