Updated May 27, 2026
Twin Palms Trust Purchases Miami Beach Mansion For $34 Million With Financing From Morgan Stanley
1745 West 24th Street
$34,000,000
$5,456/SF
Building Size
6,231 SF
Asset Type
Single Family
Closing
May 26, 2026
About this deal
AI
A spec mansion located at 1745 West 24th Street in Miami Beach, FL, sold for $34 million. The property comprises 6,231 square feet, featuring six bedrooms. It is developed by Sunset Islands Developments LLC, and the price per square foot is $5,457. The transaction was financed by Morgan Stanley Private Bank, which provided $23.8 million in funding.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $34,000,000
- Buyer: Amy Gross - Twin Palms Trust
- Seller: Federico Ayala & Francisco Perez Yoma - Empresas FPY - Sunset Islands Developments LLC
- Buyer's Representative: Evan Weiss - 305 Degrees Realty
- Seller's Representative: Danny Hertzberg - Coldwell Banker
- Lender: Morgan Stanley Private Bank
This transaction reflects a continued strong demand for luxury properties on Miami Beach's Sunset Islands, following a recent sale of a neighboring mansion for $38.5 million.
Players
Saint Maries Single Family Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93