Miami Beach teardowns top $50M: $1,324 a foot on Sunset Island
Two Miami Beach waterfront houses slated for demolition sold for over $50M combined. Appraiser records show about $1,324 and $995 a foot of land.
Two waterfront houses on Miami Beach islands are now worth more as dirt than as homes. The Real Deal reported on Oct. 7 that 1601 North View Drive on Sunset Island I sold for $32 million and 6500 Allison Road on Allison Island for $21.5 million, both teardowns, both after bidding wars. The county’s own records show what the land is worth.
Why it matters
The North View Drive house is a 1950 single-story, two-bedroom with 3,590 square feet under roof, on a 24,174-square-foot lot. At $32 million, that is about $1,324 for every square foot of land, with the building effectively valued at zero. Allison Road is a 21,600-square-foot lot, and The Real Deal put the price at $995 a foot, which matches the appraiser’s lot size against $21.5 million.
Neither buyer is paying for the structure. They are paying for a buildable estate-zoned waterfront parcel, a scarce thing on an island that is already built out. For developers and spec builders, that is the new floor for single-family waterfront land on the island, and a spread of more than $300 a foot between two neighboring islands.
The numbers
Appraiser records show the seller of 1601 North View, 1601 North View LLC, paid $21 million on Oct. 28, 2024, with $126,000 in documentary stamps. A $32 million resale implies an $11 million gain, or 52 percent, in about two years. The Real Deal reported the buyer as a company tied to Missouri developer Victor Alston, who operates Big Sur LLC and sister company Lux Living LLC, and who plans to build a home on the site.
For 6500 Allison Road, the county assessed the land at $9.72 million for 2026, less than half the reported price. The roll still lists the Barbara B. Voight trust as owner and shows no recent deed. The Real Deal’s report is the only source we have for that price and buyer.
What’s next
Neither new deed had posted to the Miami-Dade appraiser’s sales history as of Oct. 7, so closing dates and recorded prices remain unconfirmed by the record. When they post, the stamps will show whether the reported prices hold. Demolition permits through the City of Miami Beach would be the next public signal of what gets built. More waterfront land coverage is on the South Florida hub.
On the record
What we checked ourselves, and where you can check it too.
- Public record1601 N View Dr sits on a 24,174 sq ft lot, built 1950; the last recorded deed is $21,000,000 on Oct. 28, 2024 (OR Book 34483, Page 2132) to 1601 North View LLC from the Phillip E. Walker TrustView the record on apps.miamidadepa.gov
- Public record6500 Allison Rd sits on a 21,600 sq ft lot with a 2026 assessed land value of $9,720,000; the roll still lists the Barbara B. Voight trust as ownerView the record on apps.miamidadepa.gov
Sources
- The Real DealTwo waterfront teardowns trade in Miami Beach for over $50M after bidding wars (Oct. 7, 2026)
- Miami-Dade Property Appraiser, folio 02-3228-001-03301601 N View Dr record: lot, year built, 2024 deed
- Miami-Dade Property Appraiser, folio 02-3211-003-03606500 Allison Rd record: lot size, 2026 land value