Winston Capital's Bay Harbor Islands buy not yet in county record
The Real Deal reports an $18M Winston Capital buy of a Bay Harbor Islands teardown lot. Our own appraiser pull could not yet confirm the price or the transfer.
An affiliate of David Burstyn’s Winston Capital Management has agreed to buy a vacant waterfront lot at 10312 West Broadview Drive in Bay Harbor Islands for a reported $18 million, The Real Deal reported, with plans for a spec home. Our own check of the Miami-Dade Property Appraiser’s record confirms the parcel and its prior owners but had not yet picked up the transfer, so we are not asserting the price as fact.
Why it matters
A record land price in a half-square-mile island town is a signal for every builder pricing waterfront teardowns nearby, but only if the number is real. TRD’s own account says the deal was struck off-market through an agreement recorded in May and closed this week, which means the deed may simply not have hit the county’s index yet. That gap between a reported closing and a recorded instrument is common on fast-moving luxury land deals and is exactly why we check the record before repeating a number.
The numbers
Miami-Dade’s appraiser folio 13-2227-001-4240 shows the site as 19,688 square feet with 110 feet of frontage, legally described as the westerly half of Lot 35 and all of Lot 36, Block 23 of the Bay Harbor Island plat. The 2026 assessed value is $11.8 million. The last recorded, qualified sale was $12.25 million on November 2, 2023, itself up from $4.65 million in 2020. TRD’s $18 million figure would work out to roughly $914 per square foot, a steep premium over the 2023 basis that we could not independently substantiate against nearby waterfront comps.
What’s next
We will watch the clerk’s official records for the deed and documentary stamps, which at Florida’s $0.60-per-$100 rate would confirm or correct the reported price once it posts. More South Florida coverage as the record catches up to the reporting.
On the record
What we checked ourselves, and where you can check it too.
- Public recordOur own pull of the Miami-Dade Property Appraiser record for folio 13-2227-001-4240 still lists the prior owners, Noah Burton as trustee and the ML Milano 2022 Family Trust, from their November 2023 purchase at $12.25M. No transfer to Winston Capital or an affiliate had posted to the county's official ownership record as of this writing.View the record on apps.miamidadepa.gov
Sources
- The Real DealDavid Burstyn's Winston Plans Bay Harbor Spec Home