Witkoff Sells Lot on Posh Stretch of Miami Beach at 200% Markup

The real estate firm founded by Steve Witkoff sold an empty land parcel on the Miami Beach waterfront for more than $24 million — triple what it paid five years ago.

The off-market sale also set a record for the highest price per square foot for a residential lot in the South Florida city, according to the broker on the deal, citing data from the multiple-listing service. Witkoff’s firm paid $8 million for the 17,700-square-foot (1,640-square-meter) site during the pandemic rush in 2020.