A nearly half-acre waterfront lot at 10312 West Broadview Drive in Bay Harbor Islands sold Tuesday, July 28, for $18 million, a price that likely sets a record for undeveloped land in the small island town, according to The Real Deal.

The buyer, Winston Bay Harbor, an affiliate of David Burstyn's Winston Capital Management, plans to build a spec home (a house built without a committed buyer) on the north-facing lot. The off-market deal works out to $914 per square foot.

The same property traded for $12.3 million in 2023. That's a 46% jump in roughly three years.

Who's involved

Burstyn, CEO of Miami-based Winston Capital, is also co-founder of Redwood Dev Co, a workforce housing developer with more than 4,000 units in its pipeline, according to the firm's website. Priscilla Burstyn of the Baron Agency represented the buyer. Zalmy Shapiro and Joel Lusky of the Brokerage South Florida, alongside Jordan Karp of Jordan Karp LLC, represented the seller — a family trust whose trustee, Noah Burton, signed the sale agreement recorded in May.

A pattern on West Broadview Drive

The $18 million land sale is the latest in a string of high-dollar transactions along the same waterfront corridor. Also in 2026, developer Menachem Kranz sold the 8,000-square-foot home at 9640 West Broadview Drive for $21.8 million, setting a per-square-foot record for Bay Harbor Islands at $2,700 per square foot. A 10,450-square-foot mansion at 9720 West Broadview Drive hit the market in July for $36.5 million.

Bay Harbor Islands' priciest single-family home sale on record remains the 2024 trade of the eight-bedroom, 10-bathroom home at 9520 West Broadview Drive, which sold for just under $22 million.

Broader luxury surge

The transaction fits a countywide trend. In the first half of 2026, 24 condos and single-family homes in Miami-Dade County closed above $30 million — nearly double the same period in 2025 — putting the market on pace to surpass last year's record of 33 such sales, according to data from Analytics Miami reported by Insurance Journal. Miami-Dade logged more $30 million-plus deals (24) than New York City (17) in that span.

International buyers are also circling the neighborhood. In March, Brazilian soccer legend Ronaldo Luís Nazário de Lima paid $7.8 million for a penthouse at Onda, a waterfront condo at 1135 103rd Street in Bay Harbor Islands. Earlier in 2026, fellow Brazilian star Kaká paid $8.7 million for a unit at Oceana Bal Harbour, according to The Real Deal.

"The super high-end market, $20 million, $30 million-plus, there's just not enough inventory for the amount of people I'm showing houses to," Douglas Elliman agent Oliver Lloyd said on July 20, after closing the sale of Floyd Mayweather's former Palm Island mansion. "These people want big houses, best lots, new, turnkey."

What's next

Winston Capital has not announced a timeline for the planned spec home, and no permit filing has been reported. Residents along West Broadview Drive can expect continued construction activity as developers target the corridor's deep-water lots for new luxury builds.