Waterfront Miami Beach double-lot previously linked to Zach Vella sells for $25M

A waterfront double-lot on the Venetian Islands in Miami Beach sold for $24.5 million, signaling increased interest in undeveloped residential land.  The property, previously tied to developer Zach Vella, sold with plans designed by SAOTA for an 11,000-square-foot mansion, according to the listing. Records show 228 West Dilido, a Delaware LLC managed by attorney John Penson, sold the half-acre site at 228 and 302 West Dilido Drive. Penson’s name also appears as the lender’s representative under Miami Beach-based Asset Recovery Services.  Vella planned to develop the SAOTA-designed home. The approved plans include a six bedrooms, eight bathrooms, four half-baths, a […]This article originally appeared on The Real Deal. Click here to read the full story.