A waterfront residence at 416 West San Marino Drive on the Venetian Islands sold for $42.5 million on July 13, 2026. The seller was Justin Korsant, chief executive of Long Light Capital. The buyer took title as 416 W San Marino LLC.
A waterfront house completed in 2025 at 416 West San Marino Drive sold for $42.5 million on July 13, 2026, the highest-priced Miami Beach residence to reach public records that day. The seller was Justin Korsant, chief executive of the family office Long Light Capital, who conveyed the property to 416 W San Marino LLC.
The residence spans approximately 6,400 square feet with five bedrooms and eight and a half bathrooms, placing the trade near $6,600 per square foot. The property last changed hands in 2024 at $23.1 million, before the current house was delivered. The spread between those two figures is the clearest available measure of what new construction is worth on the Venetian chain.
San Marino is one of six islands strung between Miami Beach and downtown along the Venetian Causeway, with roughly ninety waterfront parcels among them. Ground-up delivery has been the dominant source of pricing movement there for three consecutive years.