Pre-Construction · June 21, 2026

Palma vs 72 Park vs 72 Carlyle: The Complete Lefferts North Beach Buyer's Guide 2026

One developer. Three towers. $730 million invested in North Beach. We break down exactly how Palma, 72 Park, and 72 Carlyle compare on price, design, rental income potential, and long-term appreciation — so you can decide which Lefferts project fits your investment strategy.

By Condo Invest Miami Research · Editorial & market research · 11 min read

One Developer, Three Towers, One Neighborhood Bet

When Lefferts founder Mendy Chudaitov first flagged North Beach as an undervalued opportunity in 2019 — after a voter-approved FAR increase in the North Beach Town Center district in 2017 — Miami’s luxury developers largely ignored the area. Six years later, Lefferts has committed approximately $730 million across three projects along a single stretch of 72nd Street. That level of concentration makes it the most aggressive single-developer play in any Miami Beach neighborhood this cycle.

Each tower targets a different buyer and price point. This guide dissects the differences so you can decide which exposure fits your strategy.

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The Three Projects at a Glance

· 72 Park · Palma Miami Beach · 72 Carlyle

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Address · 580 72nd St · 600 71st St · 600 & 650 72nd St

Status · Completed (2025) · Under Construction · Pre-Construction

Stories · 22 · 14 · 19–20

Units · 206 · 126 (incl. 7 PH) · 134 (incl. PH)

Size Range · 470–1,177 SF · 405–1,342 SF · Up to 3BR + PH

Starting Price · From $665K (resale) · From $650K · From $1.8M

Architect · Arquitectonica · Built Form · Arquitectonica

Interiors · — · Studio Ramirez · Piero Lissoni

Sales Agent · Cervera · Cervera · Eklund–Gomes / Douglas Elliman

Rental Policy · No restrictions (first STR-approved in MB) · No restrictions · No restrictions

LEED · Yes · Gold · TBD

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72 Park: The Pioneer (Completed)

72 Park rewired the neighborhood’s investment thesis by becoming the first luxury condo tower in Miami Beach approved for short-term rentals. That regulatory win changed what investors expect from North Beach.

Completed in early 2025, the building rises 22 stories at 580 72nd Street and contains 206 units from 470 to 1,177 SF. Arquitectonica is the architect. Amenities occupy nearly an acre and include a rooftop pool, Ezio’s Steakhouse (imported from Brooklyn by Chef Carlo Mirarchi), and Atlantic views from the upper floors.

As the only finished Lefferts asset, 72 Park lets buyers verify the product, test HOA performance, and start generating rental income immediately. Resale prices currently sit between approximately $665K to $2.1M, and the market already prices an STR premium. If you need cash flow from day one, 72 Park is the lowest-risk entry in this trio.

Best for: Investors seeking immediate income, buyers who want to see before they buy, short-term rental operators.

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Palma Miami Beach: The Mid-Market Sweet Spot (Under Construction)

Palma sits squarely in the middle of Lefferts’ playbook and offers the cleanest pure-investment proposition. At 600 71st Street — one block south of 72nd — Palma delivers 126 fully furnished, finished residences from 405 to 1,342 SF, including 7 penthouses, with prices starting at $650K.

The project stacks amenities and policy benefits that rarely come together:

Fully turnkey delivery with Bosch appliances, European cabinetry, and Studio Ramirez interiors included in the price
No minimum rental restrictions, including Airbnb and VRBO
LEED Gold certification, which trims operating costs and attracts ESG-minded buyers
~50% pre-sold at groundbreaking (December 2025), with 64% of buyers from South America — a clear signal of international demand
Deposit structure: 10% reservation, 10% contract, 10% top-off, 70% at closing

Construction began in December 2025 and the project targets completion in late 2027. For investors who want a sub-$1M, move-in-ready Miami Beach residence with STR upside, Palma offers the most accessible route into the Lefferts portfolio.

Best for: First-time pre-construction buyers, Airbnb investors, buyers seeking turnkey delivery under $1M.

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72 Carlyle: The Flagship (Pre-Construction)

72 Carlyle is Lefferts’ bid for prestige. Arquitectonica handles the architecture and Piero Lissoni the interiors — a pairing that justifies a material market premium. The building will rise 19–20 stories at 600 and 650 72nd Street and deliver 134 residences ranging from 1 to 3 bedrooms plus penthouses, with pricing starting at $1.8 million.

The program targets buyers who demand a signature address: 10-foot ceilings, floor-to-ceiling impact glass, and Lissoni’s restrained material palette throughout. Sales run exclusively through Fredrik Eklund of the Eklund–Gomes Team at Douglas Elliman Development Marketing, a team that typically manages Miami’s highest-profile launches.

At $1.8M and above, 72 Carlyle aims at a different buyer than Palma or 72 Park: the end-user who wants the best local address or the investor betting North Beach will narrow the gap with South Beach over a decade. Piero Lissoni-branded product in comparable markets (Surfside, Coconut Grove) has appreciated 20–40% above non-branded peers, suggesting the premium could pay off for long-term holders.

Best for: End-users, long-term appreciation investors, buyers who want the Piero Lissoni brand premium.

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Price-Per-Square-Foot Comparison

Project · Entry Price · Entry Size · Price/SF · Delivered

--- · --- · --- · --- · ---

72 Park (resale) · ~$665K · 470 SF · ~$1,415/SF · Furnished (resale varies)

Palma · $650K · 405 SF · ~$1,605/SF · Fully furnished + finished

72 Carlyle · $1.8M · ~900 SF (est.) · ~$2,000/SF · TBD

On a price-per-SF basis, Palma sits between 72 Park resales and 72 Carlyle pre-construction — and it arrives fully furnished, which adds roughly $80–120K of value that the headline price does not reflect.

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Short-Term Rental Income Potential

All three Lefferts projects allow short-term rentals, making them eligible for Airbnb and VRBO. North Beach’s walkable access to the ocean, Bal Harbour Shops, and the Miami Beach Bandshell supports strong seasonal demand.

Comparables suggest:

Studio/1BR (405–470 SF): $150–250/night; ~$40K–60K gross annual at 65% occupancy
2BR (900–1,177 SF): $250–400/night; ~$65K–95K gross annual at 65% occupancy
Penthouse (1,300+ SF): $500–800/night; $120K–180K gross annual at 55% occupancy

After HOA fees, management, and taxes, net cap rates typically fall in the 4–6% range for well-run STR units in this submarket.

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Location: North Beach’s Transformation

All three projects cluster within a 3-block radius in North Beach, a market that historically traded at a 30–40% discount to South Beach and Surfside. Lefferts’ thesis: the discount reflects a lack of quality inventory, not a locational deficit.

Development and amenity catalysts include:

72nd Street Community Complex (planned): public pool, library, gymnasium, open space
Miami Beach Bandshell: established cultural venue
Normandy Shores Golf Club: walkable from all three projects
North Shore Park: 40-acre oceanfront park
Brightline expansion discussions: potential connectivity to Downtown Miami

If North Beach closes even half the price gap with South Beach over the next decade, the upside across all three Lefferts projects would be meaningful.

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Which Project Is Right for You?

Buyer Profile · Best Fit

--- · ---

Immediate cash flow / STR operator · 72 Park (completed, proven)

First-time pre-construction / budget under $1M · Palma (turnkey, LEED Gold)

End-user / long-term appreciation · 72 Carlyle (Piero Lissoni, $1.8M+)

International buyer (South American) · Palma (64% of buyers from SA)

Luxury collector / brand buyer · 72 Carlyle

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Frequently Asked Questions

Are all three Lefferts North Beach projects approved for short-term rentals?

Yes. 72 Park was the first luxury condo tower in Miami Beach to receive STR approval, and both Palma and 72 Carlyle carry the same no-minimum-rental policy. This makes all three projects eligible for Airbnb, VRBO, and other short-term rental platforms.

What is the deposit structure for Palma Miami Beach?

Palma requires 10% at reservation, 10% at contract signing, 10% at top-off (structural completion), and 70% at closing. This is a standard 30% pre-closing deposit structure typical for Miami pre-construction.

Is 72 Carlyle worth the premium over Palma?

For end-users and long-term holders, yes. Piero Lissoni-branded product has consistently commanded 20–40% appreciation premiums over non-branded peers in comparable Miami submarkets. For short-term investors focused on cash flow, Palma's lower entry price and immediate turnkey delivery offer a stronger near-term return profile.

When will Palma Miami Beach be completed?

Palma broke ground in December 2025 and is expected to complete in late 2027. Approximately 50% of units were pre-sold at groundbreaking, with 64% of buyers from South America.

Is North Beach a good long-term investment compared to South Beach?

North Beach currently trades at a 30–40% discount to South Beach on a price-per-SF basis. The Lefferts $730M investment, the planned 72nd Street Community Complex, and improving retail and dining infrastructure are all catalysts for closing that gap. For buyers with a 5–10 year horizon, North Beach offers the highest appreciation upside of any Miami Beach submarket.