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joint venture between Russell Galbut's GFO Investments and David Martin's Terra sold a 5,888-square-foot penthouse at Five Park in Miami Beach for $17.5 million to an LLC associated with Patrick Dovigi's GFL Environmental. The purchase is part of Dovigi's active real estate dealings in South Florida, which include a recent $27.5 million home purchase and a $69.5 million mansion sale.

    The penthouse, located at 500 Alton Road, features four bedrooms, six-and-a-half bathrooms, and an 1,868-square-foot wraparound balcony. Douglas Elliman's Chris Wands and Charlotte Maietto brokered the deal, but declined to comment. The unit was originally listed for $20 million or $3,397 per square foot.

    Dovigi, a waste management mogul, is familiar with South Florida real estate. In April, he paid $27.5 million for a waterfront estate on the Sunset Islands in Miami Beach. He also sold a partially built Bal Harbour mansion for $69.5 million earlier this year, setting a record in the village.

    Five Park, completed last year, is the tallest building in Miami Beach with 227 units and over 50,000 square feet of amenities. Other notable owners in the building include developer Diego Bonet, biotech fund manager Daniel Krizek, and Stephanie Dorrance, ex-wife of Campbell's Company heir John Dorrance.