Bal Harbour investor Joseph Imbesi sold a waterfront property on the site of the former yacht club for $54.9 million. It was listed for $65 million.

The property features a 915-foot seawall, seven boat slips and has already been approved for a helipad. According to the listing, the docks can be demolished to make way for a super yacht.

Josep Imbesi acquired the site as part of a larger $19 million ...