In a move that underscores Miami Beach’s growing appeal to international sports icons, Alessandro Nesta, the celebrated Italian soccer coach and former defensive stalwart, has made a significant real estate investment in South Florida’s luxury market.
Nesta, widely regarded as one of the finest defenders in soccer history, and his wife Gabriela Pagnozzi have acquired three separate one-bedroom, 1.5-bathroom residences at Five Park Miami Beach. The prestigious development, standing 519 feet tall as the area’s tallest residential tower, represents the couple’s substantial bet on Miami’s evolving luxury landscape.
The three units, located on the 19th, 20th, and 24th floors of the building at 500 Alton Road, were listed at a combined $4.3 million. The final purchase price has not been disclosed.

A Strategic Location with Global Appeal

For Nesta, who most recently served as head coach of Serie A club Monza, the attraction extends beyond mere square footage. The former AC Milan captain points to Miami Beach’s “special energy” and emphasizes the “incredible connectivity” the South of Fifth location provides to the broader metropolitan area.
The residences, ranging from 878 to 1,000 square feet, feature chef’s kitchens outfitted with Italian oak cabinetry designed by Gabellini Sheppard. Two of the three units command ocean views, overlooking both the bay and adjacent parkland. Each residence includes a private terrace, maximizing the indoor-outdoor lifestyle that defines South Florida living.

A Building Drawing Athletic Elite

Nesta joins other sports professionals who have recognized Five Park’s value proposition. NBA forward Precious Achiuwa, who recently signed with the Sacramento Kings after stints with the New York Knicks and Miami Heat, also maintains ownership in the building.
Developed through a partnership between David Martin’s Terra and Russell Galbut’s GFO Investments, Five Park represents the South of Fifth neighborhood’s first new condominium development in over a decade. The project sits adjacent to the three-acre Canopy Park, reinforcing the development’s emphasis on wellness and outdoor accessibility.

Amenities Designed for High-Performance Living

The tower’s amenity package reflects a sophisticated understanding of modern luxury living. A sixth-floor oceanfront terrace hosts Café Flora, a poolside restaurant serving residents and their guests. The 26th floor features an exclusive residents-only social club, while additional spaces include a library, multiple outdoor terraces, and comprehensive gym facilities.
Professional and entertainment needs are addressed through co-working spaces and private screening rooms. A dedicated beach club rounds out the lifestyle offerings.
Arquitectonica served as the project’s architect, with interior design by Gabellini Sheppard. Douglas Elliman Florida manages in-house sales for the development. Nesta’s transaction was represented by Douglas Elliman’s Corrado Colini.
The acquisition reflects broader trends of international sports figures establishing meaningful footholds in Miami’s luxury residential market, drawn by the city’s tax advantages, cultural dynamism, and year-round climate.

Source: New York Post