Deal Assessment - New Condo in Miami Beach

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Hey guys,

I am trying to asses the deal of a condo in 72 Park Miami Beach

https://72parkmiamibeachcondo.com/

The apartment is 1 Bedroom + 1 Den + 1 Bathroom 

755 Sq/f + 195 sq/f Balcony

14th Floor North facing

Price $1,150,000

The building is STR approved and these are the estimated income they sent me:

Daily Rate $530

80% Occupancy

$154,760 Yearly Rent

Management 20% - $30,952

HOA - $12,231

Property Tax - $20,826

Insurance - $1,087

Net Expenses: $34,144

Net profit $89,662 - %7.75

There isn't any other buildings like this in North Miami Beach that can really be compared to, I haven't found any data on AirDNA that can support such an income, and it seems like most new condos in the area are selling for $850 sq/f. 

I am trying to understand if this is a good deal, if anyone can give me "insider" insight into the likelihood of achieving such a return and in general what you guys think of this deal 

Thanks