Florida’s luxury real estate market is heating up like a jet ski on a hot summer day. And three smart South Florida neighbors decided to cash in on that.
They’ve combined their properties — located on Miami Beach’s sought-after Palm Island — into one massive waterfront compound with three mansions (over 35,000 square feet of living space) and about 300 linear feet on the water, with multiple yacht docks.
And while they didn’t get any bites when the listing first landed on the market in late 2023 with a $150 million ask, the market conditions might just prove more favorable the second time around.
Located on the upscale Palm Island in Miami Beach, the 3-home compound is relisting at a time when South Florida’s luxury real estate market is experiencing significant activity, with skyrocketing prices and high-profile listings (including a newly listed $285 million spec mansion in Manalapan that’s now the most expensive home for sale in the entire country).
Get your property news in real time: Follow us on Google News
The Miami Beach compound was first listed in late 2023

A little over a year ago, the Wall Street Journal reported that Jorge Luis Garcia, former owner of Orlando Family Physicians, and his adjoining neighbors, Juan Miguel Almeida and Adria Adrian Almeida were listing their Palm Island properties for a combined $150,000,000.
Garcia reportedly owns two of the $50 million properties, with his neighbors owning the other (listed as a trust) and they’re selling them as a package deal.
If they were to list independently, the asking prices are quite fitting for the area, where listings priced under $15 million are outliers. At the time of writing, out of about a dozen properties publicly listed for sale on Palm Island, half of them are priced between $30 and $45 million, and another two are hoping to fetch $60 million.
Relisted now amid a booming South Florida luxury real estate market

The properties, taken off the market in mid-2024, are relisting at a time when South Florida’s luxury real estate market is thriving, fueled by growing prices and high-profile listings.
On a granular level, Palm Island prices have been shooting up, and the neighborhood has recently seen its highest-ever sale for a single-family residence. The new $40 million record was set just last year by a newly built waterfront home that dethroned the previous $32 million set in February 2023.
And the whole of South Florida is now leading the luxury real estate market scene, with $40, $50, and $60 million listings dropping every other week. Just in the past couple of months, we’ve seen a $79 million oceanfront mansion list in Manalapan (soon after followed by the $285 million spec mansion in the same locale), a North Palm Beach megamansion list for $59.5 million, and a glam Ferrari mansion land on the market for $55 million.
Word has it that even Tom Brady might be considering taking advantage of the booming market, and is quietly floating his newly built home in the ultra-exclusive Indian Creek Island on the market to the tune of $150 million.
And considering Jeff Bezos recently dropped $90 million to buy out his neighbors in a third deal — bringing his purchases on the island up to 237 million, just shy of a quarter billion dollars — it might not be the worst idea to list.
Three waterfront homes priced at $150 million

Combining the properties definitely adds to the appeal of the offering.
Beyond bringing their ocean frontage up to 300 feet, the offering allows the right buyer to acquire several existing, already-built properties together — an option that’s becoming increasingly rare in greater Miami.
So let’s take a closer look at each of the three South Florida properties, currently offered as a package deal for a whopping $150 million.
Located on Miami Beach’s upscale Palm Island

The three waterfront properties — adjacent to each other — are located on the 82-acre gated Palm Island, a man-made island in Biscayne Bay, Florida, famous for its Latin Quarter nightclub. Said nightclub, which was owned by Barbara Walters’ father, Lou, was frequented by the likes of Frank Sinatra and Jane Russell.
The island was developed in the 1920s and became a haven for wealthy business tycoons, socialites, celebrities, and politicians over the years. Notable residents have included Al Capone, actor Nick Nolte, musician Gloria Estefan, and more.
#1 190 Palm Ave, Miami Beach

The largest of the three residences, 190 Palm Avenue offers 12,386 square feet of luxuriously appointed living space.
With a total of 7 bedrooms, 8 bathrooms, and 3 half bathrooms, the stately house pairs Mediterranean-style architecture with elegant, modern interiors.



#2 198 Palm Avenue, Miami Beach
While just a tad smaller than the neighboring house, at 11,650 square feet, 198 Palm Avenue is equally luxurious.
This one comes with 8 bedrooms, 9 full baths and 2 half baths, and sits on a 30,000-square-foot lot.


#3 210 Palm Avenue, Miami Beach
The third and last house has similar characteristics, clocking in at 11,349 square feet, with 6 bedrooms, 8.5 bathrooms, and a 30,000 sq. ft. lot.
Just like its neighbors, it has 100 feet of ocean frontage and has been meticulously appointed with the finest luxury finishes.

The latest in a series of uber-expensive Florida listings

And while the trio of properties currently stands as one of the priciest residential listings in all of Florida, surpassed only by the upcoming $285M Manalapan mansion, the $210M Gordon Pointe estate in Naples (which just dropped $85 million off its asking price), and another beachfront home in Naples priced at $175M, they wouldn’t set a new state record even if they were to sell at full ask.
The record for the most expensive home sale in Florida is held by billionaire Larry Ellison’s $173 million purchase of the Gemini mansion, the former Ziff family estate in Manalapan.
Nevertheless, the future sale will likely set a record for Palm Island (and for Miami Beach) and bring this enclave into the spotlight, alongside more hyped areas like Star Island or Indian Creek, both holding headlines recently due to notable sales.
One of the country’s leading real estate agents holds the listing

Spearheading marketing efforts for the $150 million Palm Island compound is star agent Fredrik Eklund of Douglas Elliman, best known outside of real estate circles as the star of Million Dollar Listing NY and later Million Dollar Listing Los Angeles.
His Eklund | Gomes team, which he started alongside top producer John Gomes, is one of the leading real estate teams in the nation.
More stories
That house Jimmy Butler is renting for $70k/month? You can buy it for $30 million
At $49M, a race car driver’s former home is Jupiter, Florida’s most expensive listing