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.
According to the Wall Street Journal, Jorge Luis Garcia, former owner of Orlando Family Physicians, and his adjoining neighbors, Juan Miguel Almeida and Adria Adrian Almeida are listing their Palm Island properties for a combined $150,000,000.
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, which was owned by Barbara Walters’ father, Lou, and is said to have been frequented by the likes of Frank Sinatra and Jane Russell.
Garcia reportedly owns two of the $50 million properties, with his neighbors owning the other, and they’re selling them as a package deal. But even if they were to list independently, the asking prices stand out for the area, as Palm Island’s record sale price for a single-family residence is $32 million.
But 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.
#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.
And while the trio of properties currently stands as one of the priciest residential listings in all of Florida, surpassed only by $187 million newly built mansion in Palm Beach, 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 bring this Miami Beach enclave into the spotlight, alongside more hyped areas like Star Island or Indian Creek, both holding headlines recently due to notable sales. Spearheading the efforts to make that a reality is Cesar Powell with Coldwell Banker Realty Miami Beach, who holds the listing.
And while the sellers aren’t at all interested in splitting it into three separate listings, we’d be remiss if we didn’t ask: Which one of the three properties do you like the most?
The article Three neighboring properties in Miami Beach eye $150 million sale first appeared on Fancy Pants Homes.