Waterfront Estate on Hibiscus Island Sells For $51.5 Million Setting New Record on Miami Beach's Palm and Hibiscus Island

A waterfront estate at 270 S. Hibiscus Drive has sold for $51.5 million, setting new records for both sale price and price per square foot on Miami Beach's guard-gated Hibiscus and Palm Islands. The transaction surpassed the previous record sale of approximately $40 million, despite that property encompassing a larger residence on a larger lot. The home uniquely features include a full-size Ferrari Testarossa replica suspended in the main living area as a sculptural centerpiece.

Dora Puig of Luxe Living Realty represented the buyer in the transaction. Jordan Karp of Jordan Karp LLC represented the seller.

"This sale reflects where Miami Beach's luxury market is today," said Smykalov. "Buyers continue to recognize the value of exceptional design, craftsmanship and waterfront locations. Properties of this caliber rarely become available, and demand remains strong when they do."

The property, which was recently completed, is coming to market for the first time since the seller acquired it as an unfinished shell in 2021. Rather than simply complete the original plans, the residence was reimagined through a joint venture led by Luis Bosch, founder of Luis Bosch Luxury Homes, who oversaw the home's redesign and construction, and managed by Denis Smykalov of Wolsen Real Estate.

The estate combines two waterfront lots totaling approximately 21,000 square feet, with 120 feet of water frontage, and offers more than 10,000 square feet of living space. The residence includes five bedrooms, a maid's quarters, six full bathrooms, two half bathrooms, a private office and a fitness center. Additionally, it is one of the few homes in Miami Beach that features two private docks. The docks are capable of accommodating a yacht measuring up to approximately 105 feet.

One of the home's defining features is a fully soundproof private nightclub with its own private entrance, allowing it to function independently from the main residence. Designed for entertaining, the space includes professional nightclub lighting, laser effects, disco balls and a dedicated air conditioning system. An oversized pool cabana bathroom with two toilets was also designed to accommodate large gatherings.

Originally designed by a local architect, the residence was later reimagined by SAOTA, the internationally acclaimed South African architecture firm formerly known as Stefan Antoni Olmesdahl Truen Architects, with interiors by fellow South African design firm ARRCC and landscape architecture by renowned landscape architect Raymond Jungles.

Bosch, who has spent more than 20 years building luxury waterfront residences throughout Miami Beach, assembled a team of architects, designers and craftsmen to execute the project.

"Our goal was to create a home that would stand the test of time," said Bosch. "Every finish, every material and every design decision was carefully considered. We focused on quality at every stage of construction to create a residence that feels as exceptional today as it will decades from now."

Craftsmanship is evident throughout the residence. Walls are wrapped in custom millwork incorporating multiple exotic wood species, while the kitchen features handcrafted cabinetry by Bon Vivant Custom Woodworking, a South Florida company specializing in custom architectural millwork since 1981. The home also features Bronze Armani stone, shellstone and multiple varieties of natural marble throughout. Hand-selected travertine was sourced from Rome specifically for the project, while the infinity-edge pool is finished with Bali stone imported from Indonesia. A custom powder-coated steel and aluminum exoskeleton further distinguishes the home's engineering and construction.

The record-setting sale reflects the strong demand for newly completed waterfront residences on Hibiscus and Palm islands, where limited inventory and architecturally significant homes continue to command premium values.

Images via 1 OAK Studios

Past PROFILEmiami articles about homes on Palm and Hibiscus Island:

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Choeff Levy Fishman Architects-Designed Hibiscus Island Tropical Modern Estate Lists For $37.5 Million

320 S. Hibiscus Drive on the guard-gated enclave of Hibiscus Island in Miami Beach has hit the market for $37.5 million, listed with The Jills Zeder Group. The home includes seven bedrooms and seven-and-one-half bathrooms spread over 7,818 square-feet of living space with 90 feet of prime waterfront along azure Biscayne Bay. 320 S. Hibiscus Drive is a recently completed waterfront spec home in which the land was acquired for $11.6 million before being split into two parcels in October 2018 after the former owners donated the property to Mt. Sinai Medical Center.

Sleek and elegant, the Bayfront estate was designed to evoke an indoor-outdoor oasis by modernist-masters Choeff Levy architects. Pairing the best of tropical-inspired luxury with a contemporary, cosmopolitan lifestyle, 320 S. Hibiscus Drive is ideal as a forever home or exquisite holiday hideaway. Eco-friendly touches like solar panels help solidify the estate’s environmental footprint.

Perched on a meticulously landscaped 15,750 square-foot lot, the home is bathed in soothing natural light streaming throughout from towering floor-to-ceiling glass doors. Distinctive design details abound throughout the estate – from organically-inspired porcelain-tile and natural oak floors to custom-crafted wallpaper and lush, rainforest-like landscaping.

The home’s first floor is ready-made for memorable celebrations and gatherings. Beyond the gated private entrance — which is followed by an entrance waterfall and decorative pools — a sprawling great room effortlessly combines a large family/media center, dining room and open-plan chef-quality kitchen. A 108-bottle wine cabinet and cozy cocktail lounge add a dose of ready-made glamor – all fronted by panoramic water views with direct access to the outdoor infinity-edge pool and landscaped, sun-flooded gardens. The first-floor guest-bedroom/office, staff bedroom and fully-equipped catering kitchen accent the estate’s endless array of amenities, which includes a beautiful wood-paneled elevator.

The second floor is accessed by a show-stopping floating glass-and-wood staircase while the grand premier suite is like a world unto its own. A large sitting area accents this ultra-private oasis, which includes its own terrace and indulgent plunge-pool. A pair of oversized walk-in closets, spa-inspired bath with deep oval soaking tub, must-have midnight bar and double rain shower complete the suite’s resort-like atmosphere.

On the top floor, there are four additional bedrooms – all with en-suite baths, floor-to-ceiling windows, walk-in closets, fully-motorized shades and their own terraces.

The outdoor elements are as exceptional as its indoors and equally suitable for intimate gatherings as well as large-scale events. Tropical landscaping provides a verdant backdrop for an infinity-edge pool and tranquil waterfall – along with a chic porcelain-tile pool deck and sensational summer kitchen complete with grill, ice-maker, refrigerator and sink.

An al fresco dining table effortlessly draws the eye to both Biscayne Bay and the Miami skyline further on. On the serene waters just beyond, the large on-site dock is ideal for boaters and anglers — fully equipped for both maximum enjoyment and effortless access to the Atlantic Ocean. And the estate is capped by roof-top solar panels powerful enough to run the entire home by sunlight during the day. A separate fully-air-conditioned two-car garage was built to easily accommodate lifts for an additional pair of vehicles.

320 S. Hibiscus Drive is set on one of Miami’s most exclusive and prestigious islands a short drive from the city’s top commercial, cultural and culinary corridors including South Beach, the Design District, the Wynwood Arts Center and the Miami International Airport. A longtime favorite of leading global business and cultural luminaries, the 24-hour guarded location is only accessible via a small bridge extending from the palm-lined MacArthur Causeway.

Images via 1OAK Studios & The Jills Zeder Group

Check Out This Hibiscus Island Home Which Just Sold For Non-Waterfront Record $5.1 Million

185 S Hibiscus Drive has sold for $5.1 million, setting a record ppsft for a non-waterfront home in the ritzy guard-gated neighborhood of Hibiscus Island. Per public record, the buyer is Brad Pitt's manager Cynthia Pett-Dante. Dina Goldentayer and Joseph Schafer with Douglas Elliman represented the seller and Jordan Karp of Jordan Karp LLC represented the buyer.

The completely renovated modern home is nestled in the tropical and highly coveted Hibiscus Island. Situated on a 9,500 SF corner lot, the open floorplan home with features multiple sitting areas and gorgeous millwork as well as custom build-ins throughout. A sleek kitchen by Italkraft with an oversized chef's island, European cabinetry, & marble counters by Opustone offer an elevated dining experience. The primary suite is appointed with 2 walk-in closets, steam shower + soaking tub, and its own terrace.

The lush outdoors features a new heated saltwater swimming pool, sundeck, and privacy landscaping. Hibiscus Island is a 24/7 guard gated community with tennis and basketball courts, playground and is in proximity to South of 5th & Downtown Miami.

Images via Become Legendary / Dina Goldentayer

Miami Heat Star Victor Oladipo Lists Hibiscus Island Contemporary For $10 Million Amidst NBA Finals

Amidst being locked in a battle for the NBA Finals, Miami Heat all-star player Victor Oladipo has listed his Hibiscus Island home in Miami Beach home for nearly $10 million. The home is situated on an expansive corner lot within the prestigious guard-gated Hibiscus Island in Miami Beach. Unlike typical lots on the island, this property encompasses one and a half lots, offering a larger land size and an impressively spacious home. With 14,375-square feet of land and 6,491-square feet under air, the meticulously designed home was built in 2020 offering 7 bedrooms and 7 bathrooms, including a guest house.

The open floor plan contains soaring ceilings and panoramic doors that seamlessly connect the interior with the exterior. The gourmet kitchen is equipped with top-of-the-line Thermador and Wolf appliances, complemented by custom cabinetry. The primary suite offers a tranquil retreat, complete with a spa-like ensuite bathroom and two spacious walk-in closets. Additional ensuite bedrooms provide both comfort and privacy for residents and guests.

The outdoor living area is thoughtfully designed for ultimate relaxation and entertainment. Find a large sparkling pool and plenty of outdoor seating arrangements and space for lounging or dining al fresco.

Hibiscus Island offers residents a range of amenities, including a waterfront park, tennis and basketball courts, playgrounds, and a 24-hour police officer stationed at the main entrance. The Hibiscus Drive home is listed for $9.995 Million by Liz Hogan with Compass.

Images via Liz Hogan of Compass

Sabal Development Sells Waterfront Miami Beach Spec Home For $16 Million On Hibiscus Island

Sabal Development, an award-winning Miami-based builder and developer who specializes in luxury custom homes, has sold a newly constructed 5,243-square-foot waterfront spec home on a 0.24-acre lot located at 79 N Hibiscus Drive, Miami Beach, FL 33139 for $16 million.

“We are pleased to sell this impressive waterfront property in Miami Beach’s exclusive Hibiscus Island for $16 million,” said Pascal Nicolai, CEO and Founder of Sabal Development. “Miami continues to be a hot real estate market, and we take pride in creating homes that offer modern, luxury living.

Located within the exclusive Hibiscus Island, this stunning waterfront home was built in 2022 and overlooks the pristine Biscayne Bay. Built by Sabal Luxury Builder with interior design by TOGU Design, the home includes five bedrooms, five full bathrooms and one powder room. The home’s impressive elements include an open dining area with a spacious chef’s kitchen, a full suite of Miele appliances, solid oak wood furnishings, Cotto d'Este tile throughout and Toto and Kohler fixtures in each bathroom.

Lourdes Alatriste of Douglas Elliman represented the seller, Pascal Nicolai, founder and CEO of Sabal Development and Sabal Luxury Builder. Marko Gojanovic and Reid Heidenry of ONE Sotheby’s International Realty represented the buyer, Alejandro Montealgre.

Sabal Development Sells Hibiscus Island Spec Home For $15 Million To Cosmetics CEO

A brand new tropical modern waterfront spec home by Sabal Development at 165 North Hibiscus Drive on Miami Beach’s Hibiscus Island has sold for $15 million to the CEO of Farmasi North America. Per public record, Marko Gojanovic of ONE Sotheby’s International Realty and Alejandro Diaz Bazan of Jills Zeder Group represented the buyer, Sinan Tuna, while Dora Puig with Luxe Living Realty represented the seller, developer Pascal Nicolai.

165 North Hibiscus Drive was designed by Togu Design and spans 5,217 square feet of interior on 10,500 square foot lot with 60’ of waterfront. The 5-bedroom , 5.5 bathroom home features a reflecting pond, a private 2 car garage, cotto’d’este tiling, full suite appliances by Miele, wine cellar, illumination by Delta Light, and freestanding soaking bathtub. Outdoors features two waterfront pools, a rooftop deck, terrace, and dock which can accommodate a yacht as large as 50’.

Check Out DJ Khaled's $34 Million Daycation Mansion On Miami Beach's Hibiscus Island

DJ Khaled spent the day in this luxurious mansion in Magic City. Khaled relaxed in a $34.5 million waterfront Miami Beach mansion on Ritzy Hibiscus Island featuring 5 bedrooms, a home theatre and dock fit for a yacht (or a fleet of jet skis). The impeccably-designed modern oasis boasts nearly 11,000 square feet of space and is admirably designed to enjoy the serenity and beauty of island living.The home located at 370 South Hibiscus is listed for sale by Sonia Gherardi with ONE Sotheby’s International Realty.

Upon arrival DJ Khaled pulled up in his custom Rolls Royce convertible wearing Jordan brand attire from head-to-toe and a smile on his face. As he unlocked the door, the star immediately went to his Instagram fans to display the lavish home. From lounging in a modish banana couch and unwinding in a playroom set-up just for Asahd, to overlook his expansive view with a topsy turvy staircase and more.

With the sunny Miami weather it is never complete without taking it to the sea.Offering a sneak peek into a ONE Sotheby’s mega mansion that served as his perfect playhouse, DJ Khaled threw on his swim trunks with matching Polo accessories and took to the water to channel his inner child. Doing high-speed tricks and jet ski wheelies up Biscayne Bay, this top-charting artist proved that he is settling into his new zip code in style.

Article by Katya Demina | Images Courtesy of Sonia Gherardi with ONE Sotheby’s International Realty

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Property Donated To Mt. Sinai Medical Center On Hibiscus Island Sells For $11.6 Million

320 S Hibiscus has sold for 11.6 million after the former owners donated the luxurious property to Mt. Sinai Medical Center. Douglas Elliman agents Eloy Carmenate and Mick Duchon agreed to a very reduced commission to represent the sale and all proceeds and most commissions earned will be donated to the hospital. 320 S Hibiscus Drive was donated to Mount Sinai Medical Center Foundation in 2003 via a life estate by the previous owners, who believed in enhancing the well-being of the community by supporting the medical center’s mission. The buyer, who was represented by Natalia Gryczynska of Douglas Elliman Real Estate, plans to develop 2 homes on the site. The property was originally listed for $13,950,000.

Founded in 1949, Mount Sinai Medical Center is the largest independent, private, not-for-profit teaching hospital in South Florida. One of the original statutory teaching hospitals in the state of Florida, Mount Sinai is the hospital of choice for those who seek the level of expertise and care that only a teaching hospital can offer. Mount Sinai currently offers ten convenient locations in Miami-Dade County and two cardiology offices in Monroe County.

For more information about this property, private showings or purchasing information please fill out the form below:

Tour The Hibiscus Island Contemporary Designed By Choeff Levy Fischman To Combat Sea-Level Rise

When it comes to designing for the future in Miami, architects and developers must take steps to protect against the elements, storms, etc. which can cause rigors to the property. Progressive architects like Miami-based Choeff Levy Fischman are using climate change and sea level rise as an opportunity to make a statement and create a solution for the future.
 
One of the globally-acclaimed architect's newly completed luxury waterfront homes on Miami Beach’s Hibiscus Island addresses two of the area’s major issues; sea-level rise and low, regularly flooded streets. They did this by incorporating elaborate grade changes to create a significantly steeper driveway and dramatic front entryway stairs all while making the residence accessible from the street and exceeding base flood elevation requirements. They also designed a system to filter storm water on-site, and retained additional site fill required to raise the residence to 10’ NGVD – the FEMA required base flood elevation. 

Choeff Levy Fischman also designed the home to include several green features to help protect the home against Miami’s various natural elements including a full, onsite rainwater retention system. The architects designed a combination of swales, subsoil, and underground exfiltration trenches where water is cleaned, filtered and maintained on the property. The storm water is then naturally filtered and redirected to the City storm sewer. They also incorporated insulated glazing utilizing low-e film to minimize solar heat gain and glare. This green method also reduces energy impact costs, and a high Albedo roof membrane was installed to minimize heat and cooling loads. Choeff Levy Fischman also designed the south facing waterfront home to withstand hurricane winds, storm surges, and ongoing rising sea levels. The residence’s sea wall stands at 7.26 NGVD – the code requirement at the time of the design was 4.8 NGVD. The home also sits 22' to 26' away from the seawall, allowing for additional storm barriers. Choeff Levy Fischman anticipates forecasted sea level rise, and believes being proactive while practicing what they so often preach are just some ways these homes can sustain the test of time.

The home itself is a two-story, five-bedroom, five and a half bath residence that spans just short of 6,000 SF. They incorporated limestone flooring and accenting Cumaru wood throughout different areas of the home. The kitchen boasts carefully crafted Italian millwork and a designated bar area made of stained Italian Oak that comes with two Sub-zero wine coolers, one for reds, one for whites. Calacatta marble was integrated into the kitchen’s backsplash and countertops, and the kitchen island to brighten up the area. One of the signature features of the home are the pocketing sliding glass doors which blend indoor and outdoor living. They open to reveal a shaded limestone patio and pool area perfect for avoiding South Florida’s heat. 

Upstairs was uniquely designed with a floating master bedroom suite offering bay views, Brazilian Oak wood floors, and walls of white stucco and warm Cumaru. The master bath includes a large soaking tub that sits across from the balcony facing the water and a large gray marble shower with glass swivel door. 

Outside is an entertainment paradise complete with a bayside pool situated beneath the floating master bedroom suite and includes a cascading water feature. The grounds off a lush tropical ambiance with foliage including a Bamboo garden.

Enjoy the photo and video tours below:

Tour Casa Ischia, The Hyper-Luxe Hibiscus Island Contemporary Mansion by Choeff Levy Fischman

When it comes to contemporary luxury homes, there are few architects that can create a masterpiece like Choeff Levy Fischman. Casa Ischia, a rare gem designed by the starchitects, is available on the exclusive Hibiscus Island and is currently owned by former Formula 1 racer Eddie Irvine. Located at 428 S. Hibiscus Drive, Casa Ischia is the epitome of Tropical Modern design. The two-story residence’s design takes advantage of sweeping waterfront vistas at the rear of the home and provides a resort-style living environment. Expansive pocketing sliding glass doors, a staple of Choeff Levy Fischman, outfit the entire rear of the property. The pocketing sliders are incorporated with the open floor plan allows for unobstructed southwest views and indoor-outdoor living from almost any room both downstairs and upstairs. The home features seven bedrooms, seven bathrooms, and two powder rooms spread over 10,448 SF with an attached 761 SF three-car garage suite, and a 783 SF rooftop space for entertaining.
 
Finishes include warm materials such as Ipe wood and South American stone are used throughout the home in order to provide warmer elements for the modern architecture. The concept behind the design was tropical modern with a heavy influence of mid-century modern architecture. Structural elements were kept thin, and exterior faces were designed to be as wide open as possible in order to maximize views of Biscayne Bay. Unlike most modern-style residences, many of Casa Ischia’s interior walls are made up of limestone, adding a warm design element and unique texture to the home. The exterior features a trending mid-century-inspired sunken living room that sits beneath the level of the pool, a covered terrace that houses a summer kitchen with stone backsplash, dining and lounge area, and a pool and spa with steps designed to face the Downtown Miami skyline. Touches of stained South American Ipe and limestone decking create a warm, yet somewhat monochromatic aesthetic, which contrasts nicely with the blue tiles used in the pool and spa. 428 S. Hibiscus Drive is currently listed for $29,500,000 with Julian Johnston of Calibre International Realty.

Check-out our PROFILE Exclusive interview with Ralph Choeff and Paul Fischman, partners at Choeff Levy Fischman

Photos by Lifestyle Production Group