‘Unparalleled’ 3-Mansion Compound on Miami’s Exclusive Palm Island Splashes Onto the Market for $150 Million

Florida’s luxury housing market has been blessed with another historic property—this time in the form of an extraordinary $150 million compound with three jaw-dropping mansions on the exclusive enclave of Palm Island.

Just one week after a pre-construction property in Manalapan, FL, made headlines with its $235 million price tag, another staggering real estate opportunity has emerged just 60 miles away.

The pricey property, which initially debuted in 2023, was relisted in 2024 at the same price. Now, with Florida’s luxury housing market experiencing a major boom, the compound is back on the market with the same sky-high price.

The listing agent is Fredrik Eklund, of “Million Dollar Listing New York” fame. He notes that the property is best suited for an “ultrahigh net worth individual who values privacy, exclusivity, and luxury.”

“Potential buyers might include high-profile individuals like celebrities or CEOs, investors, entertainers or hosts, or luxury lifestyle seekers,” he tells Realtor.com®.

“This offering appeals to those who prioritize exclusivity and are willing to invest significantly for a unique, turnkey luxury compound.”

The trio of homes was assembled by owner Jorge Luise Garcia and the Adria, Maria, Adrian Almeida Trust. They were purchased separately over a period of 17 years.

The first of the three mansions was purchased in 2004 for $3.45 million, the second in 2019 for $13.9 million, and the third in 2021 for $17 million, for a total of $34.35 million, according to property records.

Clearly, the owners are looking for a hefty return on the investment property, with Garcia telling Mansion Global that he believes the rare nature of such an enormous contiguous waterfront estate makes it more than worthy of its hefty price tag.

“At the moment, there is nothing available on the market that can compare or that even will come close to this listing,” he said.

Indeed, the combined addresses of 190, 198, and 210 Palm Ave. encompass a massive 92,000 square feet of land, along with 300 linear feet of water frontage. A sale for the full list price would set a record for Palm Island.

Palm Island is one of several islands in Miami, along with Star Island, Indian Creek, and Hibiscus Island, where celebrities have been known to reside, including Nick Nolte, Gloria Estefan, and Enrique Iglesias.

The three homes were built between 2008 and 2016 as a family compound. They total 35,385 square feet of living space, including 21 bedrooms, 25 bathrooms, and six half-baths.

The 2-acre grounds include three swimming pools, lush gardens, and docks for multiple megayachts. There’s parking for close to 20 cars, the listing notes. 

Eklund notes that the property is ideal for “yacht owners and water sport enthusiasts,” while the privacy afforded to residents of Palm Island mean the compound can serve as a “sanctuary” for residents.

“This property offers exclusivity and security while being close to Miami’s cultural, dining, and nightlife attractions,” he adds.

“The combination of size, design, privacy, and prime location sets the Palm Island compound apart as a truly iconic property.”