A
trio of luxurious waterfront estates on Miami Beach's exclusive Palm Island has been re-listed for a staggering $150 million, maintaining its record-breaking price tag. The combined properties, spanning over two acres with 300 feet of waterfront, offer an unparalleled level of exclusivity and size.

    The properties are being sold as a package by Jorge Luis Garcia and the Adria, Maria, Adrian Almeida Trust, represented by Fredrik Eklund of Douglas Elliman. The trio of homes boasts 35,385 square feet of living space, with 21 bedrooms and 25 full bathrooms across three separate residences.

    Garcia cited the scarcity of prime waterfront land as the key motivator for merging the parcels into a single deal. "At the moment, there is nothing available on the market that can compare or come close to this listing," he said.

    The Mediterranean-style estates were developed between 2008 and 2016 by the late Pedro Adrian, who purchased the first parcel in 2004 for $3.45 million. Garcia later acquired two of the properties, purchasing one in 2019 for $13.9 million and another in 2021 for $17 million.

    Data from Miller Samuel shows that luxury waterfront properties on Palm Island have seen a significant surge in value, with average prices rising 52.5% year-over-year in the fourth quarter of 2024. The top-tier listings climbed an astonishing 117.2%.

    The compound offers an extraordinary level of amenities, including three pools, private docks capable of accommodating yachts, and six half baths. Each property also boasts a four-car garage.

    Garcia noted that the alignment of the homes with a growing trend in Miami Beach – larger estates designed to maximize square footage – makes them highly desirable. Eklund agreed, citing market conditions that favor the sale, including the rise of Florida as an attractive option for billionaires and the elite.