The Most Exclusive Waterfront Communities in MiamiAugust 25, 2016
The most exclusive waterfront communities in Miami and Miami Beach are perched atop the lush, manmade enclaves of Star Island, Palm Island, and the Venetian Islands of Biscayne Bay. The islands provide privacy and exclusivity unlike anything you can purchase in the urban areas of Miami and Miami Beach.
But such perks come with a price: Homes on the bay islands can cost well into the tens of millions of dollars. For that reason, this marquee real estate attracts a certain clientele. Several celebrities once lived or currently reside in these exclusive waterfront communities—including Al Capone and Gloria Estefan, just to name a couple.
Star Island is the southernmost island among the exclusive waterfront communities we’re talking about, east of Palm Island along the MacArthur Causeway and the closest to South Beach. This waterfront community is one of the most exclusive given the island’s small size and extreme privacy. The waters surrounding the island are part of the Biscayne Bay Aquatic Preserve, providing this location with glassy, turquoise water frontage. The neighborhood consists of only 34 homes, protected by one bridge that acts as a gate to their prime location. Celebrities own the majority of the homes, all with price tags in the tens of millions.
The majority of the homes in this waterfront community were once historic, but many new owners are demolishing to build bigger, better, and newer homes. Current owners may also have multiple properties on the island, making the whole island even more exclusive. Celebrities residing on Star Island include Gloria Estefan, and Roy Black and Lea from Real Housewives of Miami. Gloria and her husband Emilio owned two properties on the island and sold one in 2015 for around $40 million. The home was 7,988 square feet on a large 1.3-acre lot. Once this home hit the real estate market others in the direct vicinity raised their prices from $45 million to $75 million.
When it comes to Biscayne Bay’s exclusive waterfront communities, Palm Island ranks among the most prestigious. The whole island is only 82 acres, putting every square inch of available property in high demand.
One of the most well-known celebrities to have lived on Palm Island was Al Capone. His home was originally built in 1922, making it one of the oldest homes in Miami Beach. The property was listed for the first time in 35 years in 2006, with a pending sale in 2008. This home is a unique project as a historic home requiring a total renovation for it’s new owner. Because of its historical significance the home cannot be torn down or demolished to replace it with a new more modern estate. The prime location is on 30,000 square feet with 100 feet of ocean frontage.
The Venetian Islands are a group of six islands located between Miami and Miami Beach. These islands are renowned for their vacation-style vibes and similarity to Italy—thus the name. Connected to the city and the beach via the Venetian Causeway, to walk or jog down these quiet streets is like being transported to another world, far from the bustle of the city. Of course, that’s why this roadway is popular for foot traffic: Cars aren’t choking the lanes and you get an amazing view of the bay. Homes on this island chain can sell from half a million to $6.2 million depending on the property size, the home’s square footage, and amenities offered, making this one of the more reasonably priced waterfront communities of Biscayne Bay.
This is just a quick overview of our exclusive waterfront communities. For personalized information, don’t hesitate to reach out to us at www.ARIALuxeRealty.com. You can also reach us at 305-971-0002 for further inquiries.