Miami Beach Estate Sells for $35M Record
A waterfront property on Miami Beach's Venetian Islands achieved South Florida's highest residential sale in May, trading for $35 million. The transaction highlights continued luxury market strength across the region's premium locations.
A luxury waterfront estate at 845 East Dilido Drive on Miami Beach's prestigious Venetian Islands has sold for $35 million, marking the region's most expensive residential transaction in recent records. The sale represents a significant gain for the seller, an LLC managed by Michael Parker, who acquired the property just one year earlier for $19.5 million.
The 6,100-square-foot contemporary home commanded more than $5,700 per square foot, reflecting the premium pricing power of Miami Beach's most coveted waterfront locations. Built in 2024, the five-bedroom, eight-bathroom residence features modern amenities including a swimming pool and private dock. The buyer was identified as a trust with a San Francisco address, continuing the trend of out-of-state capital flowing into South Florida's luxury market.
Commercial activity also reached impressive levels with the $23 million sale of the Roadway Inn South Miami at 5959 Southwest 71st Street. The four-story hotel property encompasses approximately 96,000 square feet with 117 rooms, translating to roughly $197,000 per key. Francisco Martinez-Miyashiki of Pegaso served as the seller, while an affiliate of Henry Pino's Alta Development completed the acquisition.
Another notable Miami Beach transaction involved a substantial 26,000-square-foot vacant lot at 6626 Sheffield Lane, which changed hands for $23.5 million in what appears to have been an off-market deal. The sellers were Douglas Elliman broker Oliver Lloyd and his wife Laurie Lloyd, with the buyers being an LLC connected to Nicholas Woodhouse, former president and chief marketing officer of Authentic Brands Group, and his wife Jocelyne Woodhouse.
Further south in Delray Beach, a 4,300-square-foot residence at 1010 Poinsettia Road sold for just under $10 million, equating to approximately $4,300 per square foot. William and Megan Field, who originally purchased the property in 2019 for $2.2 million, realized substantial appreciation on the 2022-built home. The buyer was GLG Poinsettia LP, tied to an address in Quebec, with Pascal Liguori Estate Group handling the listing and Roberta Lucas of Century 21 Luxe Homes representing the purchaser.
These transactions underscore the continued appeal of South Florida's residential and commercial markets, with properties commanding premium valuations across multiple price segments. The combination of waterfront locations, modern construction, and strategic positioning continues to attract both domestic and international investment capital to the region's real estate sector.
