Miami Beach Real Estate Market Report for 2008 – Palm Island, Hibiscus Island and Star Island Luxury Homes
Miami Beach Luxury Real Estate is known for its islands – I already did a market report for Venetian Islands, now I’m combining Palm Island, Hibiscus Island and Star Island just because they are adjacent to each other. There were a total of 8 sales in the 3 islands combined in 2008. The highest sale at $10,600,000 at Hibiscus and the lowest also at Hibiscus for $1,180,900 on a dry lot.
The price disparity has to do with location and view as well as condition of the home. The pristine and totally updated homes will obviously sell for more than the gutted ones, near a bridge or causeway that are mainly sold for land value.
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| Address | Bds | Bths | HBth | sqft | YrBlt | Lot Size | List Price | Sale Price | Closing Date |
| 24 S Hibiscu Dr | 5 | 5 | 2 | 13,000 | 2003 | 19,687 | $14,900,000 | $10,600,000 | 5/1/2008 |
| 130 Palm Ave | 6 | 8 | 1 | 7,940 | 1998 | 30,000 | $10,900,000 | $9,750,000 | 9/11/2008 |
| 16 Palm Ave | 7 | 6 | 2 | 6,345 | 1930 | 35,348 | $9,995,000 | $11,500,000 | 3/3/2008 |
| 44 Star Island | 6 | 5 | 1 | 4,720 | 1935 | 48,266 | $9,750,000 | $8,100,000 | 8/28/2008 |
| 4 Palm Ave | 7 | 8 | 0 | 8,169 | 1995 | 17,603 | $8,750,000 | $6,900,000 | 5/15/2008 |
| 150 S Hibiscus Dr | 5 | 4 | 1 | 5,453 | 1940 | 10,500 | $3,795,000 | $3,500,000 | 5/22/2008 |
| 275 N Coconut Ln | 5 | 4 | 0 | 3,007 | 1952 | 8,414 | $2,800,000 | $2,700,000 | 6/27/2008 |
| 320 N Hibiscus Dr | 4 | 3 | 0 | 3,026 | 1953 | 9,500 | $1,350,000 | $1,800,900 | 7/28/2008 |
Miami Beach Luxury Real Estate
Search Hibiscus Island Homes, Palm Island Homes and Star Island Homes currently listed for sale above $1,000,000