Home » Properties » 49 Palm Ave, Miami Beach FL 33139

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Elegant Mediterranean Estate on Palm Island, Miami Beach

Sprawling 8-bedroom Mediterranean estate on Palm Island with 11,307 sqft, modern amenities, waterfront views, and guest villa.

$35,900,000

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MLS #A11702121

Listing Updated: 2026-07-17 00:41:41

Listed By: One Sotheby's International Realty

Overview

Located on the prestigious Palm Island in Miami Beach, this Mediterranean-style estate offers over 11,300 sqft of refined living space. Built in 1926 and meticulously restored, the residence blends original architectural charm with modern technology and luxury amenities. The home features 8 bedrooms, 7 bathrooms, and multiple living areas including a media room, office, and formal dining. The chef’s kitchen is equipped with high-end appliances and an expansive island. Outdoors, the property boasts over 30,000 sqft of lush grounds with exotic landscaping, fountains, and 100 feet of unobstructed waterfront. Multiple outdoor entertaining spaces include a rooftop deck and private waterfront deck. The guest villa offers additional living quarters with a Turkish hammam, sauna, jacuzzi, and gym, making this estate ideal for privacy and entertaining.

Property Highlights

8 bedrooms, 7 bathrooms, 11,307 sqft living area, Mediterranean architecture, restored 1926 estate, chef’s kitchen with Wolf and Subzero appliances, media room, office, guest villa with Turkish hammam and gym, 100’ waterfront, rooftop and private decks, 8-car garage, elevator, lush 30,000+ sqft grounds.

Property Details

City: Miami Beach

State: FL

Zip Code: 33139

Address: 49 Palm Ave, Miami Beach FL 33139

Year Built: 1926

Property Type: Residential

Property Sub Type: Single Family Residence

Listing Office Name: One Sotheby's International Realty

County: Miami-Dade County

Garage Spaces: 8

Parking Features: Circular Driveway, Covered, Guest

Interior Features: Closet Cabinetry, Elevator, Entrance Foyer, French Doors, Pantry, Split Bedroom, Volume Ceilings, Walk-In Closet(s), Den/Library/Office, Florida Room, Separate Guest/In-Law Quarters, Maid/In-Law Quarters, Media Room, Sauna, Utility Room/Laundry

Exterior Features: Lighting, Open Balcony

Waterfront: Yes

Pool: No

HOA Fee: $0

Annual Tax: $215,744

Days On Market: 581 Days

Original Listing Description

Perfectly nestled in the estates of Palm Island, a Mediterranean marvel with over 15K total SF of living space has been masterfully restored. Maintaining original architectural features, the estate boasts modern, state-of-the-art amenities + technology. Sprawling over 30K SF of lush grounds with exotic trees, fountains and 100’ unobstructed waterfront, multiple scenic outdoor lounging+entertaining areas abound,including a rooftop and private deck over the water. The mansion offers 6beds 7/2bths, office, insolated movie theater, grand saloon, formal dining, cognac rm & art gallery. Chef's kitchen features 3 Wolf gas ranges+Subzero appl, enormous island, family room and 2nd dining. The guest villa has a Turkish hammam/sauna, jacuzzi,massage+gym. 2nd fl 3/2.5 living/dining/kitchen 2 elevators

Property Location

Explore the surrounding area, nearby amenities, and neighborhood access for this property.

49 Palm Ave, Miami Beach FL 33139

About This Neighborhood

Palm Island is one of Miami Beach’s most exclusive residential enclaves, known for its privacy, waterfront views, and proximity to the vibrant Miami Beach lifestyle. Residents enjoy easy access to South Beach’s dining, shopping, and cultural attractions while residing in a serene, gated environment. The neighborhood features luxury estates with lush landscaping and private docks, appealing to buyers seeking a prestigious and tranquil setting.

Walkability & Lifestyle

While Palm Island itself is a private, residential enclave, it is just minutes from Miami Beach’s vibrant walkable areas. Residents can easily access fine dining, boutique shopping, and waterfront parks nearby. The proximity to South Beach allows for a lifestyle that balances serene island living with urban convenience and entertainment options.

Things To Do Nearby

Residents of Palm Island enjoy close proximity to Miami Beach’s renowned beaches, marinas, and cultural venues. Outdoor activities such as boating, golfing, and waterfront dining are readily available. The neighborhood’s location offers a blend of relaxation and vibrant nightlife, with easy access to art galleries, theaters, and festivals.

Nearby Schools

Miami Beach offers access to a variety of public and private schools within reasonable commuting distance. Families residing on Palm Island benefit from convenient access to educational institutions that provide diverse academic programs. The area’s schools support a range of student needs, contributing to the neighborhood’s appeal for families.

Why Buyers Like This Area

Buyers are drawn to Palm Island for its combination of privacy, luxury, and waterfront access. The neighborhood’s exclusivity and proximity to Miami Beach’s attractions provide an ideal balance of tranquility and convenience. The estate’s blend of historic architecture and modern amenities appeals to those seeking a distinctive and comfortable home environment.

Investment Potential

This Palm Island estate presents a unique opportunity due to its rare location and expansive waterfront property in Miami Beach. The combination of historic architecture and modern upgrades appeals to discerning buyers seeking a prestigious residence. Its size and amenities make it suitable for multi-generational living or hosting guests, enhancing its usability. While the market for such exclusive estates is niche, properties on Palm Island consistently attract interest for their privacy and waterfront access.

Market Trends

Miami Beach’s luxury real estate market continues to maintain steady interest, particularly for waterfront estates on private islands like Palm Island. While inventory remains limited, demand for properties combining historic charm with modern amenities is strong. Buyers are drawn to the exclusivity and lifestyle offered by Palm Island, sustaining long-term interest in this segment of the market.

Rental Income Potential

Properties of this caliber on Palm Island typically attract high-end tenants seeking privacy and luxury in Miami Beach. Seasonal demand for waterfront estates remains consistent, supported by the area’s appeal as a premier destination. While rental opportunities exist, the property’s size and exclusivity may suit owner-occupants or long-term leases more than short-term rentals.