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Palm Island

Introduction

General Overview

Palm Island is an exclusive, secure, and first-class neighborhood within Miami Beach. This man-made island sits on the coast of Biscayne Bay, where beach homes and lavish single-family homes attract not only vacationers but year-round residents. The neighborhood is only accessible by boat or car ferry, adding to the privacy residents have always loved about Palm Island.

Miami Beach, where Palm Island is located, is a coastal resort city where tropical and city living coexist. It features vibrant cityscapes brimming with culture, history, and charm with miles and miles of white sand and blue waters as backdrop. 

Aside from its beach culture, cycling is also common among residents of Miami Beach. There’s also an Art Deco District in the city, featuring hundreds of Art Deco hotels, apartments, and other buildings constructed from 1923 to 1943.

Location

MacArthur Causeway is the only road that connects Palm Island to the rest of Miami Beach. The island has a total land area of 82 acres and a population of only 329. Palm Island sits next  to Hibiscus Island, another prestigious community in Miami Beach.

Miami Beach sits on natural and man-made barrier islands and has a total area of 18.7 square miles, 7 square miles is land and 11.7 square miles is water. It is subdivided into three main neighborhoods: South Beach, Mid Beach, and North Beach.

Real Estate Community in Palm Island

Average Land Area/House Square Feet

Luxury homes in Palm Island feature up to 30,000 square feet of lot area. This is both for waterfront homes and non-waterfront residences.

Average Market Pricing

The price of Palm Island real estate ranges from $3,330,000 to $29,900,000.

Common Design, Construction, or Architectural Types

Residential properties in Palm Island and Miami Beach range in architectural styles. There are Mediterranean Revival, Streamline Moderne, Spanish, and Art Deco constructions, but the most popular for Palm Island are Mediterranean Classic and Miami Modern. 

Notable Homeowners

Five-star residents of the affluent Palm Island include Gabrielle Anwar, Al Capone, Ana Gabriel, Rajat Gupta, Nick Nolte, Scott Storch, Barbara Walters, and Bryan “Birdman” Williams. 

Living in Palm Island

General Cost of Living

The cost of living in Miami Beach is 30% higher than the Florida average and 29% higher than the national average. However, for Palm Island, the score might be higher considering the million-dollar property values in the neighborhood.

Employment/Job Opportunities

High-income families live in the Palm Island enclave. The most profitable jobs are in the following industries: management, business, financial, architecture, engineering, legal, health care, and information technology.

Weather

Miami Beach has a tropical monsoon climate. The tropical rainy season is marked by May and runs through October. Dry season starts in November and lasts through April. Interestingly, Miami Beach is the only mainland US city to never experience freezing temperatures. 

Restaurants

Panther Coffee is a well-known coffee shop not only in Miami Beach but all throughout Miami. For authentic Latin American breakfast or lunch, head to Las Olas Cafe. Another must-try in Miami Beach is La Sandwicherie, serving French sandwiches since 1988.

For huge servings of pizza, Pizza Rustica won’t disappoint. Mediterranean and Greek cuisine is served at Miami Mediterranean. Mexican food lovers will be delighted with the menu options at Taquiza. Those who are looking for acai bowls and other healthy juices, smoothies, and sandwiches, Under The Mango Tree is for you. 

Schools

Palm Island is served by the Miami-Dade County Public Schools. Students in Palm Island attend South Pointe Elementary School, Nautilus Middle School, and Miami Beach High School.

Transportation

Public transportation is a reliable form of transportation in Miami Beach. Many Metrobus lines connect to downtown Miami and the Metrorail. The Metrobus is also popular among commuters.

There’s also the Airport-Beach Express, a direct-service bus line that brings passengers from Miami International Airport to various points in South Beach. 

The pedestrian-friendly Miami Beach has a biking culture. Decobike was launched in 2011 as a public bicycle sharing system that aims to have 1,000 bikes accessible from 100 stations throughout the Miami Beach area.

Parks, Recreational Activities, and Attractions

Palm Island has a large park, tennis and basketball courts, a racquetball court, and a children’s playground.

In Miami Beach, South Beach is nicknamed the American Riviera and an Art Deco hotspot. Ocean Drive is known as the Art Deco District, a collection of buildings featuring art deco architecture. For outdoor dining and shopping, head to Lincoln Road.

Attractions in North Beach include the boardwalk, North beach Oceanside Park, and North Beach Bandshell. Meanwhile, Mid Beach takes pride in the Faena District, colorful nightlife, and well-loved restaurants. 

Own a home in Palm Island, one of the most luxurious enclaves in Miami Beach. Get in touch with The Jills Zeder Group at 305.722.5721 or 305.341.7447 to get started.

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Area:Miami Beach
Re-Sale Price Range:$2,500,000-$29,900,000
Rental Price Range:$14,900-$150,000
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