Sunset Island 2: 1727 W 27 Street Miami Beach, Florida

The sun is shining on Miami Beach this week, as yet another luxury waterfront home matches seller to buyer. Listed for $8.25M, 1727 W 27 Street just closed for $6M/$960SF. Listed just shy of one year in a down market (310 days to be exact), this sleek turnkey property located in Miami Beach’s exclusive neighborhood, Sunset Island 2, traded $200k less than it did in 2005. Currently there are 18 waterfront homes for sale on Sunset Islands 1, 2, 3, and 4.

To date, only one other waterfront property closed this year on the Sunset Islands. On and off the market since 2005, this Sunset Island 4 home, located at 1401 W 22 Street, closed for  $2.7M/$597SF. The deals, or should I say STEALS, are ripe for the picking!

VITALS ON 1727 W 27 STREET:

• Lot Size: 20,000 SF
• On the H2O: 100′
• Living Area: 6,244SF
• Built in 1984

MIAMI BEACH'S VENETIAN ISLANDS: 122 W DILIDO DRIVE SELLS FOR $2.8M THIS WEEK

Just SIXTY days on the market, and this Venetian Islands property located at 122 W Dilido Drive fetched $2.8M. That’s $780SF,  which during the long hot days of summer, I’d say is pretty cool! This calendar year, there have been FOUR closed sales of waterfront homes on the Venetian Islands, averaging $767SF.

VITALS ON 122 W DILIDO DRIVE:

• Lot Size: 10,500 SF
• On the H2O: 60′
• Living Area: 3,586SF
• Built in 1937

MIAMI BEACH ROD AND REEL CLUB

The Miami Beach Rod and Reel Club, founded in 1929, is one of South Florida’s oldest angling organizations. In 1934, its membership purchased property on Hibiscus Island and established its meeting place, a former late night hotspot, Club Lido.  For more than 70 years, sportsman, fishing enthusiasts and the like have gathered to celebrate the catch.

Like many property owners today, the principals of the Miami Beach Rod and Reel Club are cutting back. Almost one year ago, they determined that it was decadent to maintain a clubhouse that happens to be one of Miami Beach’s prime, waterfront properties. Two properties comprise the Club, both adjacent to the bridge connecting Palm and Hibiscus Islands:

• 208 S Hibiscus Drive is located on the east side of the bridge. The 11,000SF clubhouse is found on this plot which measures 31,500SF with 180′ of water frontage and is technically 3 lots combined. Originally listed for $10M, currently this is offered for $4.9M.

• 218 S Hibiscus Drive is located on the west side of the bridge. This piece is a vacant lot which measures $18,814SF offering 105′ of water frontage. Listed for $5M one month ago, today it is on the market for $2.95M.

MORE MIAMI BEACH ROD AND REEL CLUB:

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ALSO FOR SALE ON HIBISCUS ISLAND (waterfront):

1. 40 S Hibiscus Drive: $8.9M
2. 265 N Hibiscus Drive: $8.5M
3. 269 N Hibiscus Drive: $5.9M
4. 56 S Hibiscus Drive: $5.1M
5. 429 N Hibiscus Drive: $5M
6. 102 S Hibiscus Drive: $4.9M
7. 184 S Hibiscus Drive: $3.9M
8. 441 N Hibiscus Drive: $3.5M
9. 270 S Hibiscus Drive: $3.4M
10. 240 S Hibiscus Drive: $3M
11. 306 S Hibiscus Drive: $2.9M
12. 81 N Hibiscus Drive: $2.7M
13. 250 S Hibiscus Drive: $2.5M