With Miami’s waterfront land values skyrocketing to $25 million an acre on Star Island and $16 million an acre on Indian Creek Island, where Ivanka and Jared recently paid crooner Julio Iglesias $32 million for an empty two-acre plot, restless UHNW Covid refugees are betting against global warming ruining Miami’s high anytime soon.
So naturally, an enterprising landowner, Joseph Imbesi, is now betting that hot market can spew like molten hot lava, with a $65 million listing for two pristine waterfront acres in Bal Harbour. Did you know there’s a hidden yacht club nestled in a hurricane-resistant basin due east of 102nd & Collins? Neither did we. Imbesi has been sitting on this horseshoe-like gem for over 20 years.
Unlike Star Island, where residents are often trapped by accident-plagued causeway closures, or Indian Creek Island, which has no marina, Imbesi’s $65 million plot actually offers a lot, betting his buyer wants a bespoke hotel-size house with storage for multiple superyachts, a private airport and civilized 30mph speed limits. Bal Harbour cops don’t mess around.
Listed by Douglas Elliman, the land is pre-permitted for a 60,000sf dream manse and has been pre-approved for the only private residential helicopter pad north of Fisher Island. We recommend the Airbus ACH175 for its uncompromised capacity, range and luxury. The plot, sporting over 900′ of seawall, also comes with 7 yacht slips in case the owner has a fleet ranging from 50′ – 160′ like bitcoin bull billionaire Michael Saylor does. Is all this Lifestyle of the Rich & Famous potential worth $32.5 million an acre? Scroll down to the sizzle video and you be the judge.
As seen in the video below, the location is fairly ridiculous, snugged into the intracoastal and Bal Harbour like a diamond-crusted bug in a very plush rug.
Sizzle Video by Lifestyle Production Group