The address 270 S Hibiscus Dr sold for $51.5 million in August 2026 — a record in total price and price per square foot for both Hibiscus Island and neighboring Palm Island. Redfin ranked the transaction the second-priciest US residential sale that month.
This is the sixth stop in the series on the 10 micro-markets that concentrate sales above $30 million in Miami-Dade — the ultra-luxury map, address by address.
What Hibiscus Island is
Hibiscus Island is a roughly 70-acre artificial island on Biscayne Bay, in Miami Beach — guard-gated 24 hours, north of Palm Island, accessed via the MacArthur Causeway. Created in 1922, in the same dredging project that produced Star Island and Palm Island, the island pairs gated-village discretion with direct access to Miami and Miami Beach.
The anchor sale
The August 2026 sale involved a new construction of about 9,100 to 10,500 square feet (sources differ), on two lots with 120 feet of bay frontage and two private docks. The seller was a joint venture led by Luis Bosch, who rebuilt the property with the SAOTA studio; the buyer was not disclosed. Sources differ on the deal's format: the Wall Street Journal described it as off-market, while other outlets cited a $55 million listing sold in 11 days — and Homes.com/CoStar recorded it as Miami-Dade's priciest MLS sale of August 2026.
The island's ultra-luxury track record
The record includes the following sales of $30 million or more on the island:
- 270 S Hibiscus Dr — $51.5 million (2026, two-island record)
- 101 N Hibiscus Dr — $40.25 million (2024, previous record)
- 320 S Hibiscus Dr — $31.9 million (2025)
- 370 S Hibiscus Dr — $31.75 million (2025)
Four sales above $30 million — and a record that counts for two islands at once.
Why it matters for buyers
Hibiscus Island shows that a record, in ultra-luxury, is not just an absolute number: it is price per square foot, speed, the full package. For buyers at this level, the island offers the rare balance between guard-gated discretion and immediate access to Miami and Miami Beach.