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    The Best Neighborhood in Miami Part 3: What Are the Best Miami Island Communities in 2019?

    November 6, 2018

    What are the best island communities in Miami for Single-Family-Homes?

    This blog discusses the best island communities in Miami and is specially useful for those buyers who are active boaters and/or those who prefer privacy, exclusivity and safety. We created a quick overview of the best islands which Miami has to offer, including price ranges, amount of homes and links to directly browse homes for sale.

    Call me for more info. We also have off-market product to discuss if you are a buyer!

    In no specific order:

    What Are the Best Island Communities in Miami in 2019?

    La Gorce Island, Miami Beach

    La Gorce Island is a small island community in Miami Beach (North Beach) just north of the famous La Gorce Golf Course. The guard-gated island offers 35 waterfront homes and 58 homes on dry lots. The island sells its exclusive homes between $3M and $30M, with waterfront homes starting in the  $8M – $10M price range.

    La Gorce Island offers both historic mansions as well as brand new luxurious constructions. The homes on the most western point of La Gorce Island have the best water views, overlooking the Biscayne Bay with almost no homes/land in sight, while homes on other locations of the island look into Allison Island, Normandy Island or North Bay Road. These are of course still amazing views, but some buyers prefer unobstructed water views. La Gorce is known to be a very lush island community with a very desired location. It is close to hotspots like South Beach and The Bal Harbour Shops while it provides for a truly residential and peaceful ambiance.

    Indian Creek Island

    Indian Creek is arguably Miami’s most exclusive island. The Miami island, which is home to CEO’s, athletes and entertainers is a man-made barrier island along Biscayne Bay with a total land area of approximately 0.46 square miles (294 acres). Indian Creek offers just 40 lots, which are all waterfront and the majority of the island consists of a private Golf Course, which is part of the Indian Creek Country Club. Unsurprisingly, the club is extremely private. The lots in this community are large 1 acre+ lots, with many homes located on 2 acres or more. Homes on Indian Creek island are being sold from $6M up till $50M.

    The Venetian Islands

    The Venetian Islands offer some of the most desired homes in all of Miami. The islands are not gated, but are ideally located between the mainland and the beach. In total there are 6 islands which offer both condos and single-family homes.  While condos on the Venetian Islands are rather dated, many of the homes are brand new. In the last few years investors snatched empty lots or tear-down properties and constructed multi-million dollar mansions. These days homes trade between $1,5M and $20M, with waterfront homes starting in the $4M range. The most expensive and exclusive homes can be found on San Marino Island, Di Lido Island and Rivo Alto with respectively 88, 170 and 110 homes. Something to consider when purchasing at the Venetian Islands is that the lot sizes are relatively small varying between 5,000 and 20,000 SF.

    Key Biscayne

    Key Biscayne is an island town across the Rickenbacker Causeway from Miami. The island is home to various condos and homes of which many are waterfront. Boaters are very fond of Key Biscayne as the waterfront properties are either directly on the ocean or offer direct ocean access (no bridges or long water ways). Besides boaters, the island is desired with families with kids because of its excellent public school and safety. Homes on the island start selling at $1,2M for dry lot, tear down properties and at approximately $4M for waterfront homes.  Key Biscayne is not known for its large sized lots. Although some lots measure an acre or more, most range between 5,000 and 12,000 SF with many of them in the 7,000 SF range.

    Star Island, Palm Island and Hibiscus Island

    This exclusive island trio is located in the Biscayne Bay between Downtown Miami and Miami Beach along the McArthur Causeway. These islands are gated and very well protected. Homes on the islands are large and located on large lots. The most exclusive island is Star Island, which offers approximately 35 waterfront lots. Homes on Star Island range between 4,700 and 20,000 SF on lots of 1 acre or more. Palm Island and Hibiscus Island offer both approximately 150 lots, which vary in size between 6,500 SF and 60,000 SF (For Palm Island) and 9,000 SF and 38,000 SF (For Hibiscus Island). Hibiscus and Palm Island also offer dry lots, most of which can be found on Hibiscus Island.

    What about prices on these islands? In the last 2 years Palm Island homes sold between $2.7M and $20M, while Hibiscus Island sold homes between $4M and $7.5M. Star Island only sold two homes in the last two years; one for $39M and one for $48M. Click in the below button to see current listings.

    Sunset Islands

    The Sunset Islands are a group of 4 islands located in the Biscayne Bay just north of the Venetian Islands. The island group is one of Miami’s most desired residential areas as the 24/7 guard-gated community offers superb real estate in an excellent location close to South Beach and many Golf Courses. The islands offer both waterfront as well as dry lots and many of the waterfront homes come with a boat dock. Important for boaters is that there are NO fixed bridges, meaning you can sail off to the Biscayne Bay and even the ocean. Each of the islands has between 50 and 80 homes ranging between 2,000 and 12,000 SF on 6,000 to 35,000 SF Lots.  In the last 2 years properties sold between $2M and $16.5M, waterfront homes starting at $4M. Current listings range between $1,75M and $26M with waterfront homes starting at $4.5M

    My WildCard

    Fisher Island, Miami Beach

    This is really my wild card, as Fisher Island predominantly offers condos with just 8 single-family homes. With many extremely spacious condos and the island’s extreme privacy and exclusivity, I decided to include it anyway.

    Fisher Island is a 216 acre private island community just south of South Beach, which is completely self sufficient. Although most Miami island communities are by definition high-end and exclusive, Fisher Island takes this exclusivity to a whole different level. The island, which belongs to the country’s most expensive zip codes can only be reached via ferry, boat or helicopter and follows a strict invitation-only policy. Some residents live here year round while a large amount of owners use their Fisher Island property as a second or third residence. Besides the condo amenities the island offers its own set of services and amenities such as two marinas with over 100 slips, a private club, a private beach, a golf course, 18 lighted tennis courts, dining venues, a spa and fitness center, a hotel, a day-school, a conference center and a US Post Office and Fire Station. Fisher Island offers 8 private homes and 10 condos (39 towers) of which Palazzo della Luna and Palazzo del Sol are the newest and most exclusive towers. Although most are multi-million dollar units, there are some smaller 1 or 2 bedroom condos that sell for $1M or below.

    The More Affordable Miami Beach Island Communities

    Biscayne Point

    Biscayne Point is located in North Beach between Indian Creek and Normandy Shores. Biscayne point is made up of two peninsulas that extend into the Biscayne Bay, called Biscayne Point (Southern peninsula) and Stillwater (Northern peninsula). Most homes are waterfront and enjoy amazing views over the Biscayne Bay and the Miami skyline. Biscayne Point is close to the beaches and all its entertainment while the community gives you a feel of tranquility and privacy. This is one of the most affordable island communities in Miami and the Beaches. In the last two years properties sold between $500K and $3M, while at this moment listings range between $400K and $10.5M. Waterfront listings start at $775,000 for a tear down property.

    Biscayne Point is desired with boaters and golf lovers as the waterfront community is surrounded by two golf courses: Indian Creek Country Club and the Normandy Shores Golf Course.

    Normandy Isles

    One of the more affordable Miami (Beach) island communities is Normandy Isles. Normandy Isles homes trade between $350K and $6M, with waterfront properties starting at $1M.  This gated island community in the Biscayne Bay of Miami Beach is home to Normandy Isle and Normandy Shores. Normandy Isle, which is the southern part, is divided from the northern part – also called Normandy Shores – by water. The islands are connected on two locations; Biarritz Drive and North Shore Drive. The norther part also called Normandy Shores is more exclusive than its southern counterpart and home to a 18 hole golf course called the Normandy Shores Golf Club.

    The islands, especially the southern part, still offer some dated homes, which can be bought for a reasonable price to create large waterfront mansions. Homes on these islands measure between 1,500 SF and 6.000 SF and are located on lots that range between 6,000 and 16,000 SF.  Current homes for sale are listed between $500,000 and $12M.

    Please give us a call for more information about the best island communities in Miami. As market analysts we know all the details of what is going on in the market and we back our opinions up with numbers.

    Contact me today via phone/whatsapp: +1.305.508.0899 or Mail: Siddons.d@ewm.com

     David Siddons
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    THE 2018 MIAMI REAL ESTATE REPORT

    EX-STOCKBROCKER’S ANALYSIS OF THE MIAMI MARKET

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    The 2018 Miami Luxury Report