TOP 10 Most Expensive Neighborhoods in Miami Beach & the Highest Home Sales in Each Neighborhood

October 24, 2023

Welcome to paradise Miami Beach! Whether you’re a seller, a home buyer, or just intrigued by the beauty of Miami Beach’s ultra-luxury real estate, this blog post is a must-read. Join us on an exclusive tour of the Top 10 luxury neighborhoods in Miami Beach, ranked by their highest sale. From the neighborhoods’ unique features to their record-breaking prices, we’ll reveal it all. Stay tuned until the end to find out which neighborhood claims the #1 spot with the astonishing sale that set a new record in Miami Beach!

10. Normandy Island is situated on the northern part of Miami Beach. It is a unique and guard-gated island with an 18-hole golf course, making it ideal for those who love golf! Here, a modern waterfront home at 2608 Biarritz Drive sold in 2022 for $15.5 million, the highest sale up to date! We sold this stunner and set the record for this neighborhood.

9. Allison Island is a small, guard-gated community with exclusively waterfront homes! Here, 6480 Allison Road, a stunning modern waterfront home, sold in 2023 at $22.5 million! Click here to see all waterfront homes for sale in this luxury neighborhood.

8. Flamingo Drive is a hidden gem in Miami Beach, favored by locals and those who want quiet serenity! Here, 3541 Flamingo Drive – a magnificent contemporary waterfront home sold in 2023 for $27.5M! Click here to see the beautiful houses for sale on this exclusive street.

7. Pinetree Drive is a unique street in Miami Beach on the Indian Creek Waterway, overlooking old Millionaire’s row, Collins Avenue! Here, you find some of the largest estates in Miami Beach! And the highest sale for this area is 6385 Pinetree Drive Circle – a Mediterranean mansion that sold in 2019 for $28 million! Click here to see the waterfront estates and dry luxury villas for sale on Pinetree Drive.

6. Venetian Islands are a neighborhood of 6 man-made islands interconnected with the Venetian Causeway, which is one of the most scenic drives in the country, connecting Miami Beach with Miami! Here, 25 E Rivo Alto sold in 2022 for $31.5M – the highest recorded sale for this luxury community. Explore all waterfront properties and dry luxury homes in this prestigious neighborhood by clicking here.

5. Palm and Hibiscus Island are loved for their ideal South Beach location and proximity to the best of both worlds – Miami Beach and Miami. The highest home sale here is 158 Palm Avenue which sold in 2023 for $32 million! Click here to see all real estate for sale on Palm and Hibiscus Island.

4. North Bay Road – while we can argue that this address is the most sought-after and expensive of all, as of now it takes the #4 spot on our list! Here, 6360 North Bay Road – a new construction modern mansion, sold in 2020 for $44 million.  North Bay Road is a bayfront enclave offering unparallel, westerly views of Biscayne Bay and Miami’s dazzling skyline. Want to see the spectacular mega-mansions on the bayfront enclave? Click here and discover.

3. Sunset Islands are a luxury community comprising of 4 lush islands located near the trendy Sunset Harbour neighborhood. Secured with a guard-gate, these islands offer some truly spectacular luxury homes! Here, the highest sale is 1753 View Drive, which sold in 2020 for $44.5 million! Click here to discover mansions for sale in this exclusive, guard-gated islands.

2. La Gorce Island takes the #2 spot with the highest home sale in Miami Beach where a mega-mansion with nearly 30,000-SF at 42 La Gorce Circle sold in 2016 for $45M! This guard-gated island certainly takes the number #1 as the most beautifully manicured island in Miami Beach. Click here to find luxury homes for sale on La Gorce Island of Miami Beach.

1. And at #1 the Miami Beach neighborhood with the highest home sale, is in fact, the smallest residential island in Miami Beach! The star on our list is none other than Star Island, where 8 Star Island Drive sold in 2021 for a staggering $75 million for land! If you are reaching for the stars, then explore Star Island real estate here.

And there you have it! The top 10 most expensive neighborhoods in Miami Beach!

Miami Beach has been making headlines in the real estate world for the past few years, and now we see why! With all Miami has to offer, it’s my opinion that Miami Beach and South Florida real estate is still undervalued, and we will continue to see increase in real estate values in the near future! 

Which neighborhood is your favorite and where would you like to live? Let us know in the comments and be sure to follow us and share this video with your friends!

And make sure to follow us on Instagram for the next video where we will dive deep into each neighborhood and learn more.

Nelson Gonzalez, Sr. Vice President of Berkshire Hathaway HomeServices EWM Realty in Miami Beach.

Edit Search

  • Email Updates
  • Only Update me On
Email Sent! Your email was sent successfully
  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    When are you looking to purchase?
  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    Need assistance with financing?
  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    Need to also sell your property?
Moving to Miami?

Subscribe to our newsletter and be the first to receive the newest luxury listings