See Home Value
$4,196,383*
House - Off Market

240 Palm Ave

Miami Beach, FL 33139
bedrooms
5 Beds
bathrooms
5 Baths
square feet
4673 Sqft
$2,970,000 - $3,630,000
Reference Base Price*
27.16%
Since Nov 1, 2021
FL-Miami
Primary Model
Sold Feb 09, 2021
$3,100,000
$1,500,000 by Morgan Stanley Private Bank Na
Mortgage Due Mar 01, 2051
Sold Aug 28, 2018
$3,400,000
$1,700,000 by City National Bank
Mortgage Due Sep 01, 2048

About This Property

The best value for a new home on the ultra exclusive Palm Island! This stunning modern designed house is the work of Sabal Development and 3,617 SF interior with 5 bedrooms, 5 full baths, a large infinity pool and two car garage. Designed with indoor/outdoor living in mind, the house features a full wall of impact resistant glass doors. Other features include a fully appointed chefs kitchen with Miele appliances, hardwood floors and high ceilings. Each of the three upstairs bedrooms comes with a walk in closet and the master suite features it's own large outdoor terrace. Included with the home is private access for residents to Palm Island Park with both tennis and basketball courts, community police 24 hours a day and a gated security coming on to the island.

The manager has listed the unit size as 4673 square feet.
Unit Size
4,673Ft²
Days on Market
-
Land Size
0.17 acres
Price per sqft
$706
Property Type
House
Property Taxes
$4,192
HOA Dues
-
Year Built
2016

Price History

Date / Event Date Event Price
Oct 6, 2021 No longer available -
No longer available
Feb 9, 2021 Sold to Christian Marco Iacovelli $3,100,000
Sold to Christian Marco Iacovelli
Dec 13, 2020 In contract -
In contract
Dec 5, 2020 No longer available -
No longer available
Dec 4, 2020 Listed $3,300,000
Listed
Show More

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 2016
  • Effective Year Built: 2016
  • Building Count: 1
  • Bedroom Count: 4
  • Bathroom Count: 5
  • Full Bathrooms: 5
  • Partial Bathrooms: 5
  • Building Quality: D
  • Construction Type: Concrete block
  • Exterior Walls Type: Concrete block
  • Roof Shape Type: Rigid frame bar
  • Floor Count: 2
  • Living Units: 1
  • Basement Area: 0
  • Garage Type: Garage
  • Garage Square Area: 211
  • Parking Space Count: 0
  • Pool Type: Pool

    Dimensions

  • Lot Size Square Feet: 7,200
  • Lot Size Depth Feet: 1,200
  • Lot Size Frontage Feet: 600
  • Total Building Area: 4,673
  • Gross Building Area: 4,673
  • Building Area: 3,617
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: unknown
  • Heating: unknown
  • Heated Square Feet: 3,617
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: RIVIERA 1ST & 2ND ADDN AMD
  • Land Acres: 0.165
  • Standard Land Use Code: Single family residential
  • Legal Description 1: RIVIERA 1ST & 2ND ADDN AMD PB 32-37 LOT 5 & NWLY10FT LOT 6 BLK E 2 LOT SIZE 60.000 X 120 OR 21859-1574 112003 1

Ownership

  • Current Owner : IACOVELLI CHRISTIAN MARCO
  • Previous Owner : CAMINERO NICK RIVERA
  • Owner Before Previous Owner: 1135 BAY HARBOR LLC
  • Is Owner Occupied: Owner-occupied property

Neighborhood

  • School District Name: Dade County School District
  • School Tax School District: MIAMI BEACH
  • Census Tract: 004102

Zoning

  • Zoning: 0100

Geography

  • Assessors Map Reference: 267
  • District: 02
  • Parcel: 02-4205-002-0790
  • Block: E 2
  • Lot: 5,6
  • Meridian: SEC 05 TWN 54S RNG 42E
  • Municipality: MIAMI BEACH
  • Latitude: 25.7809
  • Longitude: -80.1654

    Address

  • Full Address: 240 Palm Ave
  • Address - House Number: 240
  • Address - Street Name: Palm
  • Address - Suffix Type: Ave
  • State: FL
  • City Name: Miami Beach
  • Carrier Code: C005
  • 4-Digit Zip Code: 5185
  • Zip Code: 33139

Valuation

    Tax

  • Total Area: 3,882
  • Tax Year: 2023
  • Tax Amount: $52,476
  • Tax Rate Code Area: 200

    Appraisal Valuation

  • Standard Deviation: 0.1819
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 76
  • Final Value: 4,511,047
  • High Value: 5,331,895
  • Low Value: 3,690,200

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $1,500,000
  • First Open Lien Mortgage Lender: MORGAN STANLEY PRIVATE BANK NA
  • First Open Lien Mortgage Recording Date: Feb 09, 2021
  • First Open Lien Mortgage Financing Type: Adjustable Rate
  • First Open Lien Mortgage Loan Amount: $1,500,000
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: Mar 01, 2051

    Market Valuation

  • Market Total Value: $3,069,554
  • Market Land Value: $1,835,914
  • Market Improvement Value: $1,233,640

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $2,663,364

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Feb 03, 2021
  • Current Sale Recording Date: Feb 09, 2021
  • Current Sale Transaction ID: 11821642607
  • Current Sale Price: $3,100,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 2021R0103940
  • Previous Sale Recording Date: Aug 28, 2018
  • Previous Sale Contract Date: Aug 02, 2018
  • Previous Sale Amount: $3,400,000
  • Previous Sale Document Type: Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: MORGAN STANLEY PRIVATE BANK NA
  • First Mortgage Transaction Date: Feb 09, 2021
  • First Mortgage Loan Amount: $1,500,000
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: Mar 01, 2051

    Financing

  • First Mortgage Financing Type: Adjustable Rate

    Previous Mortgages

  • Previous Mortgage Lender: CITY NATIONAL BANK
  • Previous Mortgage Transaction Date: Aug 28, 2018
  • Previous Mortgage Loan Amount: $1,700,000
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: New Conventional
  • Previous Mortgage Loan Due Date: Sep 01, 2048



Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
4 Beds
3 Baths
4,746 ft²
$752/ft²
$3,570,000 Mar 22, 2022
-
$1,265/mo
Townhouse
4 Beds
4 Baths
4,039 ft²
$891/ft²
$3,600,000 Oct 19, 2022
-
$7,134/mo

About Star, Palm and Hibiscus Islands


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Frequently Asked Questions

When was property at 240 Palm Avenue built and last sold?
The property at 240 Palm Avenue was built in 2016 and last sold on Feb 3, 2021 for $3,100,000.
How much is this home worth?
The estimated value of the home located at 240 Palm Avenue is $3,318,094.
What are some comparable homes to 240 Palm Avenue?
There are currently no comparable homes to 240 Palm Avenue.

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