Palm Island
Palm Island
Pros & Cons
Top 3 Things To Do
Median Price
The Location
Day & Nightlife
Walk Score
Comparable Neighborhoods
Demographics
Palm Island
Description of the Neighborhood:
Palm Island, an exclusive island community in Miami Beach, offers a blend of tranquility and luxury living with waterfront estates and upscale amenities.
With just a stone throw away from the beach and across from all the beautiful ships, it’s im palm’s reach of all amenities in the area.
Pros & Cons
PROS:
Waterfront Living:
Palm Island residents enjoy stunning waterfront views and direct access to Biscayne Bay, creating a serene and picturesque environment.
Private and Secure:
The island is gated and guarded, providing a high level of security and privacy for its affluent residents.
Proximity to Miami Beach:
While secluded, Palm Island is conveniently located near the vibrant scene of Miami Beach, offering a perfect balance of seclusion and city life.
CONS:
Exclusive Pricing:
The exclusivity of Palm Island comes with a price, as real estate and living costs are higher compared to many other Miami neighborhoods.
Top 3 Things To Do
Top 3 things to do in the area:
Waterfront Recreation:
Enjoy water activities such as boating, paddleboarding, and fishing with easy access to Biscayne Bay.
Palm Island Park:
Relax and unwind at the island’s private park, a lush green space exclusive to residents.
Miami Beach Exploration:
Venture to nearby Miami Beach for world-class dining, shopping, and entertainment.
Best time of the year to visit:
Palm Island is delightful year-round, but the winter months (December to March) offer milder temperatures, making it an ideal time for outdoor activities.
Median Price
Median Residential Rent:
Rental properties on Palm Island typically start at $5,000 per month and can go up to over $100k per month significantly for larger estates and more luxurious accommodations.
Median Residential Sale:
Owning a piece of Palm Island luxury comes with a price, with median residential sale prices ranging from $5 million to well over $20 million.
Median Commercial Rent:
No commercial properties on the Island
Median Commercial Sale:
None
Data as of 12/2023 researched by RealFeed Research Department.
The Location
Day & Nightlife
What’s Happening?..
While Palm Island itself is more residential, residents often explore the nearby Miami Beach for its diverse nightlife, dining, and entertainment options.
So in a nutshell, unless you’re planning on throwing a party at your house, going over the bridge to Miami Beach is your only option.
Walk Score
Very nice Island to walk around or even to South Beach.
Somewhat Walkable
Comparable Neighborhoods
Comparable areas are;
Star Island and Hibiscus Island share similarities with Palm Island, offering luxurious waterfront living in exclusive, gated communitie
Similar Areas
Demographics
Palm Island attracts high-net-worth individuals and celebrities, contributing to a diverse but affluent community.