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The Real Deal Miami

Miami island for sale

February 09, 2011 10:28AM

A nine-acre man-made island between Aventura and Sunny Isles Beach is on the market for $49.5 million, according to a report from Condo Vultures. The island was created in the 1950s as part of a massive dredging effort undertaken by the U.S. Department of Transportation. It has an assessed value of $3 million, or around $7.90 per square foot, according to the Miami-Dade County Property Appraiser’s Office. A neighboring island connected by the same road was developed between 2000 and 2005, with a combined market value of nearly $67.5 million. TRD