The Real Deal Miami

Reggaeton artist Nicky Jam buys Miami Beach home

He sold his Kendall home in July for $2M
By Katherine Kallergis | August 21, 2018 09:15AM

240 Palm Island Drive and Nicky Jam (Credit: Daniel Petroni Photography)

Reggaeton singer and songwriter Nicky Jam just upgraded to a newly built home in Miami Beach.

Nick Rivera Caminero paid $3.4 million for the five-bedroom, 3,617-square-foot home at 240 Palm Island Drive. The deal closed on Monday, according to Realtor.com.

The Boston-born singer of Puerto Rican and Dominican ancestry, known best for hits like “Travesuras” and “Te Busco,” sold his Kendall-area home at 9500 Southwest 94th Court in July for about $2 million, property records show. He paid about $1.8 million for that property in May 2017.

The Miami Beach home, a non-waterfront on Palm Island, features an infinity pool, two-car garage, a chef’s kitchen with Miele appliances, hardwood floors, a master suite with its own terrace and walk-in closets. The seller is 1135 Bay Harbor LLC, controlled by Sabal Development’s Pascal Nicolai. The company paid $950,000 for the 7,200-square-foot lot in 2013.

The home, completed in 2016, was last on the market for $3.65 million with Mathieu Rochette of Compass. Chad Carroll of Douglas Elliman represented the buyer. Elliman declined to comment, and Rochette could not immediately be reached for comment.

Last year, rapper and music producer Bryan “Birdman” Williams listed his waterfront Palm Island home at 70 Palm Avenue for $20 million. The former home of the late Al Capone down the road at 93 Palm Avenue is also on the market, asking $14.9 million.