The Real Deal Miami

AquaBlue sells Palm Island spec home for $20M

It hit the market in 2015 for $22.5M
By Katherine Kallergis | October 05, 2018 04:00PM

Luxury home developer Philippe Harari sold a waterfront mansion on Miami Beach’s Palm Island for $20.4 million.

According to property records, 15 Palm Aqua LLC sold the seven-bedroom, 10,000-square-foot home at 15 Palm Avenue to Beryla Investments LLC, a company controlled by Alejandro de la Vega.

Harari owns AquaBlue Group, a Miami Beach-based luxury homebuilder. His LLC paid $5.14 million for the 17,700-square-foot lot in 2013. It hit the market in 2015 for $22.5 million and was taken off the market the following year.

Palm Island is home to a handful of celebrities. Last year, rapper and music producer Bryan “Birdman” Williams listed his waterfront Palm Island home at 70 Palm Avenue for $20 million. In August, reggaeton singer and songwriter Nicky Jam paid $3.4 million for a non-waterfront home at 240 Palm Island Drive.

About two years ago, Jose Luiz Depieri, vice chairman of Brasil Pharma SA, paid $13.6 million for the waterfront home at 151 North Hibiscus Drive in Miami Beach, which AquaBlue also developed.