Local developer Mosie Miller sells oceanfront Palm Beach estate for $68M

Mosie Miller is having a busy summer.

The local Palm Beach developer closed his third real estate deal in the past month, selling an oceanfront mansion on the island for $68.1 million.

Records show Myron “Mosie” Miller and his wife, Michelle Miller, sold the house at 149 East Inlet Drive to Islands Sands Trust. The true buyer is unknown.

Superbroker Lawrence Moens of Lawrence A. Moens Associates had the listing, and Madison Collum of One Sotheby’s International Realty brought the buyer.

Miller comes from a South Florida real estate family. His father, Robert Miller, owns the Jupiter Pointe Marina and heads MLR Management LLC in Tequesta. Miller and his father have invested in Palm Beach County residential real estate together. In August, they bought a waterfront Palm Beach Gardens home for $11 million and use it as a short-term rental property. 

Records show the Millers bought the 1.4-acre oceanfront Palm Beach estate for $14.6 million in 2017. They tore down the existing home and built a 7,700-square-foot mansion in 2020. The new house includes seven bedrooms, nine bathrooms and two half-bathrooms, records show. According to the listing, the estate has a main house, a guest house and staff quarters. The property sits on the northernmost point of the island, and spans several hundred feet of waterfront along the Palm Beach Inlet, the listing shows.

The Millers first listed the compound for $78.5 million in February 2021, and bumped the asking price to $79 million in May of that year, Realtor.com shows. Price cuts have become more common in South Florida, as the real estate market has cooled from its pandemic frenzy. 

Mosie and Michelle Miller have benefited from such price cuts in their recent deals. The couple bought another Palm Beach home for $21.6 million in June, at a discount from its initial $29.9 million asking price. Also in June, the couple sold a newly renovated mansion in Palm Beach Gardens’ Old Palm Golf Club to BET co-founder Bob Johnson for $20 million.

The couple’s sale of the Inlet Drive estate launches it into the stratosphere of Palm Beach’s trophy real estate — mansions that sell for $50 million or more. Among such pricey sales are car dealer Michael Cantanucci’s $170 million purchase of an oceanfront mansion in April, which set a price record for the island. Cosmetics heir William Lauder bought a trophy of his own in March, dropping $155 million on the late Rush Limbaugh’s oceanfront compound. In May, developer Todd Glaser and his partners sold a waterfront mansion for $63 million.