16 Palm Ave. on Palm Island in Miami Beach Sold for $11,500,000 in March 2008
A beautiful Palm Island estate was sold this month for $11,500,000. The mediterranean walled in 7 bedrooms, 6+2 bathrooms home, boasts 6,345 square feet of living space, a 35,348 square feet lot, and 215 linear feet of bay front. The home was previously purchased in 1992 for $1,700,000; it was listed on the market for sale for almost a full year before closing on March 3.
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