Bayfront Miami Beach properties fetch megamillion prices. Check the listings
Peak homebuying season may have already come and gone, but megamillion waterfront properties are always hot in Miami Beach.
Just this week, a property on North Bay Road once owned by a famous Broadway producer sold for $31.5 million. And a bayfront compound in the Sunset Islands was just listed for $110 million.
The property at 6000 North Bay Rd. was sold by the estate of Harold Prince, who was known for producing and directing hit Broadway shows, including West Side Story, Fiddler on the Roof and Phantom of the Opera. Prince, who died in 2019, won 21 Tony Awards over his decades-long career.
Prince primarily lived in Manhattan, but in 1987 he bought a place in Miami Beach: a 1937 home on a prime bayfront lot. He paid $1.7 million for the property on the northwest side of La Gorce Island, records show.
The home, on a 35,000-square-foot lot with 150 feet of waterfront access, will likely be redeveloped by its new owners, said Sam Kafin, the real estate agent from the luxury brokerage Compass who represented the buyer.
The property was the source of a legal dispute between Prince’s two children after the Broadway legend’s death, The Real Deal reported. When Daisy Chaplin and Charles Prince settled the suit in 2021, The Real Deal reported that the home, a 9,024-square-foot mansion, was worth an estimated $17 million.
The property isn’t far from the home Elon Musk was rumored to be touring on North Bay Road. Earlier this month, the New York Post reported that the world’s richest man had been checking out a home at 5940 North Bay Rd., an 18,000-square-foot mansion that’s still under construction and expected to cost about $300 million.
At that price, the home would shatter Miami-Dade’s current record for most expensive home, which was set by Meta CEO Mark Zuckerberg earlier this year with the purchase of a property in Indian Creek Village for $170 million.
Kafin said he wasn’t surprised by how much Prince’s home sold for. He said prices for waterfront lots have gone up significantly since the pandemic, and they’ve risen more in the last year, too. He’s seen more interest from luxury buyers this year compared to 2025.
But the inventory of desirable homes and lots for those buyers is limited, Kafin added.
“There’s not an infinite supply of these premier waterfront — and even non-waterfront — parcels,” Kafin said.
He said there aren’t many older homes on prime lots ripe for redevelopment, like the one at 6000 North Bay Rd., left.
Sunset Islands compound commands massive asking price
About four miles south of the North Bay Road property, Sunset Estates, a waterfront compound made up of two separate residences, was just listed for $110 million. The 32,000-square-foot property at 1400-1420 W. 23rd St. is in the gated Sunset Islands III community and has 187 feet of waterfront access.
Property records show an LLC connected to private equity executive Jason Wright owns both 1400 W. 23rd St. and 1420 W. 23rd St. The “tropical modern” style compound consists of one six-bedroom residence and one two-bedroom residence.
The property also boasts an “Olympic-length” swimming pool and a 10-car covered motor court.
The original six-bedroom home was designed by architect Kobi Karp and developed by luxury developer Todd Michael Glaser in 2020, and the second home was completed in 2025.
The seller is represented by Ana Teresa Rodriguez, CEO of ATR Luxury Homes Group. She said in a statement about the property that it offers “compound-style living that is becoming extraordinarily difficult to re-create within Miami Beach’s most exclusive waterfront neighborhoods.”
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This story was originally published May 21, 2026 at 5:00 AM.
