A waterfront home on Miami Beach’s exclusive Di Lido Island has changed hands for $22.8 million, producing an estimated $4.3 million gain for its seller after roughly six months of ownership. The transaction ranked as South Florida’s most expensive residential sale recorded for August 13, according to The Real Deal.
Key takeaways
The sale highlights continued demand for large, recently built waterfront homes in Miami Beach, particularly on coveted bayfront islands.
- The property at 508 West Dilido Drive sold for $22.8 million.
- The 5,500-square-foot home was built in 2018.
- The seller acquired it for $18.5 million in February 2026.
- The transaction generated an approximately $4.3 million increase in value.
A rapid turnaround
The property’s ownership changed in a short period. The 508 W Dilido Drive Land Trust purchased the home for $18.5 million in February before selling it to 508 Di Lido Land Trust for $22.8 million several months later. The difference represents a gross gain of about $4.3 million, before transaction costs, taxes and other expenses.
The timing reflects the potential appeal of turnkey luxury properties, where buyers may be willing to pay a premium for a recently constructed residence in a sought-after waterfront setting.
Details of the Miami Beach property
The 5,500-square-foot home was completed in 2018 and is located at 508 West Dilido Drive on Miami Beach’s Di Lido Island. Its waterfront setting places it among the type of limited-supply residential assets that attract high-net-worth buyers seeking privacy, views and direct access to the water.
Because the home was relatively recently built, the sale appears to have involved a property that did not require a long redevelopment or construction process between purchases. Instead, the gain came during a brief holding period in a luxury market where location can have an outsized effect on pricing.
Brokers involved in the deal
Reid Heidenry and Marko Gojanovic of One Sotheby’s International Realty represented the seller. Hayley Dodge of Compass represented the buyer.
The transaction was part of a broader group of major South Florida deals recorded for August 13. While the Miami Beach sale led the residential category, the day’s largest reported commercial transaction was an $86 million Palm Beach office-building sale.
What the sale signals
The transaction underscores the resilience of demand for prime Miami Beach waterfront real estate, even as buyers and sellers continue to evaluate pricing carefully. A multimillion-dollar gain over approximately six months suggests that well-positioned luxury homes can command strong interest when they combine modern construction with a rare waterfront location.
Still, the reported gain is a gross difference between the purchase and sale prices. It does not account for brokerage commissions, closing costs, carrying expenses or taxes, all of which would reduce the seller’s net return.
Sources
- South Florida Top Real Estate Deals: August 13, 2026, The Real Deal.