A double lot on Miami Beach’s Allison Island will soon hit the market seeking a record $12.9 million. The assemblage is the second largest on the island, only behind Louis Vuitton CEO Michael Burke. The luxury home development site spans 37,800 square feet and features 175’ of water frontage. The $12.9 million asking price is a record price per square foot for land on the island which has seen consistently rising prices over the years. The most recent sale recorded in the MLS is 6431 Allison Road which closed for $7.25 million in January 2019.

The double lot assemblage opportunity is a combination of 6505 Allison Road, which is listed for $6.7 million, for the 21,600 square foot lot; and 6525 Allison Road, a 16,200 square foot lot listed at $6.2 million. Both properties are listed by Ida Schwartz and Minette Schwartz of The Schwartz Team with Compass.

Allison Island is located in the La Gorce neighborhood in the North Beach section of Miami Beach on the Indian Creek Waterway. The island is divided by 63rd St. into a north section with waterfront homes and estates, as well as the southern section where the luxury condo community Aqua is located. Access to the home community is gated 24 hours a day and connects to North Miami Beach by a bridge. Every single-family home on the Island features direct water access to Biscayne Bay.

Allison Island was built by Carl Fisher in 1912 in honor of his business partner, Jim Allison. Allison began developing the island in 1926 when he opened a state-of-the-art hospital to provide service to residents of Miami Beach. In 2003 developer Craig Robins, who would later go on to develop Miami Design District, completed a major transformation of the island when he delivered the Aqua condo community project.

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