Sabal Development, an award-winning Miami-based builder and developer who specializes in luxury custom homes, has sold a newly constructed 5,243-square-foot waterfront spec home on a 0.24-acre lot located at 79 N Hibiscus Drive, Miami Beach, FL 33139 for $16 million. Located within the exclusive Hibiscus Island, this stunning waterfront home was built in 2022 and overlooks the pristine Biscayne Bay.