24 S Hibiscus Dr Miami Beach: $59.9 Million Luxurious Iconic Villa With Breathtaking Rooftop Views

Date of Publishing: April 7, 2025

In the heart of Miami Beach, where exclusivity meets tropical elegance, 24 S Hibiscus Dr rises as a Mediterranean icon – an opulent retreat with a Mykonos soul. This remarkable waterfront property, currently listed for $59.9 million, offers more than just a prestigious address. It offers an experience – one that is irreplaceable, emotionally resonant, and architecturally bold.

Luxury waterfront villa at 24 S Hibiscus Dr in Miami Beach with rooftop terraces, over-water dock, and two-level pool

Formerly owned by Ferrari F1 driver Eddie Irvine, this one-of-a-kind estate on guard-gated Hibiscus Island is a celebration of coastal luxury, and arguably, one of the most unique homes in Florida for sale .

An Architectural Statement on the Bay

Constructed in 2003 and inspired by the Greek Isles, the residence encompasses 8,110 square feet of living space with seven bedrooms, eight bathrooms, and a collection of detached guest quarters. The estate spans 0.45 acres with 150 feet of pristine bay frontage, where shimmering southeast views meet the horizon.

The architectural layout flows effortlessly, connecting indoor grandeur with outdoor drama. Rooftop terraces, a watchtower, and three staircases descending into the ocean – now outlawed by local zoning – cement the home’s legendary status.

“This is not just a home. It’s a landmark,” shared listing agent Kristi Bachan of LoKation in an interview with Luxury Houses Magazine. “The over-water dock house alone makes this property historically significant. You simply can’t recreate this in Miami anymore.”

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Exceptional Features That Defy Convention

One of the most striking details is Miami’s only over-water dock house, an ultra-rare structure that hovers above the bay like a floating pavilion. Steps away, a two-level infinity-edge pool offers panoramic views, surrounded by built-in daybeds, tropical palms, and a stone footbridge leading across the water feature.

Inside, the home reveals handcrafted finishes and luxurious materials – tile flooring, polished concrete, custom ironwork. A media room serves as the home’s entertainment hub, while a chef’s kitchen comes equipped with a gas range, built-in refrigerator, and adjacent maid’s quarters for seamless service.

“Every room has a soul,” added Bachan. “Even the guest suites have been designed as miniature sanctuaries, allowing visitors to experience island-style privacy.”

SEE MORE: Stunning $14.8 Million Waterfront Mansion Sets New Benchmark for Fort Lauderdale Luxury Living

A Coveted Location Within Miami Beach Real Estate

Set within the gated confines of Hibiscus Island, 24 S Hibiscus Dr offers not just a home but a lifestyle – complete with tennis courts, basketball courts, and a tight-knit community of ultra-high-net-worth individuals. The island is centrally located between Downtown Miami and South Beach, offering residents convenient access to fine dining, marinas, and world-class boutiques.

From this vantage point, owners can cruise across Biscayne Bay within minutes or enjoy dinner at nearby hot spots like Carbone, Joe’s Stone Crab, or Mandolin Aegean Bistro. Whether you’re seeking privacy or connection, the home adapts to every social tempo.

“It’s rare to find this level of tranquility and exclusivity while still being just minutes away from Miami’s cultural heartbeat,” Bachan explained to Luxury Houses. “For anyone exploring Miami Beach home for sale, Hibiscus Island is in a league of its own.”

SEE MORE: A $31.5 Million Architectural Marvel Redefines Waterfront Luxury in Sarasota

A Legacy of Value and Vision

The sales history of this estate tells a remarkable story of growth and vision. In April 2021, the property was acquired for $10.5 million. Just four years later, it reemerges on the market with a nearly sixfold increase in valuation. Much of this appreciation is attributed to its unique features – specifically the over-water dock house and grand rooftop terraces – which cannot legally be constructed today.

There are luxury homes, and then there are unicorn estates – homes so rare in design and zoning that they cannot be duplicated. 24 S Hibiscus Dr sits firmly in the latter category. It is not only a work of art but also a protected piece of Miami Beach Real Estate history, offering one lucky owner the chance to secure an enduring legacy.

“This home in Miami Beach for sale is a statement – not just of wealth, but of vision,” Kristi Bachan concluded. “It speaks to those who want something extraordinary and lasting.”

With an asking price of $59.9 million, it’s certainly not for the faint of heart – but for those seeking the ultimate home in Miami Beach for sale, few properties can match the fusion of history, architecture, and lifestyle on offer here.

For more details, view full on Zillow listing.

For inquiries or to schedule a private showing, please contact:

Kristi Bachan
954-980-4527
LoKation

* This property might not for sale at the moment you read this post; please check property status at the above Zillow or Agent website links*