$26,400,000
- 7
- beds
- 6 full · 4 half
- baths
- 8,988
- sqft
- 2008
- year built
- 7
- beds
- 6 full · 4 half
- baths
- 8,988
- sqft
- 2008
- year built
- Status:
- Active
- MLS #:
- 620022
- Neighborhood:
- Trop Coral Reef (89.0)
- County:
- Monroe
- Listed By:
- Leslie Leopold - Ocean Sotheby's International Realty
- Agent Phone:
- (305) 942-0215
- Agent Email:
- LLeopold@Oceansir.com
Sponsoring Broker: Derek Eisenberg, Continental Real Estate Group, Inc
Escape to Palm Paradise, a breathtaking oceanfront estate on 7.64 private acres in Islamorada, offering 369 feet of shoreline and sweeping Atlantic views. Tucked behind gates on Plantation Key, this secluded retreat combines lush tropical landscaping with unmatched privacy for the ultimate island escape. The 8,988-square-foot main residence showcases exceptional craftsmanship and thoughtful design. One wing features a dramatic two-story primary suite with a private office, while the opposite wing includes four additional bedrooms and four bathrooms across two levels. A separate two-bedroom guest house provides extra space for visitors, and a whole-house generator adds convenience and peace of mind. Inside, custom woodwork, coffered ceilings, built-ins, and high-end finishes create a warm yet refined atmosphere. Amenities include a chef's kitchen, wine cellar, private gym, elevator, and seamless indoor-outdoor living spaces ideal for entertaining or relaxing by the water. Resort-style outdoor features include a custom pool, tiki bar, outdoor kitchen, beachside fire pit, putting green, observation pier, and a lighted tennis court with cabana. Convenient access by seaplane, helicopter, or a 90-minute drive from Miami makes travel effortless. Perfect for boating enthusiasts, the estate is near dockage and concierge dry storage options. Located in the heart of Islamorada, Palm Paradise offers easy access to world-class fishing, boating, dining, and the laid-back luxury of the Florida Keys. Offered at $26.4M, Palm Paradise is a rare opportunity to own a private waterfront compound ideal for luxury living, family retreats, or executive escapes.
Highlights
- Residential
- Single Family Residence
- Built in 2008
- 7.64 Acre Lot
- Waterfront
- 172 days on Market
-
- Bedrooms
- 7
-
- Bathrooms
- 6 full · 4 half
-
- Year Built
- 2008
-
- Construction Materials
- Concrete
-
- Parking Features
- Attached, Garage Door Opener, Garage, Covered
-
- Interior Features
- Cathedral Ceiling(s), Walk-In Closet(s), Bar, Wet Bar, Storage, Elevator, Granite Counters, Entrance Foyer, Built-in Features, Sauna
-
- Appliances
- Dryer, Dishwasher, Microwave, Refrigerator, Washer, Range, Disposal, Oven, Wine Cooler, Stainless Steel Appliance(s), Ice Maker
-
- Flooring
- Tile, Wood, Marble
-
- Furnished
- Unfurnished
-
- Exterior Features
- Storage, Lighting, Tennis Court(s), Outdoor Shower, Outdoor Kitchen, Built-in Barbecue
-
- Patio And Porch
- Patio, Deck, Porch, Screened
-
- Pool Features
- In Ground, Salt Water
-
- Security Features
- Smoke Detector(s), Security System, Security Gate
-
- Cooling
- Ductless, Ceiling Fan(s), Central Air
-
- Heating
- Central
-
- Acres
- 7.64
-
- Water Front Features
- Ocean Front
-
- Water Front
- Yes
-
- View
- Ocean
-
- Utilities
- Cable Available, Propane
-
- Area
- 25 - Plantation Key
-
- County
- Monroe
-
- City
- Tavernier
-
- Neighborhood
- Trop Coral Reef (89.0)
-
- Zip Code
- 33070
-
Nearby Schools
-
51out of 100
-
100out of 100
-
51out of 100
-
54out of 100
-
77out of 100
-
53out of 100
Disclaimer: ez Home Search School Ratings are on a scale of 1-100 and represent our evaluation of school quality based on academic performance, school resources, community feedback, and demographic factors. School attendance boundaries are for reference only. Contact the school directly to verify enrollment eligibility.
-
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Estimated Value
$9,608,936
$7,206,702 - $12,011,170
Source: Constellation Data Labs
Price History
| 05/24/2026 | Listed | $26,400,000 |
| Source: Florida Keys Board of REALTORS #620022 | ||
| 05/24/2026 | Off Market | — |
| Source: Florida Keys Board of REALTORS #620022 | ||
| 08/05/2025 | Off Market | — |
| Source: Florida Keys Board of REALTORS #616051 | ||
Source: MLS Data
Deed History
| 05/15/2003 | Intrafamily Transfer - Transaction is between related parties for any reason & no consideration. | $0 |
| 05/15/2003 | Warranty Deed | $2,300,000 |
Source: Public records via Constellation Data Labs
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Frequently Asked Questions
How do I schedule a tour of 89505 Old Hwy?
We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 89505 Old Hwy.
They know residentials in the area well and can give you the guidance you need to buy with confidence.
How do I get more information about 89505 Old Hwy?
Click Ask a Question to talk with our team. You already know it is a 7 bed, 6 bath, listed for $26,400,000. We can talk through recent upgrades, potential seller motivation, how this single family residence compares to others in Tavernier, and can even get you in to see the property quickly.
How do I get a virtual tour of 89505 Old Hwy?
Yes! A virtual tour is available for 89505 Old Hwy. Click here to view the full walkthrough and explore every room at your own pace. If you would like a guided virtual showing or have questions along the way, we can connect you with our local expert to walk you through it live.
How much is the monthly mortgage payment for 89505 Old Hwy?
With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 89505 Old Hwy at around $155,097. This includes estimated property taxes and insurance.
Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.
How do I get pre-approved to buy 89505 Old Hwy?
Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.
Or, let us connect you with our preferred local lender in Monroe County. They will give you all of your available financing options, based on your specific situation and what is available to you.
Can I negotiate the asking price for 89505 Old Hwy?
In most cases, yes. Whether 89505 Old Hwy is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Tavernier's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.
How do I make an offer on 89505 Old Hwy?
We can handle that for you. Our preferred local agent specializes in residentials in Tavernier and can guide you through every step of the offer process.
You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.
What is the price per square foot for this home?
This home is listed at $26,400,000 with 8,988 sqft of space—that comes out to approximately $2,937 per square foot.
How long has this property been on the market?
89505 Old Hwy was listed on May 24, 2026, which means it's been on the market for 172 days.
Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.
When was this house built?
This home was built in 2008, making it approximately 18 years old.
What is the lot size of this property?
89505 Old Hwy sits on a 7.64-acre lot, which is 332,798 square feet.
What are the property taxes for 89505 Old Hwy?
The most recent public record shows annual property taxes for 89505 Old Hwy were approximately $58,331. This may change with reassessment or exemptions. Our local partner can verify current tax amounts and help you estimate future costs based on your situation.
Is 89505 Old Hwy still available for sale?
Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.
Source: ez Home Search, MLS Data
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IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Copyright 2026 Florida Keys Board of REALTORS®, Inc.