A waterfront single-family home at 508 West Dilido Drive in Miami Beach changed hands for $22.8 million during the week of August 13, 2026, making it the most expensive residential sale recorded across South Florida for that period.
What sold, and for how much?
The property at 508 West Dilido Drive — a 5,500-square-foot home built in 2018 on Miami Beach's Di Lido Island — sold for $22.8 million, topping every other residential transaction logged in South Florida during the week ending August 13, 2026. The sale was recorded as a trust-to-trust transaction, with the seller listed as 508 W Dilido Drive Land Trust and the buyer as 508 Di Lido Land Trust.
- Address: 508 West Dilido Drive, Miami Beach, Florida
- Sale price: $22.8 million
- Home size: 5,500 square feet
- Year built: 2018
- Seller: 508 W Dilido Drive Land Trust
- Buyer: 508 Di Lido Land Trust
Where is Di Lido Island, and why does its location matter?
Di Lido Island sits within the Venetian Islands chain, a series of man-made barrier islands connected by the Venetian Causeway that links Miami Beach to mainland Miami. Properties on Di Lido combine direct Biscayne Bay water access with proximity to South Beach and Miami Beach's commercial corridors, attributes that consistently push prices into the eight-figure range for newer construction.
- Di Lido Island is one of six Venetian Islands strung between Miami and Miami Beach.
- Waterfront lots on the island offer direct bay exposure and private dock potential.
- The 2018 construction date places the home among the island's newest and most code-compliant stock.
What does this sale signal about Miami Beach's luxury market?
The $22.8 million closing on August 13, 2026 reflects sustained buyer appetite for turnkey, post-2015 waterfront construction in Miami Beach's single-family sector, where inventory at that price tier remains limited. The trust-to-trust structure of the deal is common in high-end South Florida transactions, often used to preserve buyer privacy, and does not diminish the market signal the price sends.
- High-end demand in Miami Beach's waterfront segment has shown resilience through mid-2026.
- Trust-to-trust sales obscure individual buyer and seller identities but are fully recorded public transactions.
- New construction commands a premium in a market where flood-code compliance and modern finishes reduce carrying costs for buyers.
How does this compare to other South Florida luxury deals?
The Di Lido Drive closing stood above all other residential sales in South Florida for the week of August 13, 2026, according to deal tracking published by The Real Deal. While no comparative weekly figure was released for the same period in prior years, a single-family sale clearing $22 million on a mid-island lot — rather than a peninsula tip or ocean-facing address — underscores how broadly elevated pricing has become across Miami Beach's waterfront geography.
Original reporting on this transaction was published by The Real Deal on August 14, 2026.
