Two side-by-side waterfront homes on Miami Beach's Venetian Islands changed hands for a combined $33 million on or before July 15, 2026, making the transaction the week's largest residential sale in South Florida.

What exactly sold and who bought it?

A trust sold the adjacent properties at 617 and 625 East Dilido Drive to a buyer identified as Leet House 4 LLC, transferring roughly 0.7 acres of Biscayne Bay-front land in a single deal. The two homes together total approximately 9,400 square feet of living space and were originally constructed in the 1940s.

  • 617 East Dilido Drive spans approximately 5,000 square feet
  • 625 East Dilido Drive spans approximately 4,400 square feet
  • Combined lot size: 0.7 acres of Venetian Islands waterfront
  • Seller: a trust; Buyer: Leet House 4 LLC

Why did this sale stand out among South Florida deals?

The $33 million combined price tag placed the East Dilido Drive transaction at the top of all South Florida residential sales recorded during the week ending July 15, 2026, signaling that buyer appetite for ultra-high-end waterfront real estate on Miami Beach remains exceptionally strong. The Venetian Islands, a chain of man-made islands connected to the Miami mainland by the Venetian Causeway, consistently ranks among Miami-Dade County's most coveted addresses, where direct bay exposure and limited inventory drive prices well above the Miami Beach median.

What does this mean for the Venetian Islands real estate market?

The sale reinforces a sustained pattern of eight-figure transactions on the Venetian Islands, where assembled waterfront parcels — particularly those dating to mid-century construction — have attracted buyers willing to pay a premium for the land itself and its redevelopment or renovation potential. Purchasing two adjoining lots at once allows Leet House 4 LLC to control a contiguous 0.7-acre bayfront footprint, a rarity on islands where individual lots are narrow and neighboring owners seldom sell simultaneously.

  • Combined assemblage offers development flexibility uncommon on the islands
  • Mid-century construction dates (1940s) suggest potential for full redevelopment
  • No publicly stated plans for the properties have been disclosed

Original reporting on the transaction was published by The Real Deal Miami on July 16, 2026.