Brazilian Entrepreneur Lists Home On Miami Beach’s Hibiscus Island For Record $38M

The Hibiscus Island home is listed at $38 million.

Brazilian businessman Jose Carlos Pontes is putting his five-bedroom home on Miami Beach’s Hibiscus Island on the market this week for $38 million — a record asking price for the tiny isle in Biscayne Bay.

Pontes is co-founder of Marquise Group in Brazil, a holding company that began in construction and expanded to include hospitality, media and financial services. Architect Reinaldo Borges, of Borges + Associates in Miami, designed the contemporary home, completed in 2016. Some of Borges’ other projects include the Royal Palm South Beach in Miami Beach and the American Airlines Arena in Miami.

On the first level of the Pontes home, there’s a living room and dining room with marble floors, a kitchen with black and gray granite walls, and a home theater with sound-proof walls. The upper level holds a family room, a kid’s playroom, and five bedrooms. On the roof, there’s an Ipe wood deck and an outdoor kitchen.

The two terraces have views of the Miami skyline. There’s an infinity edge swimming pool, a smaller kiddie pool, and a dock big enough to fit a yacht, according to listing agent Sonia Gherardi of ONE Sotheby’s International Realty.

Hibiscus is in a grouping of three artificial islands created almost 100 years ago by the Army Corps of Engineers as it dredged the bay between Miami Beach and downtown Miami. All the islands are reached by the Gen. Douglas MacArthur Causeway. In addition to the Pontes home, there currently are 18 properties for sale on Hibiscus, ranging from $1.6 million to $17.8 million.

Hibiscus is the least glamorous of the three sister-islands. Palm Island, the closest to Hibiscus, has had famous residents such as Al Capone and Nick Nolte. Star Island has been home to Gloria Estefan, Don Johnson, and Rosie O’Donnell. Hibiscus hasn’t yet claimed an A-list celebrity.

“It’s an ambitious asking price for Hibiscus Island,” said real estate agent Jeri Jenkins, of Coldwell Banker in South Beach, who used to live on Hibiscus. “We’ve had sales near that level in the other islands, but we haven’t seen it there — yet.”

It’s not the first time a homeowner on Hibiscus Island set a jaw-dropping price. Former Formula 1 driver Eddie Irvine listed a home for $30 million in 2015. It stayed on the market for two years with no takers. Now, it’s available for rent at $180,000 a month, according to Zillow.

Sales of luxury homes in Florida have been boosted by the new federal tax law that went into effect on Jan. 1. During the first three months of 2018, sales of Miami single-family houses priced over $1 million jumped 16 percent compared with the same period a year earlier, according to report from the Miami Association of Realtors.

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