Building facts
- Address
- 7211-7292 Fisher Island Drive
- Neighborhood
- Fisher Island
- Year built
- 1992
- Floors
- 11
- Residences
- 37
- Status
- Completed
- Pricing
- Starting at $10.5 Million
Verified 17 August 2026Miami-Dade County Property Appraiser1 source
Palazzo Del Mare — photography to follow
Key Takeaways
- 28 residences on the county record, including combined units — the smallest of the three Palazzo buildings.
- Its median assessed value is $6,568,559 — roughly 37% below Palazzo Del Sol and 43% below Della Luna.
- It is a four-bedroom building: 22 of the 28 homes, plus two three-bedrooms, two five-bedrooms and two six-bedrooms.
- Median home size is 3,690 square feet, with the largest at 7,025.
- The highest recorded sale is $21,000,000 (January 2022).
- The 2026 sale recorded $2,053 per square foot — the lowest per-foot figure of the three Palazzos, on a single transaction.
Palazzo Del Mare, by the numbers
Starting at $15 Million. Source: the building record on this site.
Fisher Island Drive, Miami, Florida | Neighborhood: Fisher Island
The valuation gap worth understanding
Fisher Island sits across Government Cut from South Beach and has no road connection to the mainland — access is by ferry, private boat or helicopter. It is consistently reported among the most expensive ZIP codes in the United States, and the ferry is the reason: it keeps the island genuinely private in a way no gated mainland community can match.
Counted against the Miami-Dade County Property Appraiser record on 17 August 2026, Palazzo Del Mare returns 28 residential homes, including combined units. Heated area runs 3,500 to 7,025 square feet with a median of 3,690, and the mix is 22 four-bedrooms, two three-bedrooms, two five-bedrooms and two six-bedrooms.
The 2026 assessed values run $3,436,845 to $13,848,508, with a median of $6,568,559. Set against Palazzo Del Sol’s $10,390,565 and Palazzo Della Luna’s $11,607,978, Del Mare is valued roughly 37% below Del Sol and 43% below Della Luna.
The public record shows the gap but does not explain it. Building age, position on the island, finish level, views and association differences would all contribute, and the smaller median floorplate accounts for part of it — 3,690 square feet against 4,102 and 4,738. But size alone does not cover a 43% difference, so there is more to it. It is the first thing I would investigate when choosing between these buildings.
A short but real transaction record
Qualified sales from the county record — arm’s-length only.
| Year | Qualified sales | Median price | Median $/sq ft |
|---|---|---|---|
| 2023 | 1 | $11,000,000 | $2,981 |
| 2024 | 2 | $13,775,000 | $2,717 |
| 2026 to date | 1 | $14,425,000 | $2,053 |
Four qualified sales across four years, with none recorded in 2025. In a 28-home building that is normal rather than notable.
The pattern is worth reading carefully, because the two columns disagree. Median sale price has risen — $11,000,000, then $13,775,000, then $14,425,000. Per-foot pricing has fallen — $2,981, $2,717, $2,053. The reconciliation is that the homes trading have been progressively larger, and the 2026 transaction in particular was a big one.
The building’s highest recorded sale is $21,000,000 in January 2022, with $15,900,000 the month before.
The three Palazzo buildings, compared
All three were counted against the same county record on the same day, so these figures are directly comparable. Combined residences — two units merged into one home, which are common at the top of these buildings — are included.
| Building | Homes | Median sq ft | 2026 median assessed | Highest assessed home | Highest recorded sale |
|---|---|---|---|---|---|
| Palazzo Della Luna | 42 | 4,738 | $11,607,978 | $32,274,342 | $37,000,000 (Jun 2024) |
| Palazzo Del Sol | 49 | 4,102 | $10,390,565 | $37,709,321 | $40,000,000 (Dec 2021) |
| Palazzo Del Mare | 28 | 3,690 | $6,568,559 | $13,848,508 | $21,000,000 (Jan 2022) |
Della Luna carries the highest median assessed value; Del Sol holds both the single highest assessed home and the largest recorded sale on the island. Del Mare sits roughly 37% below Del Sol on median assessed value.
Who this building suits
This remains the most interesting of the three for a value-minded buyer. You get a Palazzo address on the same private island at a materially lower assessment than either neighbour, and the four-bedroom-dominant mix is genuinely usable family space.
The work is on you to find out why the gap exists. Walk it against Del Sol and Della Luna, compare finishes and views, and read the association’s financials and reserve study. Part of the difference is floorplate; the rest is worth understanding before you commit.
Liquidity is the standing caution — four sales in four years means an exit is measured in years, not months.
Palazzo Del Mare — Frequently Asked Questions
How many units are in Palazzo Del Mare?
The Miami-Dade County Property Appraiser records 28 residential homes, including combined units — 22 four-bedrooms, two three-bedrooms, two five-bedrooms and two six-bedrooms.
Why is Palazzo Del Mare cheaper than the other Palazzos?
Its median assessed value is $6,568,559 against $10,390,565 at Del Sol and $11,607,978 at Della Luna — roughly 37% and 43% below. A smaller median floorplate (3,690 square feet against 4,102 and 4,738) explains part of it, but not all, and the public record does not give the rest. It is worth investigating directly.
What do homes at Palazzo Del Mare sell for?
One qualified sale so far in 2026, at $14,425,000. Two in 2024 at a $13,775,000 median, and one in 2023 at $11,000,000. The building’s highest recorded sale is $21,000,000 in January 2022.
Why has price per square foot fallen while prices rose?
Because the homes trading have been getting larger. Median sale price rose from $11,000,000 to $14,425,000 while per-foot pricing fell from $2,981 to $2,053 — in a building with floorplates from 3,500 to 7,025 square feet, the mix of what sells moves the median more than values do.
How big are the residences?
Heated area runs from 3,500 to 7,025 square feet with a median of 3,690. Assessed values run from $3,436,845 to $13,848,508.
How do you get to Fisher Island?
By ferry, private boat or helicopter. There is no road connection to the mainland.
Sources and further reading
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Josh Stein · Florida real estate sales associate, license SL3057661 · (305) 695-8257 · hello@joshsteinrealtor.comRelated coverage
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