You Can Own Palm Beach's Only Private Island for $210 Million

South Florida's real estate market is growing at exponential rates. Properties in the Sunshine State have been flying off the market at the speed of light, setting record after record (just check out Miami Beach's most expensive penthouse). And the latest listing to make the news is truly a special one. We're talking about the only private island in Palm Beach that just hit the market for an eye-watering $210 million.

The 2.27-acre Tarpon Island is located west of Palm Beach and has 1,300 feet of water frontage on all four sides. The only way to access the gated lake property is via boat — the island has a dock on the east side or a narrow bridge. Another unique feature of this man-made island built 80 years ago is its lighted tennis court. Palm Beach has very strict rules that prohibit nighttime illumination, so Tarpon Island is one of the very few properties in the area where you could play a game of tennis after sunset.

The island comes with a 1930s estate that the current owner plans to expand and renovate. The 12,321-foot British Colonial-style mansion was designed by renowned Palm Beach architect Howard Major. The new house would bring 18,000 additional square feet to the property and include two swimming pools and a six-car garage on top of the six spacious bedrooms.

Buyers who want to put their own design spin on the property, and wouldn't mind taking on this enormous project, could save $85 million. The seller is willing to part ways with the island for $125 million, but that doesn't include any renovation work on the mansion.

And if you feel like you're having a déjà-vu, you're not wrong. Tarpon Island was actually sold in July for a record-breaking $85 million, only to be re-listed again last week for $125 as is or for $210 including the renovation, making it the most expensive listing in Palm Beach ever.

We told you Florida real estate is sizzling hot, didn't we?!