Venture capital investor Ben Ling and his husband, Hedge Labs co‑founder Chris Coudron, have snapped up the waterfront teardown next door to their Palm Island mansion for $40 million, widening their personal slice of the gated island. The buy effectively stitches the neighboring double‑lot parcel onto the couple’s existing estate and gives them nearly two acres of Biscayne Bay frontage between Palm and Hibiscus islands.
Deal details and the buyers
As reported by The Real Deal, Ling and Coudron purchased 145 and 149 Palm Avenue from builder Pedro Adrian and his wife, Adria Adrian, for $40 million. The move follows their 2021 purchase of 135 Palm Avenue, an eight‑bedroom, roughly 11,058‑square‑foot waterfront house they paid about $29.5 million for, putting the couple’s combined spend on the adjacent parcels at about $69.5 million. In a statement to The Real Deal, Compass agent Liz Hogan said, "What they have is so special, it's worth more than they paid."
What’s on the lot
The double lot totals about 1.38 acres and provides roughly 200 feet of water frontage, and the main home currently on the site spans roughly 11,600 square feet, according to listing material. That account of the property’s size and amenities, including a pool, cabana, tennis court and two docks, is detailed by Mansion Global.
Listing history and representation
The assemblage hit the market last fall with an initial asking price near $59 million and was trimmed to about $47 million before it went under contract, per the Realtor listing for the property. Chad Carroll and Jesus Adrian of the Chad Carroll Group at Compass listed the estate for the sellers, while Compass agent Liz Hogan represented the buyers in the transaction.
What this means for Palm Island
The purchase continues a recent run of high‑end activity on Palm and Hibiscus islands, where buyers have been consolidating adjacent lots to create private compounds for privacy and maximum dockage. Hoodline covered a similar nearby flip earlier this spring, noting the same appetite for trophy waterfront assemblages on Palm Island. As The Real Deal notes, the sale so far this year ranks among the priciest on the islands and signals continued demand for estate‑scale sites in Miami Beach.
