The largest housing transaction in the history of Palm Island recently closed at $45 million. The home at 40 Palm Ave., was listed by Matthew Dugow at the Carroll Group/Compass. The buyer’s agent was Oliver Lloyd at Douglas Elliman.

The island is known for its prime waterfront real estate and famous residents, which have included Al Capone, Nick Nolte, Gloria Estefan, Enrique Iglesias, Barbara Walters and more.