A rendering of a proposed home design for Parasio Estates.

Leonard Albanese & Sons, a Boca Raton-based home builder, has purchased a 1.77-acre waterfront site, once owned by Henry Flagler and George Morikami and most recently used as a banana garden. Five custom homes have been listed for sale on the site, each starting at $3.9 million.

Henry Flagler, known as “the father of Palm Beach and Miami” according to Katherine Kallergis of The Real Deal, had sold the land to George Morikami, founder of the nearby Morikami Museum and Japanese Gardens. The most recent owners, Mildred and Dick Olson, grew bananas on the site, which they sold to Disney World, SeaWorld and Busch Gardens.

The upcoming Parasio Estates development will feature modern-style smart homes, each with a pool, dock, and over 100 feet of waterfront. Pricing starts at $3.9 million.

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