MIAMI BEACH, Fla. (VINnews) – Rumors are swirling among Miami luxury real estate brokers that Elon Musk toured a $300 million ultra-modern waterfront mansion under construction on one of the city’s most exclusive streets.

The property at 5940 North Bay Road, known as the “Park Avenue of Miami,” sits on 2.3 acres with 290 feet of frontage on Biscayne Bay. Developer Todd Michael Glaser and a group of investors purchased the site last July for $105 million, including a 1936 mansion. They flipped it two months later for $169 million before deciding to raze the existing structure and build anew, according to reports.

The new residence, still under construction and not yet publicly marketed, is expected to command around $300 million upon completion in roughly two years. Features will include expansive glass architecture, a green rooftop, elevation 17 feet above the flood zone using the latest hurricane-resistant technology, and a 31-car garage. Glaser has described it as a next-generation ultra-luxury compound that “will just pop up like it came out of thin air.”

The speculation centers on a dramatic visit by an unnamed billionaire several months ago. Glaser told the New York Post’s Gimme Shelter column that the visitor “flew by helicopter and landed in Biscayne Bay, and came by raft to the land and then back again.” Asked directly whether it was Musk, the world’s richest man, Glaser replied: “He might have. I don’t get involved in who sees it.”

Brokers interviewed for the report were split: some said they had heard the mystery visitor was Musk, while others dismissed the claim as “nonsense.”

Musk, chief executive of Tesla, SpaceX and xAI, has not commented publicly on the rumor. He maintains no confirmed ownership of the property, which remains off-market until construction is complete.

The buzz comes amid broader interest by high-profile billionaires in South Florida real estate. Musk has been linked in past unconfirmed reports to luxury properties in the Palm Beach area, but those deals also remain unverified.

Glaser’s firm has not released renderings or additional details, saying the home will not be shown until finished. “There is no product like it out there,” he said. “It will be the most amazing house.”

Aerial views of the 5940 North Bay Road property on Biscayne Bay in Miami Beach, site of the rumored $300 million development.

Neither Musk nor his representatives responded to requests for comment. The story remains unconfirmed speculation based on anonymous broker chatter.