Speculation is heating up along Miami’s North Bay Road, where rumors are swirling around a still-unfinished megamansion, a reported $300 million price tag, and the possibility that Elon Musk may have his eye on it.

According to a report from the New York Post, the under-construction estate—set on a 2.3-acre waterfront parcel facing Biscayne Bay—has quietly drawn interest from ultra-high-net-worth buyers, with several brokers suggesting Musk is among them.

The property’s developer, Todd Michael Glaser, isn’t naming names but isn’t exactly shutting down the speculation either. One particularly cinematic visit described to Gimme Shelter involved a billionaire arriving via helicopter, landing in Biscayne Bay, and reaching the property by raft before departing the same way. Whether that visitor was the Tesla and SpaceX founder remains unverified, though Glaser offered a coy “he might have.”

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The intrigue only adds to the mystique surrounding what is shaping up to be one of Miami’s most ambitious residential builds. Glaser and his partners acquired the property—then home to a 1936 mansion—for $105 million before flipping it just months later and listing it last year for a whopping $169 million. Now, rather than bringing it back to market with plans attached, the team is going all in—constructing a fully realized, ultra-modern compound expected to ask around $300 million upon completion.

Details remain tightly under wraps, but a few key elements have surfaced. The home will feature a glass-heavy contemporary design, expansive green rooftop spaces, and cutting-edge structural engineering, including elevation roughly 17 feet above the flood zone and advanced hurricane-resistant technology. There’s also a headline-grabbing 31-car garage.

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In keeping with the ultra-luxury playbook, the property is now being held off the market deliberately. “We’re not showing it anymore. We’re not marketing it. It will just pop up like it came out of thin air,” Glaser told the outlet. “It drives the really rich guys crazy. We won’t close until it’s finished. There is no product like it out there. It will be the most amazing house.” He added that completion is expected in roughly two years.

The timing is notable. Mark Zuckerberg recently made waves with a record-setting $170 million purchase of a not-yet-finished estate on Indian Creek Island—a sign of just how competitive Miami’s top tier has become. Still, few buyers loom larger than Musk himself. The xAI founder has amassed an $839 billion fortune as of March 2026, cementing his status as one of the richest individuals in the world.

Click here to see more photos of the home Musk allegedly toured.