Miami’s luxury real estate market remains upbeat and has witnessed the second $30 million transaction in less than a month. A waterfront estate on La Gorce Island called the Castello del Sol was purchased for $30 million on Monday. The property is a fine example of classic Miami opulence. It has been developed like a resort and boasts of all luxury amenities including a lagoon style pool overlooking the bay. It is a gated Mediterranean style compound that is now the third most expensive single family home in the Miami Dade County. The two properties that were priced higher were sold last year and are located on the nearby Indian Creek Island.
The Estate Boasts of 349 Feet of Biscayne Bay Frontage
The other real estate deal in the region that crossed the $30 million mark was the sale of two side by side penthouse condos in the up-and-coming Residences at Miami Beach Edition. The prestigious deal worth $34 million was concluded earlier this year. Castello del Sol is spread over two acres of the La Gorce Island and the gate compound juts out from Miami Beach. The estate has 349 feet of Biscayne Bay frontage and boasts of three teak docks that can even accommodate a large yacht. Apart from the lagoon style pool the compound has a waterfall and a swim-up bar. The estate also has a lighted tennis court, a gym, a one-bedroom guest house, a two-bedroom staff apartment and on-property guard house.
Furniture Designed by Versace Adds to the Luxury of the House
The main house on the estate has 17,000 square feet of living space with eight bedrooms and nine and one half bathrooms. The home with gold leaf accents also boasts of a double kitchen, a library, a theater, a safe room, and a rooftop lounge overlooking the bay and downtown Miami. Furniture designed by Versace add to the luxurious look and feel of the home. Trophy homes like Castello del Sol have a very limited supply and they attract the attention of both domestic and international buyers. The estate located at 42, La Gorce Circle was first listed in October with an asking price of $37 million. The Jills represented the seller and EWM Realty International represented the anonymous buyer.