Florida’s ritzy Venetian Islands — a chain of 6 man-made islands located between Miami Beach and the Miami mainland — are known for their luxury waterfront mansions and gated estates.
Among them is a 2018-built contemporary home with downtown views and over 90 feet of water frontage that’s made headlines quite a few times over the years.
Built by former Formula One driver-turned-developer Eddie Irvine, the waterfront mansion is owned by real estate mogul Alex Sapir (who heads up the Sapir Organization and Sapir Corp.) and has recently been relisted for a whopping $39 million.
And if you think that’s a hefty price, know that it had an even more ambitious asking price during its previous stint on the market; in 2023, the Miami Beach property was listed for as much as $54 million (a neighboring lot with a teardown was also baked into the price).
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San Marino Island real estate is notoriously expensive
The house is ideally located on San Marino Island, one of the most coveted addresses in South Florida’s prestigious Venetian Islands, where homes typically trade for $10 million or more.
Currently, there are just a handful of homes publicly listed for sale on the man-made island, and pricing reflects the exclusivity of the location: the most affordable one is priced at $7.5 million, with the rest of them sporting price tags over $14 million.
The Island’s most exclusive offering
Freshly relisted with a $39,000,000 asking price is an ultra-luxurious, five-bedroom waterfront mansion that’s currently the most expensive home for sale on San Marino Island.
The property — now listed with Douglas Elliman top producer Miltiadis Kastanis — spans a lot and a half with 90 feet of water frontage, and is anchored by a five-bedroom, seven-bath mansion that’s the pinnacle of luxury living.
A real estate mogul’s home
Built in 2018 by Formula One driver-turned-developer Eddie Irvine (who lives nearby, on Miami Beach’s Sunset Islands), the Venetian Islands house is owned by well-known real estate developer Alex Sapir, son of late billionaire Tamir Sapir. His company was behind the luxury oceanfront condo building Arte by Antonio Citterio in Surfside, Miami Beach.
Not its first stint on the market
Sapir first listed the home in May 2023 for $41,100,888 according to public records — or $54 million with the inclusion of a neighboring lot with a teardown property, the New York Post reported at the time.
Offering great water and skyline views
Now boasting a revamped price of $39,000,000 and fresh representation, the San Marco Island house is looking to attract deep-pocketed buyers who can appreciate its fine construction, stellar location, and extra-generous views — that overlook Biscayne Bay and downtown Miami’s skyline.
Living areas with views of downtown Miami
Inside the 7,890-square-foot residence, we find three separate social areas that benefit from skyline exposure, with 10’ telescopic windows enhancing the views.
A chef’s kitchen with an oversized pantry
An elegant, wood-paneled kitchen expertly conceals appliances so as not to obstruct the clean design, and comes with an oversized pantry.
The primary bedroom has views for days
Boasting floor-to-ceiling windows on two sides, the primary bedroom comes with two closets and a perfectly appointed bathroom.
See also: 26 Jaw-dropping Miami-area mansions
Book-matched marble in the bathroom
The spa-quality primary bathroom features a drench shower, deep soaking tub, expensive book-matched marble, and the same awe-inspiring views as the rest of the house.
It also has a Junior primary with an equally luxurious en-suite
Why settle for just one primary? The luxury Miami Beach home also comes with a junior primary bedroom outfitted with an equally elegant en-suite bathroom.
Other standout amenities
The trophy home comes with a series of indoor amenities including a home theater, media room, a wine cellar, and a bar, but it’s the outdoor areas that caught our eye.
Outdoor areas make the most out of the location
Outside, we find a whole range of amenities that make the most of the home’s stellar waterfront location. These include a pool, spa and pool cabana, a summer kitchen, and dockage for several boats and jet skis.
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