The most costly personal island within the Florida Keys is promoting for $ 11 million
Another day, another record sales in Florida.
A nearly five-acre private island in the Florida Keys sold for an unprecedented $ 11 million on Friday. This made it the most expensive sale in Marathon, Florida, and the most expensive private island sold in the Keys.
The island, which offers a deep-water jetty and a bridge exclusively for residents and guests, was sold for 40% more than the next largest sale in Marathon, according to local sales history on Zillow. It was also the highest private island sale ever sold in the Florida Keys, said listing agent Pierre Marc Bellion of Ocean Sotheby’s International Realty.
“Here in the Keys, $ 11 million is a record sale,” he said. But to the potential buyers interested in the island who were from California, Texas, and Connecticut, “they think it was an amazing deal.”
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The island has a main house with views of the water through French doors on the first and second floors, as well as porches on each level. There is also a four bedroom, four bath guest house and a one bedroom guest house that overlooks the water and a sandy beach.
There is also a sun terrace and swimming pool on the premises. According to Bellion, there is a marina for up to 15 boats.
“We have pretty shallow water everywhere in the Florida Keys,” he noted. “Finding a property to have a 100-foot boat in is not easy, but this buyer has a 118-foot boat that they will keep and that is absolutely unique.”
Mr Bellion declined to identify the buyer.
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The island was first listed for $ 15.5 million in March 2019. It could not be determined how much the property was last traded for and the seller was not immediately available for comment.
Mr Bellion stated that keys are relatively undiscovered by out of town buyers, although this is gradually changing.
“Miami has people from all over the world … but these people don’t know about the keys,” he said. “It takes 10 years to realize that you are literally on Caribbean islands if you drive for an hour. The keys are still completely unnoticed, and that’s why I think the years to come will be amazing. “
The ongoing migration from high-tax areas to low-cost states like Florida and the Covid-19 pandemic, which has seen shoppers looking for more space and warmer weather while working from home, has been a boon for vacation markets like the Keys, added Mr Bellion added.
This has also resulted in a frenzy of home buying in Florida and has resulted in several record sales in the past few months.
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On the state’s west coast, along the Gulf of Mexico, another $ 11 million property broke a record for highest-priced home sales on Sanibel Island, according to Zillow’s sales history for the area. The deal closed in late January and appeared in public records last week.
The five-bedroom, six-bathroom home was on the market in 2020 and was last listed for $ 11.5 million by Phaidra McDermott, owner of Kingfisher Real Estate Inc. It was last sold in 1998 for just under $ 2 million.
Ms. McDermott did not immediately respond to requests for comment.