No price shyness here: Star Island estate lists for $40M
Some sellers are holding back from listing their luxury properties, fearing a soft market during COVID-19. But the owners of a Star Island residence are forging ahead with a bold asking price of $40 million.
The owner of 13 Star Island drive, registered under E&A Estates LLC, is ready to bid farewell to the 15,011-square-foot, two-story waterfront home. It comes with plenty of self-distancing space: 10 bedrooms, 10 bathrooms, 100-foot wood dock and three-car garage on a 40,000-square-foot lot.
Jill Eber and Jill Hertzberg of the The Jills Zeder Group are the listing agents.
“These kind of sales are happening, and there has already been interest in the property,” Eber said.
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After purchasing the home in 2011 for $25.5 million, the owner remodeled and expanded it — adding a gourmet kitchen with stainless steal appliances, an additional bedroom and home office.
The seller lives oversees and no longer spends as much time in Miami as he once did, Eber said.
The challenge will be in finding the right buyer, Eber said. “This is for the buyer looking for a trophy property. It has all those attributes — the lot size, it’s water front, the location on Star Island. But there are buyers at this time looking to steal the home. They are looking for a major discount.”
The listing price works to about $2,664 per square foot — about$900 per square foot more than “Happy” singer Pharrell Williams paid last week for his new $30 million, 17,000-square-foot pad in Gables Estates.
