The Real Deal Miami

Morgan Stanley exec lists Palm Island manse for $22M

Mansion, built in 2011, is on the market for more than $2,000 psf

March 25, 2016 03:00PM

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288 South Coconut Lane

288 South Coconut Lane

Morgan Stanley executive Candido Viyella and his wife Anabella put their Palm Island mansion in Miami Beach on the market this week for $21.8 million.

Property records show the nearly 11,000-square-foot, four-story home at 288 South Coconut Lane was completed in 2011. Candido Viyella, a managing director at Morgan Stanley, and Anabella Viyella bought the lot in 2009 for $2.7 million, or $193 per square foot for the land. Now, it’s on the market for about $2,020 per square foot.

Architect Ramon Pacheco designed the nine-bedroom, nine-bathroom mansion. The property includes a waterfront pool, private dock, rooftop terrace, four-car garage and a smart home technology, according to the listing. Douglas Elliman’s Hilda Mendez Jacobson and Ysha Arteaga are representing the owners.

Palm Island, connected to Hibiscus Island and near Star Island, is accessible via the MacArthur Causeway. The island has been home to Al Capone, as well as the ex-wife of New York Yankees star Alex Rodriguez, who sold her mansion for $5.6 million in January. Earlier this year, the Miami Beach Commission rejected an ordinance that would have limited the lot coverage and unit size of new single-family homes being built in the city. – Katherine Kallergis

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