Unfinished Vero Beach estate hits market for record $60M

Oceanfront compound will feature four stand-alone buildings

Haute & Boss's Victor Hernandez
Haute & Boss's Victor Hernandez and unfinished Vero Beach property (Linkedin, Haute & Boss, Getty)

A still-under-construction, 21,000-square-foot oceanfront estate with 155 feet of waterfront in Vero Beach, Florida, has been listed for $60 million, a record for the city.

Developer Nathan Saks bought the 2.5-acre parcel for about $3.5 million in 2018. On it, he and Victor Hernandez of Haute and Boss are co-developing an estate with four stand-alone buildings: a 14,700-square-foot, eight-bedroom, 11-bathroom main house; a guest house with its own private pool; a fully equipped spa, wellness & fitness center; and a security office, the Wall Street Journal reported.

Construction on the estate — dubbed Villa Paradiso — is expected to be finished sometime next year, according to a press release.

The two-story main house’s entrance will be flanked by seven, 15-foot-high waterfalls and reflecting ponds. The luxe home will include a great room with a 100-foot-long glass skylight that runs the length of the house, a wet bar, 1,400-bottle wine storage wall, main kitchen, a catering kitchen, 450-square-foot master bath, 600-square-foot entertainment lounge with a screening room and children’s playroom, two private offices, two elevators, full-height sliding glass doors, and large windows that face the Atlantic Ocean.

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The 2,300-square-foot guest house will have two bedrooms, a kitchen, living room, dining room and two-car garage. The 2,200-square-foot wellness center will come equipped with a fitness and yoga room, treatment and massage room with a Zen waterfall, gym lounge and bar, sauna and steam room and locker room with a shower.

Like most areas of the country, the Vero Beach housing market has slumped of late. Home prices were down 4.3 percent — to $325,000 — in December 2022, versus the same time last year, according to Redfin. In addition, 81 homes sold in December 2022, versus 142 in December 2021, a 43 percent drop.

— Ted Glanzer