Sunset Islands home sells for $20 million

A home at 2550 Bay Avenue on Sunset Island #2 off Miami Beach has closed for $20 million, The Real Deal has learned.

The four-bedroom, four-bathroom home, which has 7,209 square feet of living space, officially closed at the end of December, according New York-based real estate information firm Streeteasy.

The seller was Jorge Chammas Neto, who paid just $2.15 million for the property when he bought it in 1991, according to the Miami-Dade County Property Appraiser’s office. The buyers were Anne and Patrick Markert.

The sale marks one of the largest of 2012. Another Sunset Island home (on Sunset Island #2) at 1835 West 27th Street recently closed for $12.9 million.

It was was not listed on the MLS.