Venetian Islands villa sells for $12.5M

Home was gutted and renovated roughly four years ago

Oct.October 12, 2015 12:45 PM

A waterfront villa in Miami Beach’s Venetian Islands was just sold for $12.5 million, The Real Deal has learned.

The home, located at 44 West Rivo Alto Drive, was built mid-century and is styled like a beach house. Its white interiors are offset by warmly colored furniture and wood floors, and many of its rooms open up to the bay through large glass double-doors.

Listing agent Dora Puig told TRD that the home was on the market for roughly seven months before closing. The house measures 7,418 square feet, so the price breaks down to $1,685 per square foot. It was sold unfurnished.

“The Venetian Islands are so hot right now,” said Puig, broker/owner of Luxe Living Realty. “This year, the islands are getting comfortable [with prices] north of $10 million; It’s a place that’s obviously in high demand.”

The seller, whom Puig declined to name because of a confidentiality agreement, has another home to which he is moving. Miami-Dade County property records show the owner is 44 Miami LLC, which is managed by Madeleine Mendez. Her address leads back to an accounting firm in Coral Gables.

Roughly four years ago, Puig said, the home’s interiors were completely gutted and renovated.

The home also features 90 feet of water frontage on the island’s western side and a 75-foot boat dock.

Luis Felipe V. de Souza of Brown Harris Stevens | Zilbert, the newly formed partnership between Zilbert International Realty and Brown Harris Stevens, represented the buyer.

Souza said the buyer, whom he also could not name due to confidentiality, was attracted to the home partly because of its over-sized, 15,000-square-foot lot and large dock.

“The housing market in the Venetian Islands is hotter than the condos right now,” Souza said. “They’re amazing, unique properties under $2,000 a square foot that really stand out from the rest of the properties in Miami Beach.”

Related Articles

Techrin Hijazi with Brown Harris Stevens Miami, and Ivan Ramirez with Royal Palm Residences sales team

Movers & Shakers: Techrin Hijazi joins BHS Miami, Royal Palm project names sales team & more

Jesus Quintero and Phil Gutman, with a rendering of Quint Hollywood

Brown Harris Stevens tapped to sell Quint Hollywood townhome project

320 West Rivo Alto Drive, Dora Puig and Alissa Pool (Credit: Instagram) 

Fitness mogul buys Venetian Islands house

120 West Rivo Alto Drive, Julian Johnston and Silke Dietrich

Beauty moguls buy Venetian Islands spec home for $12M

Daily Digest Miami

LeBron James’ Unknwn store is opening Dec. 5, Palm Beach Gardens showroom trades for $10M

802 West Dilido Drive with agents Dina Goldentayer and Miltiadis Kastanis (Credit: Douglas Elliman)

Developer gets $15.6M for Venetian Islands spec home

Javier Rodriguez and Andy Ziffer (Credit: Wikipedia) 

Movers & Shakers: Fort Lauderdale broker joins Compass

Andrea Masses and Nirka Burns

Movers & Shakers: agents join Fortune, Brown Harris Stevens, One Sotheby’s & more