Waterfront Venetian Islands home sells for $17M

The price on the 7K sf property was cut from its $22.5M asking

Mar.March 14, 2018 02:32 PM

8 West Rivo Alto Drive, Jeff Miller and Allison Turk

A newly built Venetian Islands home just sold for $17 million, marking the second-highest sale on the chain of man-made islands. Still, it represented a near 25 percent drop from the asking.

A company led by Ken and Lisa Rosen sold the 7,100-square-foot waterfront house at 8 West Rivo Alto Drive to an undisclosed buyer, said Brown Harris Stevens Miami’s Jeff Miller. Ken Rosen is founder and CEO of Infinity Sales Group, a telecommunications and broadband services company based in Boca Raton.

Miller listed the property in August for $22.5 million and reduced the price to just under $20 million in December. Allison Turk of EWM Realty International represented the buyer. Turk and Miller declined to comment on the buyer’s identity, but Turk said the family had been looking to buy a property in Miami for years.

The deal, which closed Tuesday, is second in price to the $22 million sale of the 11,600-square-foot spec mansion at 212 West Dilido Drive, which closed in February 2017. Miller said the West Rivo Alto sale is the most expensive on the Venetians to ever close on a per-square-foot basis, at nearly $2,400 a foot.

The Rosens build the home for themselves, but decided to sell it last year. Property records show they paid $6.7 million for the 12,900-square-foot lot on the southwest point of Rivo Alto island in 2014.

Ralph Choeff of Choeff Levy Fischman designed the home, which features an elliptical staircase with a 300-square-foot skylight, smart home technology, oak flooring, a glass elevator, pool and more than 100 feet of waterfront.

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