Former F1 driver sells Venetian Islands spec home for $17.3M

It’s the second-highest sale on the chain of man-made islands in Miami Beach

Miami /
May.May 15, 2018 09:45 AM

126 West San Marino Drive in Miami Beach

UPDATED, 11:55 a.m., May 15: Former Formula One driver turned spec home developer Eddie Irvine sold a waterfront home in the Venetian Islands for $17.29 million, according to sources.

Irvine’s Tupelo Sunset LLC sold the six-bedroom, 7,300-square-foot house at 126 West San Marino Drive in Miami Beach, according to the listing agent, Julian Johnston of Calibre International Realty. The property sold for nearly $2,368 per square foot. Luis Bosch previously listed the home, Johnston said. However, Dora Puig of Luxe Living Realty, who represented the buyer, said Bosch was the listing agent.

Puig declined to comment on the buyer.

The two-story San Marino island home hit the market in March 2017 for $19.9 million, according to Realtor.com. It features 90 feet of water frontage, a pool, spa and outdoor kitchen, a gourmet kitchen and a master suite with a private balcony and stairs to the rooftop.

Irvine’s company paid about $5.93 million for the 15,750-square-foot property in 2015. Irvine, who quit racing in 2002, was a runner-up in the 1999 Formula One championship and won about 26 races over the course of his career.

In 2015, his company sold a spec home at 1142 North Venetian Drive for $10.5 million, and listed another Venetian Islands mansion for nearly $30 million.

In March, a newly built home at 8 West Rivo Alto Drive, also on the Venetian Islands, sold for $17 million or about $2,400 per square foot. Alex Sapir, head of Sapir Corp., was the buyer, sources said. It was the second-highest sale price on the island chain until this latest one on San Marino.


Related Articles

arrow_forward_ios
International Inn at 2301 Normandy Isle, Miami Beach (Google Maps)

Miami Beach approves 8-story addition for International Inn

Miami Beach approves 8-story addition for International Inn
Jorge Perez and Jon Paul Perez with Terminal Island (Getty, iStock)

Related gets height increase needed for Terminal Island office project in Miami Beach

Related gets height increase needed for Terminal Island office project in Miami Beach
(Google Maps)

Miami-Dade condo sales and closed dollar volume take a dive at start of year

Miami-Dade condo sales and closed dollar volume take a dive at start of year
An exterior of 1835 West 27th Street, Miami Beach (Douglas Elliman)

Venezuelan oil tycoon sells Sunset Islands waterfront mansion for $17M

Venezuelan oil tycoon sells Sunset Islands waterfront mansion for $17M
 Jeff Blau and One Ocean (Getty)

Related Cos. CEO Jeff Blau sells Miami Beach condo

Related Cos. CEO Jeff Blau sells Miami Beach condo
Roger and Sloan Barnett and Palazzo Della Luna (Getty)

Nutrition guru couple pays $17M for Fisher Island condo

Nutrition guru couple pays $17M for Fisher Island condo
Silvia Coltrane and 7300 Collins Avenue (Corcoran, Google Maps, Manolos)

Silvia Coltrane sells Manolo building near Ocean Terrace project in North Beach

Silvia Coltrane sells Manolo building near Ocean Terrace project in North Beach
Caroline Wozniacki and David Lee and Palazzo Del Sol, Fisher Island (Photos via Getty; The Jills Zeder Group/photography by Lifestyle Production Group)

Caroline Wozniacki and David Lee list Fisher Island condo for $18M

Caroline Wozniacki and David Lee list Fisher Island condo for $18M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...