Miami spec home developers buy waterfront Key Biscayne house

Developers Sergio and Fernando Guardazzi paid $5.2M for the home, which has an attached guest house
By Keith Larsen | June 13, 2019 01:30PM

220 Island Drive

220 Island Drive

A company tied to Miami spec home developers Sergio and Fernando Guardazzi paid $5.2 million for a waterfront house in Key Biscayne.

The Guardazzis bought the 4,900-square-foot house with an attached guest house at 220 Island Drive for $1,061 per square foot, records show. Delphia Enterprises, which lists Rodrigo Ernesto Avila Alvarez as a manager, sold the property.

Built in 1961, the home has three bedrooms and three bathrooms, while the attached guest house has two bedrooms and two bathrooms.

The property has 160 feet of water frontage and sits on a 20,840-square-foot lot. It was last purchased in 1976 for $275,000, records show.

The seller was represented by Brigitte Nachtigall with Great Properties International. The buyer was represented by Alex Lipzer with Key Biscayne Realty Group, Inc, according to realtor.com.

Fernando and Sergio Guardazzi are spec home developers who have built in Miami and Key Biscayne. Fernando Guardazzi built and sold a nearly 10,000-square-foot mansion at 1641 South Bayshore Drive in Miami to Donald J. Edwards for $8.1 million in November.

Key Biscayne is home to a number of high-end homes. In January, a Greek shipping family sold a waterfront Key Biscayne mansion at 250 Harbor Drive for $10.1 million.