Spec home developer Eddie Irvine buys Venetian Islands lot

Two Venetian Island lots less than a mile apart sold to different buyers for a total of $11.4 million, one to developer Eddie Irvine.

Irvine, a former Formula One racer turned spec home developer, paid $5.1 million for the property at 1061 North Venetian Drive. Venetian 1061 LP, a company managed by Kevin Flaherty, the co-founder of Savile Bay, sold the Biscayne Island lot to Irvine’s Spanish Rose LLC.

Julian Johnston of the Corcoran Group brokered the deal. Irvine plans to build a seven-bedroom, eight-bathroom home designed by Max Strang of Miami-based Strang Design, according to the listing. It will include a theater, rooftop terrace and 100 feet of water frontage.

Flaherty paid $5.3 million for the 15,000-square-foot lot in 2017.

In the second deal, Eagle Ventures USA LLC, led by Peter Marano, sold the lot at 1350 South Venetian Way on San Marco Island to Moses David Silverman for $6.25 million. Dora Puig of Luxe Living Realty brokered the sale.

Marano’s LLC paid $5.2 million for the 12,000-square-foot Venetian Islands property in 2013, which included a house that was demolished in 2014.

Irvine has been active this year. He recently sold the nine-bedroom, eight-bathroom home at 1771 North View Drive on the Sunset Islands for $16 million.

The luxury home market has been active throughout the pandemic, especially in Miami Beach and on the Venetian Islands.

Earlier this month, the waterfront mansion at 436 West Rivo Alto Drive sold for $12.8 million, and a Brazilian billionaire sold the waterfront home at 709 East Dilido Drive for $10.2 million – both on the Venetians.

In September, a group of developers sold a newly built Venetian Islands spec home for $13.6 million.