Venetian Islands Attracts String of Resi Buyers

A former vice president of Royal Caribbean paid $17.3 million for a waterfront home on the Venetian Islands, adding to a string of recent sales on the island chain.

Brad Miller and his wife, Jill, bought the 6,500-square-foot, six-bedroom house at 1041 North Venetian Drive, property records show. Developer Humberto Ramirez completed the home late last year on a 9,000-square-foot lot, he said. Ramirez and Eddy Rengifo, who are licensed with Avanti Way Realty, also listed the house. Julian Johnston of the Corcoran Group represented the buyer.

The property sold within three months of hitting the market, Ramirez said. He said the deal is illustrative of how buyers are looking for custom homes with luxury finishes, not properties built on spec. Buyers in this price range “know exactly what they want,” Ramirez said.

Amir Kermani, a Miami-based chiropractor, also seized on an opportunity to buy on the Venetian Islands. Earlier this month, Kermani sold his 8,800-square-foot, six-bedroom home at 4340 North Bay Road for $25 million and paid $10.3 million for the vacant waterfront lot at 1230 South Venetian Way, on the same Venetian island as the Millers. The property allows for a more than 9,000-square-foot mansion, according to the listing.

Johnston represented Kermani in both deals, as well as the seller on the lot. James Vanas, with the Corcoran Group, represented the buyer in the North Bay Road deal.

Earlier this month, Fred Mann sold his 4,000-square-foot, five-bedroom house at 1001 North Venetian Drive to a Delaware LLC for $10.5 million, about 19 percent off the asking price, according to property records. Shelton and Stewart Realtors represented the seller, while Serhant’s Scott Porter represented the buyer. The house, built in 1938, sits on a 0.3-acre lot.

And while buyers are negotiating down from asking prices, sellers are still making money. The property previously traded for $6.2 million in 2021.

228 and 302 West Dilido Drive (Getty, Luxe Living Realty – Dora Puig)

Also in March a waterfront double-lot on Di Lido Island, on the Venetians, sold for $24.5 million. The half-acre property at 228 and 302 West Dilido Drive was approved for a home with six bedrooms, eight bathrooms, four half-baths, a gym, spa, library and media room. Dora Puig of Luxe Living Realty was the listing agent, and the Corcoran Group’s Mick Duchon represented the buyer, whose identity is hidden.