Miami Beach Spec Mansion on Venetian Islands Sells for $28 Million to New York Tech CEO

A newly built spec mansion on Miami Beach's Venetian Islands sold for $28 million, highlighting the continued strength of the area's luxury real estate market. The 12,000-square-foot estate, located at 212 West Dilido Drive, was developed by luxury homebuilder Eduardo Otaola.

A New York-based buyer, reportedly a tech CEO, purchased the property through a Delaware LLC. This transaction closed at approximately $2,333 per square foot. The sale price represents a significant figure for the area, especially for a non-waterfront home on Dilido Island.

The mansion features seven bedrooms, an infinity pool, a home theater, and a 100-foot dock. These amenities contribute to the property's appeal in the high-end market. The original asking price for the estate was $32 million when it was first listed in December.

This sale marks one of the highest prices recorded for a non-waterfront home on Dilido Island. The continued demand for luxury properties in Miami Beach reflects a broader trend of high-net-worth individuals investing in the region's real estate.