News & Media

Sunset Island estate goes for $9.5 million

A Mediterranean-style residence has sold for $9.5 million in the Sunset Islands area of Miami Beach at 1400 W. 28th St. Based on a building area of 9,933 square feet, the property cost $956 per square foot. The two-story home, built in 2003, has seven bedrooms and 7 ½ bathrooms. A three-story rotunda tower serves as the estate's entry.

The home includes a media, library and billiard room with a bar, along with a fireplace and elevator and built-in outdoor grill. The house features marble, hardwood and keystone flooring. The estate is situated on less than a half-acre lot and includes 100 feet of water frontage as well as a private dock and ocean access. There are fountains, waterfalls, ponds and an infinity pool on the property.

Taxes for 2008 were $162,942, which reflects a homestead exemption. The seller, Michael R. Kelly Trust, purchased the home in 2006 for $11.6 million from Conseco. It was first put on the market in July 2008 and was listed at $15.9 million when Rex Real Estate LLC purchased the property. The listing agents on the current sale were Jill Eber and Jill Hertzberg. The selling agent was Jamie Goff, president and CEO of Douglas Elliman Florida. The property was listed courtesy of Coldwell Banker.

BY DAVID DABBY

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