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Former Formula One Driver Sells Venetian Islands spec home for $17.3M

May 18, 2018

126 West San Marino Drive in Miami Beach may be gone… but you have all of this to choose from

Former Formula One driver turned spec home developer Eddie Irvine sold a waterfront home in the Venetian Islands for $17.29 million, according to sources. Six-bedrooms, 7,300SF on the Venetian Islands in Miami Beach.

The two-story San Marino island home hit the market in March 2017 for $19.9 million, according to Realtor.com. It features 90 feet of water frontage, a pool, spa and outdoor kitchen, a gourmet kitchen and a master suite with a private balcony and stairs to the rooftop.

Irvine’s company paid about $5.93 million for the 15,750-square-foot property in 2015. Irvine, who quit racing in 2002, was a runner-up in the 1999 Formula One championship and won about 26 races over the course of his career.

In 2015, his company sold a spec home at 1142 North Venetian Drive for $10.5 million, and listed another Venetian Islands mansion for nearly $30 million.

In March, a newly built home at 8 West Rivo Alto Drive, also on the Venetian Islands, sold for $17 million or about $2,400 per square foot. Alex Sapir, head of Sapir Corp., was the buyer, sources said. It was the second-highest sale price on the island chain until this latest one on San Marino.

View all Miami Beach Island Homes here

 

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