Former Formula 1 driver sold a waterfront home in the Venetian Islands for $17.29 M

May 16, 2018


126 West San Marino Drive in Miami Beach, Former Formula One driver turned spec home developer Eddie Irvine sold a waterfront home in the Venetian Islands for $17.29 million.

The six-bedroom, 7,300-square-foot house at 126 West San Marino Drive in Miami Beach sold for nearly $2,368 per square foot.

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.

 

Press  and photo credit : The Real Deal South Florida.

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