The most expensive single-family home for sale in the exclusive Bal Harbor Village section of Miami Beach, Florida, is called Villa Magnolia, and it has an asking price of $35 million.
The view from above Bal Harbor’s most expensive residential listing.Lifestyle Production Group / The Jills Zeder Group
The two-story residence at 182 Bal Bay Drive includes eight bedrooms, 11 baths and more than 12,800 square feet of living space, according to listing agent Jill Hertzberg of The Jills Zeder Group.
Hertzberg told CNBC there are several reasons the property should command the top price tag in the area, “the main one being location, location, location.”
Villa Magnolia’s mansion gate and brick driveway.Lifestyle Production Group / The Jills Zeder Group
The estate was built on the northern tip of Miami Beach, inside a-gated community nestled between the Atlantic Ocean and the Biscayne Bay. The exclusive neighborhood includes its own police force and a marina.
Villa Magnolia’s living room.Photo: Luis Travieso
Villa Magnolia’s asking price puts the home’s price per square foot north of $2,900. For comparison, in the fourth quarter of 2020, the average single-family home in the Miami Beach-Barrier Island area sold for about $3.79 million with an average price per square foot of $1,047, according to the Elliman Report’s luxury real estate data. That places Villa Magnolia at the very top of the market with a price per square foot that’s 277% above average.
Villa Magnolia’s vaulted ceilings and column-filled halls.Photo: Luis Travieso
Hertzberg described Villa Magnolia as “a modern neoclassical-style home.” It features classical elements such as columns, coffered ceilings and hand-crafted stone throughout.
Villa Magnolia’s water frontage spans 221 ft.Lifestyle Production Group / The Jills Zeder Group
One of the home’s biggest selling points, according to Hertzberg, is its 221 feet of water frontage in its backyard.
There you’ll also find a one-story waterfall. The press of a button sends water cascading from an infinity pool on a second-floor terrace into the main pool overlooking Miami’s Biscayne Bay.
182 Bal Bay, Bal Harbour, FLImage source: Luis Travieso
Its waterfront includes 100 feet of dockage clad in white stone.
Inside, the home is equally impressive. Here is a look:
Dining room with Fendi designed furnishings.Photo: Luis Travieso