$159M South Florida Palace to Be Auctioned With No Reserve

$159M South Florida Palace to Be Auctioned With No Reserve

Published: October 13, 2018 | By: American Luxury Staff

This almost unbelievably grandiose beachfront estate in Hillsboro Beach is going to auction late this fall. The property has been dubbed Playa Vista Isle, and it certainly is terminally extravagant. The marble-and-gold foyer of the Italian Renaissance-inspired villa provides the tagline for what becomes a rollickingly unabashed trip through the upper-end fringe of residential development.

The scale and detail of the construction are arresting in their accumulated theatricality; the estate was probably intended to be the most lavish in the State of Florida. The building process—which concluded this year—was apparently a labor of perfectionism, and it is estimated that total construction cost tickled the $100 million mark.

There are columns a-plenty, and there is a great deal of gilding. The contemporary 1-2 bed-bath ratio applies, with 11 bedrooms and 22 baths throughout a whopping 30,000 square feet of interior living space; total square footage measures in at 58,000. Amenities include an IMAX Private Theater, numerous water features, two deep-water docks, ocean and IW frontage, a five-acre lot size, and a spectacular pool. Details include some of the more ornate crown moldings we’ve seen in a recent build.

The property was priced at $159 million when it last surfaced on the market. It is going to auction to spur a speedy sale, which could indicate the developing firm got in a wee bit deep on this particular project. Virtual bidding on the home begins November 12, with the live auction scheduled three days later. There is no reserve set.

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