Russell Pancoast-Inspired Mediterranean Headed to Luxury Auction

Formerly listed at $7.85 million, this Russell Pancoast-inspired home on Di Lido Island in the Venetian Islands is headed for a live auction on May 6th with Platinum Luxury Auctions.

The Mediterranean home is just over 5,000 square feet and has five bedrooms, 5.5 bathrooms, and 60 feet of water frontage. Design accents include terracotta, travertine, oak flooring, and Italian coffered ceilings.

"One of the most appealing aspects of this property is its location," says Trayor Lesnock, President of Platinum Luxury Auctions. "It offers an island lifestyle in a very private community comprised entirely of single-family homes, all while being within minutes to both downtown Miami and the heart of South Beach."

The reserve price is $3.9 million and it last sold for $630,000 way back in 1993.