A spec home on Allison Island in Miami Beach was recently completed and has hit the market asking $24 million.
The 10,632-square-foot home was designed by Ralph Choeff of CLF Architects and is the priciest residence for sale on the small island nestled inside the Indian Creek waterway.
It has seven bedrooms, 11 bathrooms, and 110 feet of water frontage.
"This estate elevates all of Allison Island," says listing agent Jeri Jenkins of Coldwell Banker. "A listing like this will catapult what is now an undervalued island into its well-deserved strata. It is the only guarded island besides Star and Indian Creek that has only waterfront estates without interior homes. On other islands, properties of this magnitude are priced three to four times higher."
The home features a saltwater infinity edge pool, panoramic views of the bay, a pond system, theater room, and a 2,400-square-foot master suite.
The property last sold for $4.4 million in 2013.