In Vero Beach, Florida, about 75 miles from Palm Beach, a property developer has listed a 2.5-acre oceanfront compound for what could be a record-setting $60 million price. Libertina Brandt reports in The Wall Street Journal:
A developer in Vero Beach, Fla., is hoping to fetch $60 million for a roughly 2.5-acre oceanfront compound with multiple pools. If the property sells for anywhere near that price, it will set a record for the affluent city about 75 miles from Palm Beach.
Developer Nathan Saks bought the lot in 2018 for just under $3.5 million, according to public records. Mr. Saks is codeveloping the home with Victor Hernandez, founder of the Florida-based construction design and management company Haute & Boss. The home is expected to be finished by late 2024 or early 2025, Mr. Hernandez said.
The property has just over 150 feet of beach frontage, Mr. Hernandez said. Once complete, the gated estate will include a roughly 15,000-square-foot main house with seven bedrooms, plus a 2-bedroom guesthouse. A separate structure will house a fitness center with a spa, sauna, steam room, juice bar and plunge pool. Adjacent to the fitness center will be a 75-foot lap pool in addition to a main pool facing the beach. There will also be a security office at the property’s entrance, which can be staffed with guards, Mr. Hernandez said.
Next to the entryway of the main house, water will flow over 15-foot, hand-carved Yangtze-stone slabs into a reflecting pond. Inside, a 100-foot skylight will run the length of the house, Mr. Hernandez said. The primary suite will have a morning kitchen, lounge and a 450-square-foot bathroom. Plans also call for two elevators, a 600-square-foot entertainment lounge with a screening room, and a wine storage wall with space for 1,400 bottles. The grounds will have a bar, fireplace, summer kitchen, pizza oven, several lounges and a fire pit.
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