The Chief Executive Officer of indulgent fashion brand Louis Vuitton purchased a home for $11.7 million on Allison Island in Miami Beach last year. The South Florida waterfront property is a one-acre island property with 200 square feet of waterfrontage with a private dock, guesthouse, and tennis court according to the Wall Street Journal report.
The house was originally listed for $13 million and purchased by the CEO for the just under $12million in January 2014. Demolition of the existing home and construction of a new residence is still underway. Allison Island is unique residential 8.5-acre island in the Biscayne Bay with unobstructed access to the Atlantic Ocean. Location, unique water access and privacy make this island highly desirable for luxurious residential living.
Miami Beach is now one of wealthiest zip codes in America with some of the most expensive properties on the market according to a report by CNN Money. Property prices have doubled in the past couple of years, making the 33139 zip code, the fourth wealthiest real estate community in America.
Top three priciest zip codes in United States are:
- Beverly Hills, 90210
- New York, 10013
- Aspen, 81611
Miami Beach, located in sunny South Florida, is home celebrities, sports super stars and moguls from around the world. The international city’s year round warm weather, rich history and award winning beaches have attracted a thriving film, television, music economy. For several years, the Travel Channel has listed the “Top Ten Beaches” and the only one in the continental United States honored has been Miami Beach.
To date, the sale of this property was the most expensive for Allison Island, Miami Beach.