Buyer Pays $10M for Postcard View of Downtown Miami

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An international buyer looking for a home with a “postcard view” of downtown Miami just paid $10 million for just that, the Miami Herald reported.

Located on Dilido Drive on the Venetian Islands, the residence boasting picture-perfect views resides on a 13,408-square-foot lot.

It currently houses a 1933-built, five-bedroom, four-bathroom home, which will be torn down and rebuilt. The property was last sold for $800,000 in 1997.

According to the Miami Herald, the price averages to $746 per square foot, and the average land value price for waterfront homes on the Venetian Islands ranges from $450 per square foot, to $500 per square foot.

Listing agent Dora Puig of Luxe Living Realty represented both the seller, Alain Berdouare, and the buyer, whose identity was not disclosed. Sources reportedly told the Miami Herald that the buyer is from South Africa.

Image courtesy of Dora Puig

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