Teavana co-founder Andrew Mack has purchased Playa Vista Isle for a massively discounted $42.5 million. The Versailles-inspired estate in Hillsboro Beach made headlines when it hit auction in November after being listed for $139 million in 2014 and raising to $159 million in 205 before being delisted in 2016. Playa Vista Isle is a Neoclassical work of art that is spread out on five acres on one of the highest points of Florida's "Millionaires Mile," and was one of the most expensive real estate listings in the country. The estate was auctioned without reserve at a live auction on November 15, 2019 via Concierge Auctions in cooperation with ONE Sotheby's International Realty and the $42.5 million does not include the buyer’s premium. The auction received attention from 11 bidders before Andrew and Nancy Mack won with the highest bid which is the most expensive residential sale ever to close in Broward County as well as the most expensive to close in 2018. Playa Vista Isle was developed by Robert Pereira, previously called Le Palais Royal, with construction costs in excess of $100 million.
Sean Murphy of Coastal Construction has previously stated, “Our client not only wanted a house with world-class finishes, he wanted a house built to last generations. At every stage of construction, no expense was spared. A house this size with the same spare-no-expense approach, ultra-high-end finishes, and over-the-top unique features like an IMAX theater, could easily have construction costs in excess of $100 million for the building itself.”
The estate was completed in 2018 and ideally located in Hillsboro Beach, which is midway between the metropolitan areas of Miami and Palm Beach, Playa Vista Isle is the only Ocean-to-lntracoastal Waterway estate on the entire Gold Coast to offer both 500± feet of private oceanfront beach as well as two deep-water docks. Play Vista Isles spans 58,000 SF with 11 bedrooms and 22 bathrooms matched with world class amenities including the world's first private 3D-IMAX© in-home theater, a 20-car garage with secure tunnel access, 3,000± bottle wine cellar with individually-controlled temperature and humidity secured by biometric access with an adjacent tasting room, 4,500-square-foot heated infinity edge pool, a Jacuzzi perched 40 feet above the ocean featuring unobstructed panoramic views of the horizon, 13 water features including six waterfalls, and a putting green. The property was carefully constructed using hand-selected finishes from around the globe highlighted with 22-karat gold leaf gilding.
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