The legendary cul-du-sac, located at 46 Star Island, which was originally built by the "founder" of Miami Beach Carl Fisher, has dropped its price from a city high $65 million to $48 million. The mansion also previously listed via auction without reserve on January 31 with Concierge Auctions in December but did not sell. 

46 Star Island features 10 bedrooms, 12 bathrooms with over 18,356 SF of living area. The estate was completely renovated in 2016 keeping the classic Mediterranean design with modern features such as a new kitchen and updated living areas. Luxurious features and finishes cover every inch of the property such as a large, ornate living room with vaulted ceiling; clerestory and arched casement windows, 3,000-bottle wine cellar, billiard room with wet bar, gym, office, staff quarters, sun room, formal dining room, guest quarters, and a massive chef's kitchen. Outside features over 250' of waterfront complete with lounge areas, exotic landscaping, resort style pool with cabana, and 2 private docks on of which with has a boat lift, all offering stunning views of Biscayne Bay and Monument Island. 

46 Star Island is currently listed for $48 million with listing agents Alexa Iacovelli and Mirce Curkoski of ONE Sotheby's International Realty. 

Photos by Alex Tarajano Photo