Real estate mogul Steven Witkoff recently acquired a prominent waterfront property on Sunset Island I in Miami Beach, Florida.

Situated on a 20,522 sq. ft. lot on Sunset Island, this estate is valued at $19 million and boasts 167 feet of water frontage, making it a prime example of upscale residences on the sought-after Sunset Islands.

Built in 1945, the home offers six spacious bedrooms across 5,646 square feet of living space and features manicured grounds that complement the private, gated entrance.

Situated in a neighborhood renowned for its exclusivity, the property combines luxury with scenic water views, appealing to high-net-worth individuals relocating from high-tax states.

Witkoff’s acquisition represents a broader trend among elite developers and investors seeking opulent residences in Florida’s tax-friendly environment.

Prime Location on Sunset Island I

Witkoff’s estate is nestled within Sunset Island I, part of a prestigious chain of four islands, each providing an idyllic, secluded atmosphere.

Known for its luxury waterfront properties and 24-hour guard-gated security, Sunset Island I draws high-profile residents to its private, tropical setting.

The island’s northernmost location, close to South Beach, offers convenient access to Lincoln Road’s renowned shopping and dining.

Sunset Island homes, with their guarded entrances and lush landscapes, offer both tranquility and proximity to Miami Beach’s vibrant lifestyle, making them one of the most desirable locations in the region.

A Property with Development Potential

Built over seven decades ago, this residence carries historical charm but is also ripe for redevelopment, a factor likely contributing to Witkoff’s interest.

This two-story layout includes four bedrooms upstairs and two downstairs, providing a spacious floor plan that allows for future renovations or new construction.

The existing structure could be replaced with a custom-built home that maximizes both the lot’s expansive views and Witkoff’s real estate expertise.

With 9-foot elevation and breathtaking lake views, this Miami Beach estate holds enormous potential for a modern transformation.

Strategic Investment in Tax-Friendly Florida

Witkoff’s purchase aligns with a trend among New York developers and other affluent investors drawn to Florida’s tax advantages.

Following federal tax changes in 2017 that limit state and local tax (SALT) deductions, many wealthy individuals from high-tax states have moved to Florida to benefit from its lack of a state income tax.

With a real estate portfolio already established in South Florida, Witkoff’s acquisition of a Miami Beach estate marks his continued expansion in the region, likely motivated by Florida’s financial incentives for high-net-worth residents.

Additional South Florida Ventures

Beyond this residential acquisition, Witkoff has demonstrated a strategic commitment to South Florida through other ventures.

His company, the Witkoff Group, co-owns the Washington Park Hotel on South Beach, a redeveloped 182-room property.

Additionally, Witkoff was recently in discussions to acquire the Weston Town Center, with plans to introduce a mixed-use complex, potentially including a hotel.

These projects underscore Witkoff’s deep interest in the region and his confidence in Florida’s real estate market, reinforcing his position as a key developer in both residential and commercial sectors.

A Luxurious Miami Beach Investment

Steven Witkoff’s $19 million Sunset Island home stands as both a luxury residence and a strategic investment opportunity.

With a prime location, historical appeal, and redevelopment potential, the property offers Witkoff a blend of lifestyle and financial advantages that align with his professional expertise.

This residence, situated on Miami Beach’s most coveted island chain, exemplifies the allure of Florida’s high-end real estate market for elite developers seeking a blend of exclusivity, scenic beauty, and favorable tax policies.

Photos of the Home

The expansive brick driveway curves gently towards the garage, flanked by verdant trees and dense greenery, enhancing the home’s sense of privacy and tranquility.

This sleek, modern home features a green exterior with extensive windows, allowing natural light to flood the spacious interiors and illuminating the serene setting.

Tall palms cast gentle shadows over the backyard, where a large, comfortable seating area invites relaxation under the clear blue sky.

A pristine pool reflects the lush greenery and nearby waterway, offering a refreshing escape with scenic views of the surrounding landscape.

Panoramic waterfront views stretch beyond the private pool, with distant palm trees framing the picturesque, tranquil waters of the bay.

Sunlight sparkles on the vast expanse of water as the shoreline wraps around, providing a breathtaking vista from the waterfront property.

Clear, azure waters reflect a vibrant sky, while lush plants near the railing add a touch of greenery to the serene lakeside view.

Palm-lined shores and scenic residences decorate the horizon across the calm water, encapsulating a picturesque, resort-like ambiance.

The spacious living room offers a luxurious white leather sectional, centered around a dark, intricately carved coffee table, with expansive glass doors showcasing scenic waterfront views beyond the patio.

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