The largest residential property in ritzy Key Biscayne, Florida—a celebrity haunt surrounded by 750 feet of water frontage—will hit the auction block on Thursday afternoon with Concierge Auctions.
The lavish waterfront mansion is owned by a corporation reportedly tied to a Canadian concert promoter, former Live Nation chairman Michael Cohl. The home, which first hit the market in 2015 for $36 million, will go to auctionwithout reserve on Thursday at 4 p.m. through Concierge Auctions, according to listing agent Billy Nash of The Nash Group at Keyes Realtors.
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Buyers will have 72 hours to cast bids, said Mr. Nash, who declined to discuss the owner.
The home spans two parcels, 1.67 acres in total, at the tip of a finger of land jutting into Biscayne Bay.
The home first hit the market in 2015 for $36 million, when news of the listing trumpeted the property for its celebrity guests. The owners reportedly hosted Beyonce, Rihanna and Julia Roberts at the lush, private estate.
More than 12,500-square-foot of interior space offers plenty of room for guests, famous or not.
There are nine bedrooms and 11 full-size bathrooms in the house. Other Spanish-style architectural features include vaulted, beamed ceilings and a red-tiled courtyard at the heart of the main house.
Large windows and outdoor terraces overlook lush tropical landscaping by Raymond Jungles and private sandy beaches.
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The property also encompasses a pool, two docks, a 16-seat home theater and gym, according to the listing with Concierge Auctions.
The home last sold in 1999 for $5.761 million, according to property records.
Mr. Cohl could not immediately be reached for comment.