Mansion Global

Why Buy One Miami Mansion When You Can Buy Two?

For $45 million they could be transformed into a compound

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Got a spare $45 million burning a hole in your pocket? Then why not buy two neighboring Miami beach mansions.

A $22 million mansion in the exclusive Miami Beach gated community of Sunset Island II is about to hit the market directly next door to a property that has already been listed for close to $23 million. Together, they boast 40,000 contiguous square feet of waterfront.

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"This would be perfect for someone who might have a big family, and can turn it into a compound. Otherwise, there is the option of knocking down one of the houses," said Miami-based Compass agent Melissa Rubin, who is marketing both homes.

The five-bedroom, 10-bathroom home at 1511 W. 27th St., which is to be listed next Monday, Nov. 28, has an elevator, large-vessel dock, NBA-grade half-court basketball court, jet ski dock, direct access to Biscayne Bay and staff quarters. It was built in 1946, but has been completely renovated.

The adjacent home at 1435 W. 27th St., which was built in 2013, is already listed—and has been for a while now.  The 10,500-square-foot property was the official Elle Décor Art Basel Concept Home for the year it was built, but has since been renovated by the current owners.

The mansion, which has seven bedrooms and seven-and-a-half bathrooms, originally hit the market back in October 2015 for $26.188 million, but the asking price has since been lowered to around $22.89 million.

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Each home has a different owner (one of the owners asked to remain anonymous) so a discount for buying the two, as often happens with similar sales, is not currently being offered.

There are only around 140 homes on Sunset Island I and Sunset Island II, two adjacent gated communities. Lenny Kravitz once owned a home on the latter, which he sold in 2005. That same house, in fact,  a six-bedroom Mediterranean-style home with a private beach, has just been put up for sale by its current owner for $25 million.