Miami Beach’s Venetian Islands have become popular with Silicon Valley moguls like Peter Thiel and Keith Rabois, who are looking to supercharge (and capitalize on) Miami’s emerging digital boom. Real estate prices on the pill-shaped islands, which float just above the smooth waters of Biscayne Bay, reflect the influx of tech money.
Just to illustrate how area homes are increasing in value, this property — an 8,100 square foot Mediterranean-style home with six bedrooms and seven baths — traded in 2018 for $8.7 million before it was purchased in January 2021 for $15.5 million. The off-market buyer was Jamaica- and Miami-based film producer and entertainment executive Alessandra Lo Savio, who has now boldly flipped it back on the market, virtually unchanged, for $28.5 million — a whopping $13 million more than she paid. Repping the 0.32-acre property is Dora Puig of her eponymous agency.
Originally designed in 2006 by well-regarded local architect Ramon Pacheco, the house makes the most of its gorgeous views over Biscayne Bay. Right on the edge of De Lido Island, with 107 feet of waterfront on the Intracoastal Waterway, the estate has a dock for speedboats and jet skis.
Just as it was when Lo Savio bought it a year ago, the living area is open and light-filled, which leads to a family room with archways and tall ceilings. Windows reveal beautiful bay views, and the spiral staircase to the second level is extremely elegant. A flashy glass-enclosed wine storage wall — to be honest we’re kinda iffy about these things — divides the dining room and living room. For more casual snacks, there’s an appealing banquette off the custom kitchen that employs imported designer cabinetry with Opus stone countertops.
Outside, the infinity pool overlooks the bay, and naturally there are many lounge areas and a summer kitchen to make the most of South Florida’s good weather. For security, the estate is both walled and gated.
Lo Savio has produced films such as “The Man Who Killed Don Quixote,” directed by Terry Gilliam, and “Los Viejos.” She is also head of the entertainment company Alcaran Group.