The Florida Keys luxury real estate market is full of amazing properties, but the most expensive property in the Keys is officially under contract! The property at 10 Cannon Point has been listed since October of 2015 but has recently been updated on the MLS to contingent, which means it is under contract and waiting to clear contingencies before it closes. Listed for an astounding $95 million, the property is actually an expansive private island off shore of one of the most prominent neighborhoods in the Florida Keys - Ocean Reef Club - and is called Pumpkin Key.
Pumpkin Key is a sprawling 26 acre private island in the Florida Keys. It is largely undeveloped, with just one primary three bedroom home currently built. There are additionally two small caretaker villas and a dockmasters apartment as well. The buyer of Pumpkin Key, however, is surely not interested in the home itself, but in the potential for development. As of now, the majority of the island is a lush, tropical and secluded oasis in Card Sound Bay. However, the island has 12 bayfront lots available for development. The entire island is self-sufficient with both water and electricity already in place to all lots. There is also already a 20-slip deep water marina with capabilities to allow for oversized megayachts. The center of the island houses top of the line tennis courts and a helipad, and golf cart paths have been put in place circling the island as well. The potential for the rest of the island is endless. The buyer could renovate existing dwellings, add on to create a family compound, or build megamansions on each of the 12, 1-1.5 acre lots.
The island is part of the prestigious Ocean Reef Club, and all owners would have access to the wealth of amenities offered as members, including dockage at Ocean Reef Club to come and go as they please. Located in Key Largo, residents of Pumpkin Key are just a 10 minute helicopter ride to downtown Miami, and a 10 minute boat ride to shore. There is truly not another piece of property like it, with such easy access to the mainland, top of the line club amenities, peaceful seclusion, and unlimited possibilities. It is with great interest that we wait to see what the new buyers will do with the unlocked potential found in Pumpkin Key - and how much of the $95 million price tag it took to acquire it!
***EDITED TO ADD: As of May 5, 2022 this property has come back on the market.***
Broker's Edge Realty
92300 Overseas Hwy Suite 303
Key Largo, Florida 33070