Luxurious Oceanfront Investment Estate in Islamorada Listed for $42 Million

A stunning oceanfront estate in Islamorada, located in the Florida Keys, has been listed for $42 million. The property, owned by Kurt and Kathi Westman, spans approximately five acres and features high-end amenities designed for comfort and entertainment.

The couple purchased the land in 2011 for $3 million and transformed it from a former fish farm into a luxury residential retreat. The estate includes a private beach, multiple Tiki huts, and a resort-style heated pool with a grotto and waterfall.

Its prime location and extensive upgrades make it one of the most desirable properties in the region. The main house, completed in 2017, offers approximately 11,000 square feet of living space. It features two bedrooms in the primary residence, while three additional bedrooms are located in a separate guest house connected by a breezeway.

The home is designed with high-end finishes, hurricane-resistant windows and doors, and a layout that maximizes ocean views. A formal dining room, two offices, and a wine cellar with storage for about 1,000 bottles add to the estate’s appeal.

Every detail was carefully planned to create a luxurious yet functional living space. Beyond the main residence, the estate is equipped with multiple recreational and leisure amenities. A private dock provides easy access to the ocean, making it ideal for boating enthusiasts.

A tennis court, a saltwater pond filled with native marine life, and ample outdoor lounge areas enhance the property’s resort-like atmosphere. These features make the estate a rare find in the Florida Keys, catering to those seeking privacy, space, and high-end comforts.

The expansive property is designed to offer a balance of relaxation and activity, making it suitable for both full-time living and vacation use. The Westmans, who have spent decades vacationing in the Florida Keys, decided to build their dream home after struggling to find a property that met their needs.

Following Kurt’s retirement in 2018, they split their time between Florida and Colorado. Recently, they completed a new home in Salida, Colorado, where they now spend most of their time. With their focus shifting to their new residence, they have decided to sell their Islamorada estate, which is no longer a necessity for their lifestyle.

If the estate sells near its asking price, it could set a record for the Florida Keys real estate market. The current highest sale in the region occurred in 2023 when a property in Islamorada sold for $23 million. Listing agents Eric Rizzo and Russ Post of Ocean Sotheby’s International Realty believe the estate’s size, features, and location justify the asking price.

They also point out that a comparable property in Miami or Palm Beach would likely command a much higher price. The Florida Keys have seen increased interest from high-net-worth buyers in recent years, leading to rising home values and more luxury developments.

The appeal of the Florida Keys has grown due to its unique island lifestyle, natural beauty, and relative affordability compared to other luxury markets. The area offers a blend of privacy and accessibility, attracting buyers looking for a tropical retreat without the congestion of larger cities.

With limited oceanfront properties available, estates like this one are in high demand. As interest in luxury homes in the Florida Keys continues to rise, this property represents a rare opportunity to own one of the most exclusive estates in the region.