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Maria Sergeeva
January 11, 2018

Miami Beach, the city that has long been one of top holiday destinations for millions of visitors from across the country and around the world, has become one of the ideal locations to buy a property on the coastal area. For instance, in 2013 real estate in the city was worth more than $23 billion and its tourism industry reached record levels.

Many millionaires and stars from all over the world buy or consider investing in real estate in Miami.

No wonder if a Miami Beach mansion, which spans 11,000 square feet, hit the market Wednesday for $38 million becoming the city’s fourth most expensive property for sale, according to listing records.

The house, built in 2017, has previously been home to Billy Joel, rapper Lil Wayne and U.K. billionaire Mike Ashley.

Situated on the prosperous La Gorce Island, in Miami Beach, Fla., 34, La Gorce has been introduced to the market for $38 million. It was purchased in 2014 for $14 million by 34 La Gorce Circle Partners, a company controlled by developer Thomas Danluck, records with PropertyShark show. The sale reportedly set a Miami-Dade County record for price per square foot at the time. Mansion Global could not independently confirm this.

This pearl features seven bedrooms, eight full baths, and two half baths. Spread across 11,000 square feet, the two-story manse displays Ipe-wrapped exteriors, a living bougainvillea wall, a meditation garden with 30-foot-tall bamboo, and an eye-catching spiral staircase that is encircled by a water feature.

The home’s second story—which includes four bedrooms and a living room—can be accessed via the staircase or a private elevator. Each of the bedrooms are equipped with glass balconies, walk-in closets, and travertine marble, but the master suite takes it up a notch with a wraparound balcony, a kitchen with a wine cooler, his-and-her baths and closets, and a glass-enclosed gym with a steam shower and outdoor shower.

 “This newly built estate is an embodiment of the best craftsmanship, incredible design, spectacular views, and the absolute pinnacle of waterfront luxury,” Ms. Hertzberg said in a news release.