Miami Manor has more than doubled the price to $48 million

This Florida mansion is twice as big as it used to be — at least for its price.

A 80,000-square-foot Mediterranean-style space in Miami’s historic Coconut Grove neighborhood has more than doubled in price after several years on the market.

The five-bedroom, six-bathroom bayfront mansion was originally listed for $28 million in 2017 before being demolished in November and relisted for $25 million. This price point gradually lowered over the following months before hitting a low of $18.7 million in May 2019. Insiders reported. It was pulled from the market again in July 2019 before relisting this month for $48 million — more than double its original asking price.

The double list price reflects in part a renovation completed last year by owner, Ernst Swietelsky, the retired founder of wholesale floral supplies, Pots Company Importer. The work included updating the kitchen and lighting fixtures, said listing agent Elena Bluntzer of ONE Sotheby’s International Realty The Wall Street Journal.

The price increase can also be explained by the fact that “the South Florida market has gained tremendous momentum since 2019,” with sales in the $5 million and above range up 360% over the past year compared to 2019. have risen, Bluntzer said to the publication.

The reason the home couldn’t initially be sold wasn’t a lack of interest, she added, but because Swietelsky was hesitant to sell the three-story mansion before his children finished high school. Now his youngest is graduating, and he’s finally ready, Bluntzer said.

Swietelsky purchased the 0.2-acre lot on which the home, Villa Positano, sits for about $880,000 in 1997, or about $1.59 million today, the Journal reported. The home features over 300 feet of waterfront, new seawall, pebble pool, 40 foot boat dock with boat lift, arched carport, elevator and ceilings between 10 and 30 feet. There are Jerusalem stone and mahogany floors throughout and “four-foot-wide Caribbean-style terraces on each level,” according to the statement a website for the property.

The design of 3080 Munroe Drive is inspired by Swietelsky’s childhood growing up in his family’s rural villa in the Austrian mountains south of Salzburg.

“This experience touched my soul so much that I went in search of a comparable country in the tropics,” he said, according to the website.