An oceanfront compound on Plantation Key just hit the market with a jaw-dropping $40 million asking price, a number that would blow past most recent sales in the Florida Keys if it survives all the way to closing. The multi-parcel spread links a brand-new main residence with a renovated guest house along a stretch locals know as Millionaire’s Row, serving up the rare combo of a private sandy beach and deep-water dockage in one package.
What’s for sale
As detailed by Mansion Global, the new main house spans roughly 8,200 square feet with five bedrooms, set on grounds that feature a resort-length pool of about 120 feet and nearly 480 feet of private sandy waterfront. The estate sits on multiple adjoining parcels that once formed naturalist Herbert Zim’s longtime family compound, and the seller says a renovated guest house and a grandfathered deep-water basin are part of the deal.
How it’s priced
Major listing platforms show the property marketed as a combined $40 million package. The structure also allows the two waterfront parcels to be split, with the main-house lot and pool offered at about $27 million and the guest-house parcel at roughly $15 million, according to Zillow. The seller told The New York Post that the pieces can also be combined in other ways, with some configurations totaling $42 million.
Where it would rank
If a buyer comes close to the ask, the sale would vault past the most recent high-water mark in the Keys. Barstool founder Dave Portnoy’s roughly $27.75 million Islamorada purchase in October 2025 is widely viewed as the current record for the island chain. The Real Deal reported on that deal and the growing appetite for large, resort-style Keys compounds.
Why buyers might bite
Listing agent Angel Nicolas of Serhant is betting the property’s deep-water basin and true private beach will do most of the talking. “The draft is over 6 feet, so you can have a pretty large boat there,” he said, according to Mansion Global. Seller and developer Todd Maino told The New York Post he deliberately left some cosmetic finishes undone so a buyer can “make it their own,” and the brokerage says interest so far has come from very high net worth prospects.
What it means locally
Across the Upper Keys, large and developable waterfront tracts like this are getting harder to find, a theme the listing team has underscored in both its local commentary and internal market notes. The Nicolas Group and local MLS data show the listing went live this month, and insiders are watching closely to see whether it sets a new benchmark at the outer edge of South Florida’s trophy home market.
