Dave Portnoy, the founder of Barstool Sports, has significantly expanded his real estate holdings with the acquisition of a luxury waterfront property in Islamorada, Florida. The entrepreneur paid $27.75 million for the expansive compound, located in the Florida Keys. This purchase marks another high-value addition to his personal portfolio.
Key Takeaways
- Dave Portnoy purchased a Florida Keys waterfront compound for $27.75 million.
- The property spans 1.65 acres in Islamorada and features 150 feet of private waterfront.
- The estate includes a 10,228-square-foot main house and a separate 2,666-square-foot guest house.
- Luxury amenities include an outdoor kitchen with a pizza oven, a wine cellar, and multiple pools.
Islamorada Waterfront Compound Details
The newly acquired estate is situated on 1.65 acres of bayfront land in Islamorada, a prominent chain of islands in the Florida Keys. The property boasts 150 feet of private waterfront, providing direct access to the water. It also includes dedicated dockage and a private beach area. A boat ramp enhances water access for the new owner.
Originally, the property was listed for $31.2 million. Portnoy's acquisition price reflects a negotiation from the initial asking sum. The compound offers a blend of classic island luxury and contemporary amenities, designed for a high-end lifestyle.
Property Snapshot
- Purchase Price: $27.75 million
- Original Listing Price: $31.2 million
- Location: Islamorada, Florida Keys
- Total Land Area: 1.65 acres
- Waterfront: 150 feet of private bayfront
- Total Bedrooms: 8
- Total Bathrooms: 10 (9 full, 1 half)
- Total Square Footage: 10,228 sq ft
Luxury Living Spaces and Amenities
The compound features a substantial main house and a separate guest house. The main residence spans 7,552 square feet and includes five bedrooms and six full bathrooms. Inside, the kitchen is equipped with high-end appliances, such as four Sub-Zero refrigerators and a built-in Miele coffee system. Marble and dolomite countertops adorn the space, alongside a wine tap.
Further enhancing the luxury experience, the main house contains a 180-bottle glass wine cellar. A handmade wood bar with a wood sink provides a unique touch. The living room is media-ready, featuring blackout shades for optimal viewing. These features highlight the property's focus on entertainment and comfort.
"We welcome him to Islamorada and wish him all the best in his new private Florida Keys escape," said Leslie Leopold of Ocean Sotheby’s International Realty. "This property is the first of its quality and caliber in this area to trade. As more new construction, or totally remodeled homes and larger estate properties come on market, we believe we will see more trading in this price range, if not higher."
Islamorada Real Estate Market
Islamorada is known for its high-value properties and luxury real estate. The sale of Portnoy's new compound reflects a growing trend of significant transactions in the area. Experts anticipate continued activity in this price range, or even higher, as new and renovated estates become available.
Indoor-Outdoor Design and Guest Accommodations
The estate emphasizes an indoor/outdoor living aesthetic. Covered porches offer panoramic bay views, providing residents and guests with scenic overlooks. An outdoor kitchen is a central feature, complete with an Italian brick pizza oven, a flat grill, and a smoker. This setup allows for extensive outdoor cooking and dining experiences.
A separate guest house provides additional living space. This structure measures 2,666 square feet and includes three bedrooms and four bathrooms. It has its own private gated drive and a private swimming pool. The guest house kitchen is fitted with JennAir appliances, maintaining the luxury standard of the main residence.
- Main House: 5 bedrooms, 6 full baths, 7,552 sq ft
- Guest House: 3 beds, 4 baths, 2,666 sq ft
- Outdoor Amenities: Pizza oven, flat grill, smoker, multiple pools
The Sellers and Market Impact
The property was sold by Caryl and Thomas Donatucci. They acquired the vacant lot in 2019 for $2.3 million. The Donatuccis stated that their decision to sell to Portnoy was a business transaction, not influenced by their appreciation for his media work.
According to Thomas Donatucci, "I love football and sports but this is business." This statement underscores the transactional nature of the deal. The sale highlights the robust demand for luxury properties in the Florida Keys market, indicating a strong appetite for high-end real estate among affluent buyers.
Leslie Leopold, who represented the property, noted the significance of this sale. It sets a precedent for future transactions in Islamorada, suggesting a potential increase in the value of similar high-caliber properties. The Florida Keys continue to attract buyers seeking exclusive waterfront compounds and luxury amenities.
