Gilded Miami Beach Mediterranean-style mansion sold for $30M

This stunning beachfront residence is situated on 1.62 acres in the exclusive gated community of La Gorce Island, Miami Beach, Florida. Dubbed Castello del Sol, the Italian-style luxury compound features an 8 bedroom, 11 bathroom main house, a one bedroom guest house, a two-bedroom two-bath staff apartment, an on-property guard house and a professional gym.

Miami home (8)

The Italian-style estate which encompasses 70,000-square-foot used to belong to banker David Paul, head of CenTrust Savings Bank, who was sent to prison for embezzlement in the 1990s. The seller, a corporation, bought the estate in 2001 for $12,450,000 and now sold it to a European corporation for more than double the sum. According to Miami Herald, the estate was first listed for 37 million dollars but had its ask price chopped by $7 million. The deal was the second $30M-sale in Miami in one month.

The new owner can be proud of the 3 teak docks with room enough for a massive yacht, a lighted tennis court, a large sparkling lagoon-styled swimming pool and tiki bar, almost 400’ of Biscayne Bay waterfront. It is very much resort-like, which gives even its owners the feeling they are staying at an exclusive hotel.


This epitome of Miami affluence is adorned with hand-painted ceilings, gold-leaf trim, antiques, it boasts double kitchen, rotunda ceiling, safe room, theater and library and a 5-car garage. The property was toured by Forbes and on that occasion plush Versace furniture was brought in to don a gold, royal blue and blood red color scheme.

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