A Miami estate has been sold for $50 million, setting the record for the most expensive single-family home ever sold in the city's metropolitan area, people familiar with the deal told CNBC on Wednesday.
The house, which is on Indian Creek Island, has more than 20,000 square feet and is on two acres of property overlooking Biscayne Bay. In addition to a 100-foot swimming pool, the estate has 10 bedrooms, 14 bathrooms, a 3,000-square-foot master suite, rooftop lawn, chromotherapy spa, a 3D movie theater, and two kitchens.
The property was not officially listed but had sold in 2012 for $47 million, making it at the time a record for the most expensive home ever sold in Miami-Dade County.
The sale comes in the midst of a strong start to the real estate market this year in South Florida, with experts saying the new tax law makes it more attractive to live in low-tax states, according to NBC.
The names of the buyer and seller of the home were not disclosed.
The Miami Herald points out the most expensive home of any type ever sold in the city's metropolitan area still belongs to the eight-bedroom penthouse and adjoining unit below at the Faena House tower in Miami Beach, which were sold together in 2015 for $60 million.
Those properties were never combined into one unit.