Louis Vuitton CEO buys Miami Beach home
Jan 28, 2014 January 28, 2014
|Allison Island and Michael Burke - Photo Credit: The Real Deal|
The CEO of Louis Vuitton, Michael Burke, recently purchased a home on Allison Island for $11.7 million. The one-acre estate features a guesthouse, tennis court, private dock, and approximately 200 square feet of waterfront. Burke, who plans to construct a new home on the site, purchased the property from Frank and Phyllis Bramson.
The original home, constructed by the Bramsons in 1962, is already in the process of being demolished. Although originally listed at $13 million, the reduced sales price marks the most expensive sale to date in Allison Island. Traditionally, property prices have not been as expensive in Allison Island; however, as land becomes increasingly more of a premium, prices have begun to surge.