An oceanfront Florida Keys estate with nearly every over-the-top amenity imaginable has hit the market for $24.99 million—complete with a private Baccarat ballroom, a 100-foot dock, and a private beach. Built in 2023, the seven-bedroom Islamorada megamansion is designed to host up to 14 guests in style, offering a veritable playground of features that awe, delight, and entertain. Known as The Chateau on the Ocean, the 10,182-square-foot custom estate spans nearly two acres between Miami and Key West, and is listed with Pamela Dimartino of Coldwell Banker Realty. The property includes a sports court, private bar, nine Baccarat chandeliers that can transform the great room into a Miami-style lounge, Versace wallpaper, and custom stained glass elevator doors. Sellers David Coury and Zoila Maya emphasize the meticulous craftsmanship: “The level of attention to detail is unlike any other, down to the craftsmanship in the smallest elements,” Coury said. “When people walk onto the property, they say it’s magical, there’s nothing like it. They immediately feel the synergy throughout. It has a tranquil, private vibe that’s hard to find.”

The Big Picture

The luxury real estate market in the Florida Keys remains a magnet for ultra-wealthy buyers seeking privacy and exclusivity. This property represents the pinnacle of personalized resort living, with amenities that go far beyond the typical pool and ocean view. The custom-designed estate, built in 2023, reflects a broader trend of buyers seeking turnkey retreats with every conceivable amenity, eliminating the need to leave the property for entertainment or relaxation. The location between Miami and Key West offers the best of both worlds: access to vibrant city life and the serene beauty of the Keys. According to the sellers, the estate has hosted everything from lavish weddings to exclusive high-end events, but now focuses on private family stays. The attention to detail, from Versace wallpaper to custom stained glass elevator doors, sets this property apart in an already exclusive market.

Demand for luxury properties in the Keys has remained robust, driven by high-net-worth migration from high-tax states like New York and California, as well as international buyers from Latin America and Europe. In 2025, the median price for luxury properties in the Keys exceeded $5 million, with limited inventory keeping prices elevated. This property, with its custom upgrades totaling over $8.1 million, sits at the top end of the market, attracting buyers who value uniqueness and craftsmanship. The broader luxury market in Florida continues to benefit from favorable tax policies, including no state income tax, and a lifestyle that appeals to those seeking both privacy and access to world-class amenities. However, risks include potential changes in tax laws, the impact of hurricanes, and rising sea levels, which buyers must factor into their decision-making.

““When people walk onto the property, they say it’s magical, there’s nothing like it.” — David Coury, seller”

By the Numbers

• List Price: $24.99 million, reflecting the exclusivity and custom upgrades.
• Size: 10,182 square feet of living space, with 7 bedrooms accommodating up to 14 guests.
• Land: Nearly 2 oceanfront acres, with a private beach and 100-foot dock capable of accommodating large yachts.
• Upgrade Investment: Over $8.1 million spent by the owners on additional features and improvements, including nine Baccarat chandeliers, Versace wallpaper, and custom stained glass elevator doors.
• Year Built: 2023, meaning the property is relatively new and in pristine condition.
• Key Amenities: Baccarat ballroom, convertible sports court (basketball, tennis, pickleball), private bar, commercial-grade kitchen, and state-of-the-art sound and automation systems.

Why It Matters

This property is more than a home; it's a bellwether for where the luxury market is heading in 2026. As wealthy buyers increasingly seek privacy and personalized experiences, properties like The Chateau on the Ocean set a new standard. The inclusion of a Baccarat ballroom, convertible sports court, and private bar shows that luxury buyers no longer settle for a pool and a view—they want a full resort experience in their own backyard. This shift reflects a broader post-pandemic trend where the home has become a hub for entertainment and wellness, especially for those who can work remotely. The winners here are the current owners, who invested $8.1 million in upgrades and now look to capitalize on their vision. The losers could be bargain hunters, as properties like this rarely see significant price reductions. The Florida luxury market remains strong, driven by high-net-worth migration from other states and countries seeking tax advantages and lifestyle benefits. However, risks include potential changes in state or federal tax policies, as well as the impact of hurricanes and rising sea levels on coastal properties. Buyers should consider the property's resilience and insurance costs, which have risen significantly in recent years.

What This Means For You

For potential luxury buyers, this property offers a unique turnkey opportunity to own a personal resort. However, ongoing maintenance costs for a property of this caliber can be substantial. For investors, properties like this can generate significant income if rented for exclusive events or luxury stays, though the Keys' rental market is seasonal. Market analysis shows that similar properties in the Keys can generate rental yields of 4% to 6% annually, depending on occupancy and rates.

1. 1Assess total cost of ownership: Beyond the purchase price, consider property taxes (approximately 1.1% of assessed value in Monroe County), insurance (which can exceed $50,000 annually for properties of this value), maintenance (landscaping, cleaning, pool, dock), and staffing needed to operate such an estate (butler, chef, maintenance staff).
2. 2Consider rental potential: While current owners focus on private stays, the property has a history of hosting events. A new owner could continue that tradition to generate income, renting the property for weddings, corporate events, or luxury getaways. Rental rates for similar properties in the Keys range from $10,000 to $25,000 per night during peak season.
3. 3Verify exclusivity: Properties like this are rare. If you seek total privacy and a resort experience, this may be one of the few options on the market. Conduct thorough due diligence, including property inspections, permit verification, and environmental risk assessment.

What To Watch Next

The luxury market in the Florida Keys could see increased inventory as more owners look to sell ahead of potential tax law changes or economic shifts. Additionally, mortgage rates for luxury properties, which are often cash purchases, will remain a factor to watch. If rates drop, we could see a surge in demand for high-value properties. However, the cash market is less sensitive to rates, so the impact may be limited. Also important is monitoring migration trends of high-net-worth individuals to Florida. Any changes in state or federal tax policies could affect the state's appeal to luxury buyers. For instance, if a federal wealth tax is implemented, Florida could become even more attractive. Conversely, an increase in property taxes or changes in the state and local tax (SALT) deduction could dampen interest. Additionally, the impact of climate change on coastal properties is a growing factor; buyers should assess the property's elevation plans and flood insurance costs.

The Bottom Line

The Chateau on the Ocean is more than a house; it's a lifestyle statement. For the right buyer, it offers a unique opportunity to own a private resort in one of Florida's most coveted locations. However, the high price tag and associated costs mean only a handful of buyers will qualify. The luxury market remains resilient, and properties like this will likely find a buyer who values exclusivity over cost. In an environment where personalization and privacy are paramount, this property stands out as a beacon of what is possible when money is no object.