A newly completed Miami Beach mansion, custom-built by Joel Weinshanker, a managing partner of Elvis Presley Enterprises, just hit the market for a staggering $49.5 million, according to Robb Report. While general real estate markets show signs of cooling, Miami Beach's ultra-luxury segment defies this trend, with properties like Weinshanker's listed at near-record prices. Exceptionally strong demand for bespoke, high-end properties in prime locations sustains high valuations in this exclusive niche.
Inside the $49.5 Million Waterfront Estate
- The 8,300-square-foot home features seven bedrooms, six full baths, and two powder rooms, according to Robb Report.
- The property includes 90 feet of waterfront and a rooftop deck with bay views.
These expansive dimensions and prime waterfront access command the property's significant market valuation, attracting an exclusive clientele.
Designed for Grand-Scale Entertaining
Designed for lavish events, the home features a custom stone bar with a built-in aquarium and a covered outdoor kitchen, as reported by Robb Report. A pool terrace further enhances its entertainment capabilities, complete with a covered outdoor kitchen, barbecue, and dining area. These bespoke amenities fulfill the lifestyle expectations of ultra-luxury buyers, offering a turnkey solution for grand social gatherings.
Miami's Enduring Luxury Boom
The $49.5 million listing for this custom-built Miami Beach residence confirms the ultra-luxury segment's active appreciation, driven by demand for unique, high-end amenities beyond standard luxury offerings. Such exclusive, amenity-rich properties in Miami Beach often remain insulated from wider economic fluctuations.
What This Means for the Market
The Weinshanker mansion's listing suggests that Miami Beach's ultra-luxury market will likely continue to prioritize bespoke design and exclusive lifestyle features, maintaining its resilience against broader economic shifts.
