Miami’s real estate market continues to experience unprecedented growth in 2024. The city’s luxury living, waterfront views, and vibrant city life continue to attract investors, new residents, and global buyers. Miami Beach is one of the top 10 metros in Florida with the fastest growing sales prices, with an 18.4% growth. In the first and second quarters of 2024, more homes in the top end of the Miami housing market are expected to trade for over $10 million.
Amit Raizada, CEO of private equity firm Spectrum Business Ventures, Inc., quarterbacked and had the magnificent luxury home on the prestigious Venetian Islands built, that home is now part of Miami’s hot housing market. Designed by renowned Borges Architects and crafted by CDC Contractors, the one-of-a kind estate at 240 W Rivo Alto Drive is an architectural masterpiece where sophisticated and modern design, spacious living, and luxury meets coveted western sunset views.
Raizada, through Spectrum Business Ventures, Inc., has been involved in all aspects of the real estate industry for more than 25 years. He has helped design, build, and market homes in high-growth luxury markets not only in Miami, but across the United States, including multiple homes in Beverly Hills and Newport Beach, California, and dream hide-aways in Lake Toxaway, North Carolina. Raizada has also developed and sold several high-end homes abroad in places such as Lake Como, Italy and the Mexican retreats of Cabo San Lucas, Tulum, and Riveria Maya. Raizada has come to be known for his visionary approach to investment in and development of iconic turnkey properties.
The home at 240 W Rivo Alto Drive is a key example of Raizada’s vision. “South Florida is experiencing unprecedented demand for turnkey luxury properties, and this home delivers stunning aesthetics and unparalleled functionality with an ideal waterfront location,” said Amit Raizada. “From the use of natural materials to the seamless flow of the living spaces, every detail was meticulously curated to create an experience of effortless luxury.”
This spacious home, spanning 7,129 total gross square feet, provides abundant space for living, relaxation, and productivity. The home boasts five expansive bedrooms with their own in suite bathrooms, plus a versatile upstairs media den that can serve as a quiet office space or an additional bedroom. The master bedroom suite is a sanctuary, offering dual custom wardrobes, a spa-inspired bath with a soaking tub, and a private terrace overlooking the Downtown Miami skyline.
From the moment you enter the 22-foot tall entry gallery, with a stunning floating glass staircase, the home’s design ethos is clear: a commitment to light, space, and refinement. Floor-to-ceiling windows frame coveted waterfront views and usher in an abundance of natural light, while multiple waterfront lounges are seamlessly integrated with a 10-person dining setting. You will find impeccable craftsmanship and a timeless palette of travertine and white oak throughout, including the designer kitchen with water views, Wolf and Sub-Zero appliances, and a sleek integrated cooktop.
Raizada’s vision does not end at interior, however. Exterior presence and outdoor living space in one of the most scenic areas of Miami also take center stage. A breathtaking travertine cascading water feature greets you at the entrance to the home, hinting at what awaits you inside. The backyard is equally stunning and is designed for the ultimate outdoor entertaining experience. Complete with an infinity-edge pool with spa, a summer kitchen with covered dining and seating areas, lush landscaping for privacy and beauty, and 60-feet of South Florida water frontage, outdoor living at 240 W Rivo Alto Drive has new meaning.
This home stands apart not only for its high-end design, but also for its prime location—Rivo Alto Island is the only Venetian Island with sidewalks on its perimeter, the absence of visible power lines, and its close proximity to the Sunset Harbor dining and shopping hub.
Listed by Dina Goldentayer, the number one agent nationally for Douglas Elliman, 240 W Rivo Alto Drive is offered at $20,950,000.
