This majestic waterfront property sits on over half an acre of prime Miami Beach real estate. The 24,274 Square Foot lot featuring a grand entrance with manicured landscaping and 128 lineal feet of water frontage is situated just south of the proposed Ri tz Carlton Residences. The existing house has lots of architectural charm and is partially renovated. Either complete the renovation of the existing home or build your dream house on this lot. Also consider splitting lot and selling the extra land.