Former F1 Driver Eddie Irvine’s Miami Mansion Hits Market for $38M

Former Formula 1 driver Eddie Irvine is selling a newly developed waterfront estate on Biscayne Island for a whopping $38 million.

The retired motorsports driver, who now works as a spec home developer, purchased the lot at 1061 N Venetian Dr. for $5.1 million in 2020. The six-bedroom modern waterfront mansion, built in 2022, offers 100 feet of waterfront along with views of the bay and the Edgewater skyline. Of course, there's also access to a private dock to store your yacht.

Designed by architect Max Strang, the nearly 7,000-square-foot home includes six and a half bathrooms, a private theater, a covered cabana, a rooftop lounge area, and a primary suite with a private terrace.

"This residence is a stunning fusion of architectural brilliance and waterfront living at its finest," the listing reads.

If you cannot afford the $38 million price tag, don't worry. The mansion is also available for rent at $160,000 monthly.  Before becoming a spec home developer, Irvine competed in Formula 1 from 1993 to 2002, winning four Grand Prix across the ten seasons. He raced for the Jordan, Ferrari, and Jaguar race teams. While driving for Ferrari, Irvine finished as the runner-up in the 1999 Formula 1 World Championship.
Since turning to spec home development, he has made a splash in the Miami real estate scene. He developed the Casa Ischia mansion on Hibiscus Island off Miami Beach. He bought the lot for $5.2 million in 2012 and listed the property before builders had even finished the project. When the property was finally completed, an undisclosed buyer snatched it up for $27.75 million in 2019 (after Drake and Jay-Z each took respective vacations there, of course).

Casa Ischia was back on the market for a hot second (or two months, for anyone truly curious) last year before the listing came down. At one point, it was the most expensive newly listed house in the U.S., at around $70 million.

Kristi Bachan of LoKation Real Estate is the listing agent for Irvine's latest creation and the exclusive agent for Irvine's development portfolio, Pretani 1.