Most Florida Keys homes force buyers to choose.
Big water views or protected dockage. Privacy or convenience. New construction or future upside.
This Tavernier compound somehow checks nearly every box at once.
Listed for $40 million by Angel Nicolas and Courtney Conley of SERHANT., the dual-parcel property on Millionaire’s Row combines a newly constructed waterfront estate with a second multi-acre parcel that already includes another renovated home — plus the ability to build even bigger down the road.
And in the Florida Keys, where land is limited and waterfront is everything, that combination is almost absurdly rare.
Two separate parcels stretching across multiple waterfront acres
The property spans two neighboring parcels at 88835 and 88845 Old Highway, creating a setup that feels more like a private resort compound than a traditional residence.
Together, the land stretches across multiple acres with 480 feet of waterfront — a number that’s hard to overstate in the Upper Keys.
A newly built 8,200-square-foot main residence anchors the property
The centerpiece is the newly constructed main house at 88845 Old Highway.
Spanning roughly 8,200 square feet, the residence was designed as a private retreat first and foremost, the kind of place built equally for long weekends, full-time living, and large gatherings that spill outdoors by sunset.
White diamond marble and teak floors set the tone inside
Inside, the materials lean warm and coastal rather than flashy.
White diamond marble runs through major spaces alongside teak flooring and custom millwork, creating a clean, relaxed atmosphere.
The kitchen was designed for people who actually entertain
The kitchen goes well beyond “nice appliances.”
Wolf, Sub-Zero, and Cove appliances are paired with dual dishwashers, farmhouse sinks, refrigerated drawers, wine storage, and thick mahogany counters that add warmth against the lighter finishes elsewhere.
It’s clearly built for heavy use and not just staged dinners and listing photos.
A 120-foot pool turns the backyard into a private resort
The outdoor setup is anchored by a massive 120-foot resort-style pool that stretches across the rear terrace.
Integrated heating and chilling systems keep the water usable year-round, while the smart controls handle everything behind the scenes.
The scale makes it feel more boutique hotel than private residence.
Covered terraces and a full outdoor kitchen keep everything outside
Like most great Keys houses, a huge part of the living experience happens outdoors.
Covered terraces wrap around the home, connecting lounge areas, dining spaces, and the summer kitchen into one long entertaining zone facing the water.
The protected basin is a dream setup for serious boaters
For boating, this property is on another level.
The protected basin includes 90 feet of dockage with room to expand, a 20,000-pound lift, a boat ramp, and direct deep-water access.
That combination is one of the biggest selling points of the entire compound (especially in this stretch of the Keys).
The second parcel adds another house — and major future upside
The neighboring parcel at 88835 Old Highway adds even more flexibility.
There’s already a renovated three-bedroom home on-site, completed in 2022, making the setup ideal for extended family, guests, or staff.
But the real wildcard is what could happen next.
A transferable development right could allow something much bigger
Included with the second parcel is a transferable TDR (Transferable Development Right), allowing for the construction of a significantly larger primary residence in the future.
In a market where development restrictions shape almost every waterfront deal, that kind of flexibility carries serious weight.
A natural hammock buffer keeps the property feeling hidden away
One of the more underrated features is the natural hammock buffer surrounding parts of the property.
The dense tropical landscaping softens the scale of the compound and adds a level of privacy that’s increasingly difficult to find in the Keys.
The house quietly hides a serious amount of infrastructure
Beyond the visible luxury features, the home packs in a substantial amount of behind-the-scenes infrastructure.
There’s a control room, elevator, full-home audio system, climate-controlled workshop space, and advanced smart-home systems integrated throughout the estate.
Millionaire’s Row remains one of the Keys’ most tightly held stretches
The property sits along one of the most desirable residential stretches in Tavernier, where large waterfront compounds rarely trade publicly.
Between the boating access, land size, and development restrictions across the Keys, opportunities like this tend to stay tightly held for years.
A Florida Keys property that manages to feel both massive and relaxed
At $40 million, the compound lands squarely in trophy-property territory.
But unlike some ultra-luxury waterfront estates that feel overly formal, this one still carries the laid-back atmosphere that makes the Florida Keys different in the first place.
Yes, it’s enormous. Yes, it has every amenity imaginable.
But at the end of the day, it still feels built around the simple idea of being near the water (and spending as much time outside as possible).
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