$65 Million Marco Iacovelli House in Star Island, Miami Beach

Marco Iacovelli’s house is a stunning mansion located on the exclusive Star Island in Miami Beach. This luxurious property, once listed for a whopping $65 million, showcases the opulent lifestyle of the Rally Manufacturing founder. But there’s more to this story than just a hefty price tag.

Let’s dive into the details of this extraordinary home and its intriguing journey through the real estate market.

Who is Marco Iacovelli?

Marco Iacovelli is the founder of Rally Manufacturing, a Miami-based auto accessories company that’s made quite a name for itself. While he’s not a household name like some celebrities, Iacovelli’s success in the business world has allowed him to amass quite a fortune. His net worth isn’t publicly disclosed, but owning a $65 million mansion gives us a pretty good idea that he’s doing alright for himself.

Iacovelli’s lifestyle includes more than just his Star Island mansion. He’s got homes in the Bahamas and Canada too. And while we don’t have specifics on his car collection or if he owns a yacht or private jet, it’s safe to say that someone with a home of this caliber likely enjoys other luxuries as well.

Marco Iacovelli at a Glance

Where Does Marco Iacovelli Live Now?

Marco Iacovelli’s primary residence has been the stunning mansion at 46 Star Island Drive in Miami Beach, Florida. But here’s the twist – he’s been trying to sell this place since 2016. Why? Well, Iacovelli and his wife say they no longer need all that space and are spending more time at their homes in the Bahamas and Canada[1][2].

Star Island isn’t just any neighborhood. It’s an exclusive, man-made island in Biscayne Bay, connected to Miami Beach by a causeway. This tiny island, less than a square kilometer in size, is home to some of the most expensive real estate in Florida. It’s been a magnet for celebrities and business tycoons, offering privacy, luxury, and those million-dollar views of the Miami skyline.

Marco Iacovelli House: Overview

Now, let’s talk about the house itself. This isn’t just a house; it’s more like a small palace. Built in 1924 by Carl Fisher, the founder of the Indianapolis 500, this mansion has seen nearly a century of history and luxury[1].

The property spans a massive 18,400 square feet, sitting on a 1.4-acre lot. It’s got 10 bedrooms, which is more than enough for a small hotel, let alone a family home. But that’s just the beginning. This place has over 40 rooms in total[1][2].

1. Where Is Marco Iacovelli’s House Located?

Marco Iacovelli’s mansion is located at 46 Star Island Drive, Miami Beach, Florida. It’s right in the heart of Star Island, sandwiched between the homes of other notable residents. On one side, you’ve got the property of Lennar Corp. founder and CEO Stuart Miller. On the other, there’s the estate of Phillip and Patricia Frost[2].

The location is nothing short of spectacular. With 255 feet of frontage on Biscayne Bay, the views from this property are breathtaking. Imagine waking up every morning to the sight of sparkling water and the Miami skyline in the distance. It’s the kind of view that makes you feel like you’re on vacation every single day.

2. Features of Marco Iacovelli House

The Marco Iacovelli house is a perfect blend of historic charm and modern luxury. Built-in the early 1920s, it’s got that classic Miami architectural style that’s so sought after. But don’t think for a second that it’s stuck in the past. This place has been extensively renovated to bring it up to the standards of modern luxury living[2].

The house design is all about grandeur and space. With 18,400 square feet of living area, there’s room for pretty much everything you could imagine. The architectural style is reminiscent of the Mediterranean Revival that was popular in Florida in the 1920s, with its red-tiled roof and stucco exterior.

But it’s not just about looks. This house is designed for both comfort and entertainment. With over 40 rooms, including 10 bedrooms, there’s space for a large family and plenty of guests. The layout is perfect for hosting lavish parties or intimate gatherings, with numerous spaces both indoors and outdoors for socializing.

3. Is Marco Iacovelli House Listed for Sale?

Yes, the Marco Iacovelli house has been on and off the market since 2016. Initially listed for $65 million, it was one of the priciest homes for sale in Miami-Dade County at the time[2]. But selling a house of this caliber isn’t always easy, even in a hot real estate market.

In an interesting twist, the property was headed to the auction block in early 2018. Iacovelli decided to partner with Concierge Auctions to sell the property without a reserve. This move was seen as a way to “take control of the marketplace” rather than a distressed sale[1].

As of the most recent information available, the house was still seeking a buyer. The luxury real estate market can be unpredictable, and homes at this price point often take time to find the right buyer.

4. House Amenities

The Marco Iacovelli house is packed with amenities that cater to a luxury lifestyle. Here’s a list of some of the standout features:

• 3,000-bottle wine cellar
• Two private docks
• Boat lift
• Outdoor swimming pool
• Cabana
• Two separate staff living areas with living rooms and kitchens
• 255 feet of waterfront on Biscayne Bay

5. Neighborhood Area

Star Island is one of the most exclusive neighborhoods in Miami Beach. It’s a small, gated community that’s home to numerous celebrities and business tycoons. The island offers privacy and security, making it a haven for high-profile residents.

The neighborhood is known for its stunning waterfront mansions, each with its dock and incredible views of Biscayne Bay and the Miami skyline. Despite its exclusive nature, Star Island is conveniently located. It’s just a short drive from South Beach, downtown Miami, and the Miami International Airport.

Some of Star Island’s notable residents over the years have included Gloria and Emilio Estefan, Sean “Diddy” Combs, and Shaquille O’Neal. This gives you an idea of the caliber of neighbors you’d have if you lived in the Iacovelli mansion.

Market Value

It’s worth noting that Iacovelli purchased the property for about $1.83 million in 1987[1][2]. The jump to a $65 million listing price in 2016 shows just how much the property value has increased over the years, thanks to both the booming Miami real estate market and the extensive renovations done to the property.

Marco Iacovelli’s Real Estate Portfolio

While we don’t have comprehensive information about all of Iacovelli’s properties, we do know that he owns homes in multiple locations:

1. Star Island Mansion (46 Star Island Drive, Miami Beach, FL)
   • 18,400 square feet
   • 1.4-acre lot
   • Purchased in 1987 for $1.83 million
2. Home in the Bahamas (Exact location unknown)
   • Details not available
3. Home in Canada (Exact location unknown)
   • Details not available

Iacovelli has mentioned that he and his wife are spending more time at their homes in the Bahamas and Canada, which is part of the reason they decided to sell the Star Island property[1][2].

Conclusion

Marco Iacovelli’s house on Star Island is a testament to luxury living in Miami Beach. From its historic roots to its modern amenities, this mansion showcases the best of what high-end real estate has to offer. While it’s been on the market for several years, there’s no doubt that this property is a unique gem in the crown of Miami’s luxury real estate.

Whether it sells for its asking price or goes to auction, the next owner of 46 Star Island Drive will be getting more than just a house. They’ll be buying a piece of Miami’s history, a luxurious lifestyle, and one of the most enviable addresses in Florida. As for Marco Iacovelli, his story reminds us that sometimes, even when you own a $65 million mansion, there comes a time when you’re ready for a change of scenery.