Is rocker Lenny Kravitz going to ‘Fly Away,’ like the title of one of his hit songs, from Grammy Award winning album 5, suggests? Today, Kravitz listed his Miami Beach home located at 7936 Biscayne Point Circle for $2.85M. He purchased the property in 1997 for $725k.

Located on the tip of Biscayne Point, the peninsula just north of Normandy Island, Kravitz’s residence offers unobstructed views of Biscayne Bay, not to mention spectacular sunsets. Biscayne Point is a guard gated community located in the northern part of Miami Beach.

Property Highlights

• Lot Size: 12,150 SF
• Living Area: 5,717 SF
• Built in 1954

Not his first picnic in Miami Beach residential real estate, Kravitz sold his Sunset Island 2 home, 1800 W 25 Street, when the market was soaring in 2005 to developer Steve Muss for $14.5M. Kravitz purchased the property in 2001 for $8.9M.

Further adding his mark to South Florida, he launched a new business, Kravitz Design.  Maybe you have seen his work,  he is the creative behind the Delano Hotel’s ultra chic lounge, The Florida Room, which opened in December 2007. True to the music industry, Kravitz fused his new venture with his staple by designing a recording studio in the luxurious Miami Beach condo-hotel, Setai, that opened in 2008. A two-story penthouse, Setai Recording Studio (as it is know in the music world) offers 2,500 SF with state of the art equipment and inspiring views of the Atlantic Ocean.

At the 2005 MTV Music Awards, Kravitz proudly called Miami home, let’s hope he continues to spread more of his luster over our beautiful city.

1736 W 28 STREET, SUNSET ISLAND 1, MIAMI BEACH, FLORIDA 33140

Last weekend, the residence located on Sunset Island 1, at 1736 W 28 Street, was listed for $29,900,750. Seller, George Lindemann, Jr., purchased it in 2000 for $8.425M. Located in one of Miami Beach’s exclusive guard gated neighborhoods, this particular property occupies three point lots on the south western tip of  the island, offering panoramic views of Biscayne Bay, the Intracoastal Waterway and Downtown Miami. Built in 1936, the classic structure was designed by renowned twentieth century architect, Maurice Fatio.

Property Highlights

• Lot Size: 70,886 SF
• Living Area: 11,388 SF
• 5 bed,  5 bath , 2 half bath

I cannot help but compare this new listing to the sale of vacant land located at 2500 Bay Avenue on Sunset Island 2, which closed for $22M in October 2008.  This transaction was the second highest residential sale on Miami Beach. Not surprising, the property location is the ultimate, occupying 83,852 SF on the western tip of Sunset Island 2.

In case you are wondering,  the highest residential sale on Miami Beach was recorded in 2006  for the property located on Star Island at 10, 11 and 12 Star Island Drive. Lennar CEO and Director, Stuart Miller, purchased the property for $27M. Other residents of Star Island include Sean ‘Diddy’ Combs, Gloria and Emilio Estefan and Shaquille O’Neal.

Is another record sale in the cards?

Reduced to $7.495M on September 28, 2009

1374A South Venetian Way, Miami Skyline, Miami, Fl

So you went to the International Miami Boat Show and Strictly Sail Miami, and conundrum, you need somewhere to dock your new vessel?

I just reduced this HOT Venetian Islands contemporary home by a million dollars; it is now listed for $7.9M. Yes, South Florida’s luxury real estate market is on the move. Built in 2006, this waterfront property offers stunning views of the Miami skyline andBiscayne Bay.

1374A South Venetian Way, Entrance, Miami, FL

The light filled interior boasts soaring ceilings, gourmet kitchen with blue Bahia Brazilian granite counter tops + Viking appliances, lavish master suite with private terrace, media room, elevator, smart house system and more. Sexy rooftop terrace stacked with summer kitchen and panoramic views is perfect for BBQ’s and stargazing. Other perks include 3-car garage, full house generator and boat dock.