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231 E Shore Drive, Key West, FL 33040

$32,000,000
Property Type: Residential Bedrooms: 5 Baths: 5.1 Square Footage: 6,514 Status: Active
Current Price: $32,000,000 Last Modified: 12/01/2025

Description

Introducing Seven Palms Cove, a rare new construction oceanfront community in the Florida Keys that combines luxury living with unmatched investment potential. With only seven residences available—each spanning over 4,000 sq. ft. with 5 bedrooms, 5.5 baths, private infinity pools, rooftop decks, and assigned dockage—this gated enclave offers turn-key short-term rental flexibility. Unlike most communities in the Keys, there are no rental restrictions, making it possible to operate each home as a high-yield Airbnb or combine all seven into a boutique hospitality portfolio complete with shared resort-style amenities: a private boat basin, sport courts, pickleball, hammocks, and paddleboard launches.

Supplements: For the investor, the opportunity doesn't end there. Just across the street lies an additional 8-acre ROGO-exempt parcel, with approximately 5 acres of usable land and three existing income-producing cottages generating projected revenues of $300,000 annually. This parcel provides immediate returns while offering endless expansion optionswhether adding more cottages, building a yoga retreat, event venue, or further short-term rental inventory. With the ability to control all seven luxury homes plus the adjacent parcel, an investor could curate an exclusive, resort-style Airbnb village or private hotel collection in one of the most desirable boating and vacation destinations in the U.S. The combination of brand-new construction, no rental limitations, resort amenities, and future development land presents a one-of-a-kind portfolio play with both short-term income and long-term appreciation upside.

More Information MLS# RX-11130582

Contract Information

Auction: No List Price/SqFt: 4912.49 Negotiable Seller Concessions YN: No Listing Date: 2025-10-08 Status: Active Original List Price: 32000000 List Price: $32,000,000 Current Price: $32,000,000

General Property Description

Governing Bodies: HOA Main Level Bedrooms: 1 Main Level Bathrooms: 1 Property Condition: New Construction Community Development District: No SqFt - Total: 6514 Waterfront: Yes SqFt Source: Floor Plan Waterfrontage: 120 Guest House: No Gated Community: Yes Covered Spaces: 2 Development Name: The Seven Palms - A Key West Oasis Homeowners Assoc: Mandatory Pets Allowed: Yes Pets on Premises: No Front Exp: East HOA/POA/COA (Monthly): 1100 Year Roof Installed: 2025 Application Fee: 200 Association Deposit: No Directions: Turn Oceanside onto E Shore Dr (SR-942) at Mile Marker 25. The destination is ahead on the left. Membership Fee Required: No Ttl Units in Complex: 7 Capital Contribution: No Private Pool: Yes Type: Single Family Detached Total Bedrooms: 5 Baths - Full: 5 Baths - Half: 1 Baths - Total: 5.1 Year Built: 2025 SqFt - Living: 6514 Subdivision: SUMMERLAND ESTATES Legal Desc: LT 17 SUMMERLAND ESTATES SUMMERLAND KEY PB2-167 OR365-904 OR367-388 OR774-400 OR774-1530 OR2018-597 OR2071-1193 OR2071-1 Lot SqFt: 145700 Total Floors/Stories: 2

Location, Tax & Legal

Geo Area: Other Geographic Area Country: United States State/Province: FL HOPA: No Hopa Short Sale: No Tax Year: 2024 Zoning: SR Short Sale A/U: N/A Short Sale Addendum: No Taxes: 19902.3 Special Assessment: No REO: No Area: 5940 County: Monroe Parcel ID: 00200610000000 Street #: 231 Street Dir: E Street Name: Shore Street Suffix: Drive Zip Code: 33040 Geo Lat: 24.657702 Geo Lon: -81.43772

Office/Member Info

DXORIGMLNO: RX-11130582 DXORIGMLSID: RML

Lease Info

Min Days to Lease: 1 Lease Times p/Year: 365

Design

Other Arch: 1

Construction

CBS: 1

Master Bedroom/Bath

Dual Sinks: 1 Mstr Bdrm - Upstairs: 1 Spa Tub & Shower: 1

View

Ocean: 1

Rooms

Laundry-Inside: 1 Laundry-Util/Closet: 1

Waterfront Details

Ocean Access: 1

Lot Description

2 to < 3 Acres: 1 4 to < 5 Acres: 1

Equip/Appl Included

Dishwasher: 1 Disposal: 1 Dryer: 1 Microwave: 1 Refrigerator: 1 Smoke Detector: 1 Washer: 1

Private Pool Description

Inground: 1 Pool Size (W x L): 8'12

Cooling

Ceiling Fan: 1 Central: 1

Heating

Central: 1 Central Building: 1 Gas: 1 Other: 1

Exterior Features

Deck: 1 Open Balcony: 1 Open Porch: 1

Furnished

Furniture Negotiable: 1 Unfurnished: 1

Interior Features

Built-in Shelves: 1 Elevator: 1 Foyer: 1 Pantry: 1 Walk-in Closet: 1

Flooring

Tile: 1 Wood Floor: 1 Other: 1

Utilities

Public Sewer: 1 Public Water: 1

Parking

Carport - Attached: 1 Covered: 1 Driveway: 1

Pet Restrictions

No Restrictions: 1

Restrict

Lease OK: 1

Roof

Metal: 1

Subdiv. Amenities

Bike Storage: 1 Boating: 1 Elevator: 1 Pickleball: 1 Street Lights: 1

Terms Considered

Cash: 1 Conventional: 1

Storm Protection

Impact Glass: Complete

Taxes

City/County: 1

Property Features

Design: Other Arch Construction: CBS View: Ocean Waterfront Details: Ocean Access Private Pool Description: Inground Lot Description: 2 to < 3 Acres; 4 to < 5 Acres Exterior Features: Deck; Open Balcony; Open Porch Interior Features: Built-in Shelves; Elevator; Foyer; Pantry; Walk-in Closet Furnished: Furniture Negotiable; Unfurnished Rooms: Laundry-Inside; Laundry-Util/Closet Parking: Carport - Attached; Covered; Driveway Pet Restrictions: No Restrictions Restrict: Lease OK Flooring: Tile; Wood Floor; Other Heating: Central; Central Building; Gas; Other Cooling: Ceiling Fan; Central Roof: Metal Terms Considered: Cash; Conventional Utilities: Public Sewer; Public Water Taxes: City/County

Room Information

Living Room Length: 19.00 Width: 19.00 Length: 19.00 Level: Lower Width: 19.00 Kitchen Length: 15.00 Width: 14.00 Length: 15.00 Level: Lower Width: 14.00 Master Bedroom Length: 16.00 Width: 16.00 Length: 16.00 Level: Second Width: 16.00
Listing Office: Serhant
IDX
Last Updated: December - 01 - 2025
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