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$55 million spec house on exclusive Fisher Island, off the coast of Miami, is now on the market. The eight-bedroom mansion, dubbed the Mega Mansion, was built by French billionaire Jean Madar and his brother Alain as part of a six-property development on the island.

    The 15,802-square-foot waterfront home features 10 bathrooms, two powder rooms, and a chef's kitchen with a butler's pantry. It boasts 12-foot-high ceilings, white oak floors, and a wine cellar. The rooftop has been transformed into a wellness area with a gym, hot tub, sauna, steam shower, meditation garden, and outdoor dining space.

    The Mega Mansion is part of the Links Estates at Fisher Island, a development that includes around 12 new lots coming to market. The island, which was once popular with an older crowd, has seen a shift in demographics, with younger people in their 30s and 40s making it their primary residence.

    Douglas Elliman's Dina Goldentayer, who is co-listing the home with Fredrik Eklund, notes that the demand for expansive estates on the island is high due to its growing population of young families. The Mega Mansion offers plenty of space for a family, including an outdoor terrace with a summer kitchen and covered dining.

    The exclusive island features a private school, golf club, beach club, 18 tennis courts, and a deep-water marina. Past and present residents include Oprah Winfrey, Karolína Kurková, and Caroline Wozniacki. The Madar brothers' real estate holdings date back to 1958 and have expanded internationally, with properties in Paris, St. Barts, Ibiza, Monaco, and now Florida.

    The Mega Mansion is scheduled for completion next year and can be customized by the buyer. With its stunning views of Biscayne Bay and the Miami skyline, this luxurious home is a rare opportunity to own a piece of paradise on Fisher Island.