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new 8,024-square-foot home on Allison Island has sold for $31.5 million, marking the largest property sale in the area's history. The buyer is financier Paul Casey and his wife Viktorija, according to documents obtained by Gimme Shelter. The sellers were developers Fred Karlton and his son Aaron.

    Allison Island, located off the coast of Miami, has become a popular destination for ultra-high-net-worth individuals priced out of Indian Creek island, which boasts residents like Jeff Bezos and Lauren Sánchez. The gated community features less than 50 dwellings, all situated on the water, with the center of the island landscaped.

    The spec house, located at 6494 Allison Road, boasts six bedrooms, eight-and-a-half bathrooms, a chef's kitchen, gym with sauna and steam rooms, rooftop terrace, pool, outdoor kitchen, and two-car garage with lifts. It also features a private dock and boat lift, providing ample space for water activities.

    Past and present residents of Allison Island include LVMH veteran Michael Burke, rapper Future, Shakira, and Sylvester Stallone. The island's exclusivity and natural beauty have made it an attractive option for those seeking a luxurious lifestyle in Miami.