$4,250,000
231 E Shore Drive Unit 2
Summerland Key, FL 33040
The Seven Palms - A Key West Oasis
Explore the area: Monroe County real estate
Price Check
How this price compares
- List price
- $4,250,000
- Price per sq ft
- $1,036
- Original price
- $40,000,000
- Days on market
- 413
This 5-bedroom single-family home is listed at $4,250,000, or $1,036 per square foot. The asking price has come down 89.4% from its original $40,000,000. It has been on the market for 413 days.
Estimated monthly payment
$22,336 /mo
Principal and interest only, based on $850,000 down (20%), a 6.875% 30-year fixed rate. Property taxes, homeowners insurance, and the $1,391/mo HOA are not included.
Customize this estimateListing Snapshot
- Price
- $4,250,000
- Days on Site
- 413 Days
- Bedrooms
- 5
- Total Baths
- 6
- Full Baths
- 5
- Partial Baths
- 1
- Living Area
- 4,103 sqft
- Total Sq Ft
- 6,514 sqft
- Lot Size
- 3.34 Acres
- Year Built
- 2025
- Property Type
- Single Family
- MLS #
- R11113452
- Property Tax
- $19,000 (2024)
- HOA Fees
- $1,391 / Monthly
- Subdivision
- The Seven Palms - A Key West Oasis
- Development
- The Seven Palms - A Key West Oasis
- County
- Monroe
- Status
- Active
About This Property
Welcome home to an exceptional new-construction residence in a private, gated community offering resort-style amenities, a boat slip and nightly rental opportunities. Conveniently located next to Summerland Key Airport, this fully upgraded home features a private elevator, a stunning infinity pool overlooking the water and an expansive rooftop deck perfect for enjoying breathtaking Florida Keys sunsets. Only have two homes remaining.
Virtual TourGeneral Features
- Property Type
- Single Family
- Status
- Active
- Year Built
- 2025
- Property Condition
- New Construction
- New Construction
- Yes
- Number of Stories
- 2
- Levels
- Two
- Parking
- Attached Carport / Covered / Carport
- Direction Faces
- East
- Lot Size (Acres)
- 3.34
- Living Sq Ft
- 4,103
- Total Sq Ft
- 6,514
- Structure Type
- House
- Sewer
- Public Sewer
- Water Source
- Public
- Zoning
- SR
Interior Features
- Appliances
- Dryer / Dishwasher / Disposal / Microwave / Refrigerator / Washer
- Cooling
- Central Air / Ceiling Fans
- Heating
- Central / Natural Gas / Other
- Flooring
- Other / Wood
- Interior Features
- Built In Features / Dual Sinks / Entrance Foyer / Elevator / Pantry / Tub Shower / Upper Level Primary / Walk In Closets
- Laundry
- Inside / Laundry Closet
- Main Level Bedrooms
- 1
- Main Level Baths
- 1
- Furnished
- Unfurnished
Exterior Features
- Construction
- Block
- Roof
- Metal
- Exterior Features
- Balcony / Outdoor Living Area
- Architectural Style
- Other
- Private Pool
- Yes
- Pool Features
- In Ground
- Patio & Porch
- Deck / Open / Porch / Balcony
- Waterfront
- Yes
- Waterfront Features
- Ocean Access
- View
- Ocean
Community & HOA
- HOA Fee
- $1,391 / Monthly
- Association Amenities
- Bike Storage / Boating / Elevators / Pickleball
- Community Features
- Home Owners Association / Boat Facilities / Gated / Street Lights
- Security
- Gated Community / Smoke Detectors
- Utilities
- Sewer Available / Water Available
- Pets Allowed
- No Pet Restrictions / Yes
- Financing Terms
- Cash / Conventional
- Restrictions
- No Restrictions / Ok To Lease
- MLS Area
- 5940 - Other Florida County
Schools
- Elementary School
- Sugarloaf
- Middle School
- Sugarloaf
- High School
- Key West
About the Area
- Homes for Sale
- 14
- Median List Price
- $1,075,000
- Median $/Sq Ft
- $863
- Avg Days on Market
- 96
Frequently Asked Questions
- How do I schedule a tour of 231 E Shore Drive Unit 2, Summerland Key, FL 33040?
- Use the Tour button on this listing to request a showing of 231 E Shore Drive Unit 2, Summerland Key, FL 33040. Pick a day and time and choose an in-person or video-chat tour, and a Pure Equity agent will confirm your visit, often the same day.
- Is 231 E Shore Drive Unit 2, Summerland Key, FL 33040 still available?
- 231 E Shore Drive Unit 2, Summerland Key, FL 33040 is currently listed as Active, and has been on the market 413 days. Status updates directly from the MLS as homes go under contract, so ask us to confirm availability before you plan a visit.
- How much is the monthly payment for 231 E Shore Drive Unit 2, Summerland Key, FL 33040?
- With 20% down ($850,000) on the $4,250,000 list price and a 30-year fixed loan at an illustrative 6.875% rate, the estimated principal & interest for 231 E Shore Drive Unit 2, Summerland Key, FL 33040 is about $22,336/mo, before property taxes, insurance, and HOA dues. Use the payment estimate on this page to adjust the down payment and rate.
- How do I get pre-approved to buy 231 E Shore Drive Unit 2, Summerland Key, FL 33040?
- Getting pre-approved shows sellers you're a serious buyer and clarifies your true budget before you offer on 231 E Shore Drive Unit 2, Summerland Key, FL 33040. Contact Pure Equity and we'll connect you with a trusted local lender to review your financing options, no obligation.
- Does 231 E Shore Drive Unit 2, Summerland Key, FL 33040 have an HOA fee?
- Yes: 231 E Shore Drive Unit 2, Summerland Key, FL 33040 carries an HOA fee of about $1,391 monthly. HOA dues usually cover community amenities and shared maintenance; ask us for the current budget, rules, and exactly what's included.
- What schools serve 231 E Shore Drive Unit 2, Summerland Key, FL 33040?
- 231 E Shore Drive Unit 2, Summerland Key, FL 33040 is zoned for Sugarloaf (elementary), Sugarloaf (middle), Key West (high). School assignments and boundaries can change year to year, so confirm current zoning with the local school district before you buy.
- Can I negotiate the price of 231 E Shore Drive Unit 2, Summerland Key, FL 33040?
- Often, yes. The right offer on 231 E Shore Drive Unit 2, Summerland Key, FL 33040 depends on how it's priced against comparable single family sales in Summerland Key, how long it's been listed, and how motivated the seller is. Pure Equity will run the comps and help you craft a competitive, well-supported offer.
Listing courtesy of Serhant
Listing information is provided by BeachesMLS, Inc.and is deemed reliable but not guaranteed accurate by the MLS or Pure Equity. Information is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. © 2026 BeachesMLS, Inc. Last updated June 25, 2026.
$4,250,000
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Listed by Stephanie Muzzillo, Serhant
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