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FL - Private islands still exist in Florida, and they’re attracting the mega rich amid a booming real estate market

A thin strip of asphalt reaches out into the Atlantic Ocean south of Islamorada, and leads to an idyllic looking private island.

Patti Stanley, a Coldwell Banker Schmitt real estate agent, is one of the few who’ve ever set foot there. She represented the former owner, who sold the nearly 16-acre lot for $10 million in December.

Amid a pandemic-fueled real estate boom in South Florida, real estate agents who’ve tapped into the niche private island and investment property market say they’re seeing unprecedented action.

“I’ve sold more real estate in the last year than I’ve ever done in my life,” she said, “and I’m 67 years old. I’ve been in the business for quite a while.”

Stanley focuses on properties near the upper Florida Keys, which she said have become a hotbed for investment properties. But at least 21 private islands across Florida are listed for sale on privateislandsonline.com, ranging from $1.1 million to $95 million.

She noted housing uncertainty caused by the pandemic as a factor in competition for the finite land of the Keys. “It’s just been the perfect storm so to speak,” Stanley said.

Here is a look at three islands currently or soon to be up for grabs, and what the properties offer the uber-wealthy.

Pumpkin Key, Key Largo

A 5,000-square-foot mansion sits amid 26 tropical acres on the bay side of northern Key Largo. The $95 million island is reachable only by boat, and is a short ride from the Ocean Reef Club, an exclusive marina club in Key Largo equipped with its own grocery store, veterinarian center, medical center and school.

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