By Michael Lee Simpson
A Venezuelan oil executive has put his $19.8 million L-shaped waterfront mansion on the market in exclusive Key Biscayne.
The home is owned by Alain J. Viergutz, a Venezuelan oil executive and former president of the Venezuelan Oil Chamber.
The nearly 8,000-square-foot residence, set along 270 feet of L-shaped frontage on the Pines Canal, offers rare privacy, protected boating access and views of Bill Baggs Cape Florida State Park.
It comes after the abduction of former President Nicolás Maduro by the United States on January 3 which led the White House to announce a $500bn energy agreement between the two countries, which reports say gives Washington significant influence over Venezuela’s oil industry.
Approved in its first reading on Thursday, the reform breaks principles set by former President Hugo Chavez in 2006, which reserved exclusive crude marketing rights for the state-owned oil company.
Viergutz’s home is designed to make the most of boating in the area and includes a concrete seawall, private boat lift, dockside kitchen and side-dock boat storage that allows multiple vessels to be accommodated without obstructing water views.
“The property’s unique location translates to more waterfront and more privacy,” said Lucia A. Marin of ONE Sotheby’s International Realty.
“The 270 feet of L-shaped water frontage means you only have one neighbor, and you can dock a very large boat, or multiple boats, without blocking the home’s water views.”
The home spans 7,996 adjusted square feet on a 16,500-square-foot lot and includes four bedrooms plus staff quarters, five full bathrooms and four half-baths.
Formal living and dining rooms are served by a chef’s kitchen, outfitted with Calacatta Gold marble countertops and a butler’s pantry.
Beyond the main living areas, the home includes a private fitness center with water views.
Additional amenities include a temperature-controlled wine cellar with capacity for more than 1,400 bottles, an elevator, retractable screen doors, a full generator and a heated saltwater pool.
Two garages offer space for seven or more cars or golf carts, reflecting the island’s distinct transportation culture.
Marin said interest in the property reflects broader trends in the Key Biscayne luxury market, where buyers are prioritizing waterfront access, privacy and homes that can serve as long-term family assets.
“We have seen strong interest from a diverse pool of buyers, including local residents looking to upgrade to waterfront homes, international buyers expanding their Miami real estate portfolios, and parents purchasing properties for their children,” Marin said.
“Much of the interest has centered on the home’s waterfront and the added value of its elevated design.”
The property’s location at the southern end of Key Biscayne places it adjacent to protected parkland rather than neighboring developments.
With limited inventory on the one-mile-long island and strict zoning constraints, opportunities to acquire homes with this level of frontage and privacy are rare.
“The Village of Key Biscayne is only one mile long, so everything is close by,” Marin said. “You can walk or take a golf cart anywhere.”
