The CEO of the luxurious, iconic fashion brand Louis Vuitton, purchased an Allison Island home for $11.7 million.
The new buyer, Michael Burke, purchased the one-acre Miami Beach home and has plans to demolish it. The property has a private dock, guesthouse, tennis court and 200 feet of waterfront. The house was originally listed for $13 million.
The sale is considered the most expensive on the island.