Gatsby-esque Davis Islands mansion for sale for $23.9 million

The largest waterfront residence on Davis Islands went up for sale on Tuesday for a whopping $23.9 million.

Why it matters: That's $1.4 million more than buyers gave in 2021 for Derek Jeter's mansion on Davis Islands — Tampa Bay's most expensive home — and would set a new benchmark in the local luxury home market.

Flashback: The high-end home market had a banner year in 2021, when new, wealthy buyers flocked here from other states.

• Following Jeter's record-breaking sale came a $16.7 million deal in Thonotosassa and a $16 million sale on Davis Islands.

Yes, but: Tampa Bay's luxury real estate market dipped in 2022, when the most expensive home sold for $15 million.

The big picture: The local lux market still looks like a steal compared to South Florida, where the 10 biggest sales in 2022 all topped $40 million, and the two largest were more than $100 million.

Details: The 1.45-acre estate property — which makes up three buildable lots — includes a 9,038-square-foot home originally designed in 1928.

• Per the Tampa Times in 1932, the French provincial home at 42 Ladoga Street was built at a cost of $12,000 — or roughly $258,276 today when adjusted for inflation.
• The house has seven bedrooms, seven full and two half baths, a gym, an entertainment wing, wine cellar and executive offices, plus a boathouse with two lifts.

Of note: With 464 feet of waterfront, the parcel is larger than Jeter’s old property. The new owner of Jeter's home plans to demolish it and rebuild.

What they're saying: "With the influx of out-of-state buyers flooding our market who are accustomed to price points well above what Tampa has produced, obtaining a significant piece of Tampa Bay's waterfront like this is nothing less than a rarified opportunity," Smith & Associates real estate agent Mary Beth Byrd told Axios in a statement.