Sotheby’s Concierge Auctions: Bidding Opens at US$8.5 Million for Iconic Southernmost Key West Estate

Auction closes live online on 31 March in cooperation with Ellen Gvili of Ocean Sotheby’s International Realty

NEW YORK, NY, UNITED STATES, March 21, 2025 /EINPresswire.com/ -- Sotheby’s Concierge Auctions announced today that bidding has officially opened at US$8.5 million for an incredible oceanfront private residence, located at the continental U.S.’s most southern point. Listed for $18.5 million, the historic Key West property was formerly the winter home of renowned American artist John Seward Johnson II, the estate will be offered in cooperation with Ellen Gvili of Ocean Sotheby’s International Realty. Bidding for the property will culminate live on 31 March via the firm’s online marketplace, conciergeauctions.com.

Located at 400 South Street, the 4,008-square-foot concrete residence sits on a 17,243-square-foot lot with nearly an acre of bay bottom, offering 245 feet of open waterfront and sweeping Atlantic Ocean views. Outdoor features include expansive balconies, a 50-by-20-foot pool, and ample lounging areas amid lush tropical landscaping. With U.S. Army Corps of Engineers approval to rebuild a private dock, the home is ideal for boating enthusiasts.

Inside, the formal living room exudes classic Key West charm, leading to a bright Florida room with floor-to-ceiling sliding glass doors that open to the outdoors. The primary suite and two guest bedrooms—accessible by elevator—each open to a spacious balcony with uninterrupted ocean views. Sealed coral stone floors, elegant architectural details, and an open-concept layout complete the timeless design.

The property also carries a rich artistic legacy as the former home of John Seward Johnson II—grandson of Johnson & Johnson co-founder Robert Wood Johnson I and founder of New Jersey’s Grounds For Sculpture. Johnson was renowned for his life-size trompe-l'œil bronze sculptures capturing everyday moments, many of which are displayed in public spaces around the world.

"This property is one of Key West’s most iconic estates," said Gvili. "Its elegance is unmatched, from the sophisticated architectural details to the expansive oceanfront views. Situated at the southernmost point of the U.S. and once home to artist John Seward Johnson II, the house seamlessly blends timeless charm with history and luxury. It’s a rare opportunity—whether as a private sanctuary or a development opportunity, the estate offers great potential in one of the most coveted locations in the Keys."

In addition to its luxury features, the estate offers a valuable transient license for potential short-term rentals and multifamily zoning allowing up to eight residential units—enhancing its appeal to investors.

Ideally located near Key West’s top attractions, the property is just steps from the Southernmost Point buoy and Southernmost Beach, with its popular beachside restaurant. Key West blends historic charm and island luxury, with Conch-style homes, Victorian mansions, tropical gardens, and the vibrant streets of Old Town lined with galleries, shops, and dining.

Residents enjoy a relaxed yet refined lifestyle, with sailing, fishing, snorkeling, and diving minutes away. Iconic landmarks like the Ernest Hemingway House, Key West Lighthouse, and lively Duval Street are nearby, while the island’s sunsets and thriving arts scene complete the experience.

Images of the property can be viewed at conciergeauctions.com. All photo credits should be provided to Florence Nebbout.

As part of Sotheby’s Concierge Auctions' Key for Key^® giving program in partnership with Giveback Homes, the closing will result in funding towards new homes built for families in need.

Agents will be compensated according to the terms and conditions of the Listing Agreement. See Auction Terms and Conditions for full details.

For more information, including property details, diligence documents, and more, visit ConciergeAuctions.com or call +1.212.202.2940.

About Concierge Auctions
Concierge Auctions is the world’s largest luxury real estate auction marketplace, with a state-of-the-art digital marketing, property preview, and bidding platform. The firm matches sellers of one-of-a-kind homes with some of the most capable property connoisseurs on the planet. Sellers gain unmatched reach, speed, and certainty. Buyers receive curated opportunities. Agents earn their commission in 30 days. Acquired by Sotheby’s, the world’s premier destination for fine art and luxury goods, and Anywhere Real Estate, Inc (NYSE: HOUS), the largest full-service residential real estate services company in the United States, Concierge Auctions continues to operate independently, partnering with real estate agents affiliated with many of the industry's leading brokerages to host luxury auctions for clients. For Sotheby's International Realty listings and companies, Concierge Auctions provides Sotheby’s brand exclusivity as Sotheby's Concierge Auctions. Since inception in 2008, the firm has generated billions of dollars in sales, broken world records for the highest-priced homes ever sold at auction and sold properties in 46 U.S. states and 35 countries. The firm owns one of the most comprehensive and intelligent databases of high-net-worth real estate buyers and sellers in the industry, and it has committed to build more than 300 homes through its Key For Key^® giving program in partnership with Giveback Homes™, which funds new homes for families in need from every property the company sells. For more information, visit ConciergeAuctions.com.

Kari Hegarty
BerlinRosen
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