From F1 Champion to Property Mogul: Eddie Irvine’s Latest $38M Miami Mansion Hits the Market

The Racing Legend’s New Chapter

Eddie Irvine, the Northern Irish former Formula One driver who competed under the British flag from 1993 to 2002 and finished as runner-up in the 1999 Formula One World Drivers’ Championship with Ferrari, has transformed himself into a successful property developer with an eye for luxury real estate.

Latest Luxury Development

The former Formula 1 star is currently selling a newly developed waterfront estate on Biscayne Island for $38 million. Irvine, who now works as a spec home developer, purchased the lot for $5.1 million in 2020.

The impressive property features a six-bedroom modern waterfront mansion, built in 2022, with 100 feet of waterfront and views of the bay and the Edgewater skyline. The estate comes complete with access to a private dock for yacht storage. The nearly 7,000-square-foot home includes six and a half bathrooms, a private theater, a covered cabana, a rooftop lounge area, and a primary suite with a private terrace.

Successful Track Record in Real Estate

Since quitting racing in 2002, Irvine has been developing high-end homes for the last two decades. His previous success includes the development and sale of another waterfront seven-bedroom home on Hibiscus Island for $27.75 million in 2019.

Current Business Empire

Irvine’s property portfolio extends beyond Miami, with properties in Dublin, Milan, Ibiza and the Caribbean, and he is developing a luxury complex on the Exuma islands in the Bahamas. While he maintains some building projects in Ireland, his passion lies in Miami, where he designs properties with his builder to create “amazing houses that sell for really good money.”

His business acumen has paid off handsomely, with his current wealth estimated in the $120 to $130 million USD range, supported by his extensive property portfolio and recent high-value listings.