Private Island in Florida Keys on Market for $17 Million, but What About Hurricanes?

The Florida Keys can only be reached by land via a long ribbon of highway. They are subject to harsh hurricane winds which can destroy vast areas of property. However, they are still a draw largely because of their weather and remoteness. Enough of a draw so that one of the islands in on the market for $17 million.

The property–Terra’s Key has its own car bridge, which stretches 2,000 feet from Village of Islands, a small town in the Keys. It has its own address–79775 Overseas Hwy.

The island has several structures. The largest has five bedrooms four baths and covers 3,000, not nearly big enough to qualify as a mansion. The property also has a pool, dock, and tennis courts. The island is fairly large at 15.5 acres.

The challenge with the location is the weather. The Keys have been hit by scores of hurricanes since official records started to be kept in the mid-1600s. Among them are some of the strongest hurricanes which have ever made landfall in the U.S. One storm on Labor Day 1935 packed winds of over 185 MPH. Two hurricanes hit in 1948. Hurricane Donna in 1960 virtually destroyed all property on the islands. More recently, Hurricane Wilma hit the area in 2005. Its 185 MPH winds devastated much of the real estate.

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The most recent big hurricane in the area–Irma–hit the Keys on August 26, 2017. The official description of the storm was that it: “At 9:10 am EDT, Hurricane Irma made landfall in the Lower Keys near Cudjoe Key with maximum sustained winds near 130 mph, and a central pressure of 929 mb. Due to their proximity to the northeastern eye wall, Big Pine Key reported severe damage, and 160 mph wind gusts were estimated from storm surveys conducted by NWS Key West in the area.”

Irma was one of the most powerful hurricanes of all time.

Is $17 million worth the investment when the entire island could be submerged by a large hurricane? That depends, in part, on whether a new owner can provide the insurance, which could well run into six figures a year.

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