A two-story Miami Beach home built and owned by former Formula 1 racer Edmund “Eddie” Irvine has hit the market, priced at $29.5 million. Julian Johnston of Calibre International Realty in Miami Beach has the listing.

Known as Casa Ischia, the 10,448-square-foot home at 428 S. Hibiscus Drive was designed by Miami-based architects Choeff Levy Fischman and is the epitome of Tropical Modernism style. Its location on Hibiscus Island takes advantage of the sweeping waterfront views and creates a resort-style ambiance. Expansive sliding glass doors along the entire rear of the property allow for unobstructed southwest views.

“It’s a spectacular build and very high quality, but that southwest view is the most sought-after view in the whole of Miami Beach for housing,” said Johnston, Calibre’s broker/owner. “It has a downtown view at night, with all the buildings lit up, and you see all the sunsets.”

Completed in 2017, the house features seven bedrooms, seven full and one-half bathrooms, a chef’s kitchen, butler’s pantry, bar, movie theater, wine cellar, elevator and a 783-square-foot rooftop terrace. Outside, there’s a koi pond, pool, two spas, two outdoor kitchens, outdoor showers and a beach area with fire pit.

The house sits on an 18,385-square-foot, pie-shaped lot, with 140 feet of waterfront, and boasts a dock big enough to accommodate a 130-foot yacht. Both the house and island are gated for privacy and security.

The architects made use of materials such as Ipe wood and South American stone to warm up the modern architecture. Many of Casa Ischia’s interior walls are constructed of limestone, adding a warm design element and unique texture to the home.

“We designed this residence based on mid-century modern elements, like the sunken outdoor living area adjacent to the swimming pool, and combined materials that would create a warm and inviting aesthetic,” said architect Ralph Choeff. “Open-space planning and the use of large vast opening sliding-glass doors were vital in order to connect all functions and accentuate the views of Biscayne Bay and downtown Miami.”

The British Irvine used to race Formula 1 cars around the world. Today, he is also a real estate developer and builder, Johnston said.

“He built a house in Miami in 2001 — the first time he built a house here — and since then, he’s had a passion for waterfront homes,” Johnston said. “He basically builds one house every two years in Miami Beach. He loves the town.”

Public records disclose that Irvine purchased the lot in August 2012 for $5.195 million under the name Casa Ischia LLC. According to the Florida Department of State, Edmund Irvine is the managing member of that limited liability company.