A $27 million Miami paradise: Teakwood, climate-controlled design and Italian decor.

Creating a modern residence in today's market is a bold venture, especially at a $27 million price tag. But Italian developer Valerio Morabito (builder of 70 Green and 45 East 74th Street in New York City) is banking on Miami's international clientele and their passion for designer homes.

The villa offers an 83-foot pool and a long terrace overlooking the water. His latest project is a seven-bedroom, seven-bathroom, three-toilet contemporary family villa located on Miami Beach and designed by Michele Bonan and Max Strang. Bonan, a renowned Florentine interior architect, has revitalized places like Casa Tua, Cipriani Restaurant and The Ritz-Carlton Residences in Miami, while Strang, an AIA award winner, is known for his climate-driven design (developing flood control solutions for Miami's luxury waterfront villas).

The contemporary villa was originally designed for developer Valerio Morabito. The trio relies on a blend of Italian style and modern eco-friendly solutions that set a new standard for aquatic homes. The interiors were designed by Michele Bonan. The estate's former name, Canal House, has been replaced, but it still provides protection from low sea levels and possible flooding from climate change - like canals in Holland.

The house sits on a 30,000-square-foot lot with 151 feet of sea frontage and landscape architecture by Raymond Jungles. Spread across 12300 square feet of open space, 7400 square feet of terrace and 1140 square feet of roof, this villa offers a home theater, wine cave, gym, game room, two guest rooms, open kitchen, staff living quarters, spa and an 83-foot-long pool equipped with Biazazza tiles as well as cabana, long pool benches and palm trees.

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There's also a rooftop elevator and a four-car garage.

This modern home with an Italianate touch comes with more than a million dollars worth of smart furnishings, from vintage to modern. Teak floors, patios and blinds control and reflect light and shadow in the interior. A teak wood terrace covers the perimeter of the house and protects from summer showers. This terrace overlooks the waterfront and floats above an extended raised promenade (with lounge chairs and another water feature).

The luxurious home comes with more than a million dollars of ornate furnishings from Bonan. The interiors showcase Italian vintage with modern elements - including a 1960s Paul McCobb office sofa, a pair of 1950s Italian Gigi Radice armchairs and 1950s vintage wooden coffee tables.

The spacious master bedroom has high ceilings, an elegant marble wall with fireplace, a desk, sitting area and views from the terrace. The house has seven bedrooms, including a bedroom with a marble wall, fireplace, desk and terrace. Some of the home's furnishings include Finn Juhl's 'Spade' teak sofa (circa 1954), photo collage canvases by Canadian artist Christine Ralphs, 1950s ceramics and mid-century Italian, West German and Japanese objects.

The property is meticulously designed and built with a million details, for it was originally planned as a home for Morabito himself and his wife, Victoria's Secret supermodel Vita Sidorkina. Douglas Elliman's roster includes Mick Duchon and Eloi Carmenate.