Lampert's $40 Million Fla. Mansion Miami's Priciest

Mar 2 2012 | 5:14am ET

When ESL Investments chief Edward Lampert finds his dream home, it doesn't matter that it's not on sale.

Lampert is buying a 17,000-square-foot mansion on an exclusive island in Florida's Biscayne Bay for almost $40 million, The Wall Street Journal reports. According to records, the home was not on the market prior to Lampert's purchase.

The deal is the richest for single-family residence in Miami-Dade County history, according to the Journal.

The Italian-style mansion is one of just about 33 homes on Indian Creek Island, which is off of Miami Beach. Lampert's new home is on the western side of the island, across the island's only street from the Indian Creek Country Club's clubhouse.

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