Pumpkin Key upholds the tradition set forth by so many of its fellow private island peers: it's the land, not the housing, that's interesting. There are exceptions, of course—mostly thanks to Celine Dion—but generally these masses are cool just because, well, who wouldn't want to pitch a flag and become king or queen of their very own Lilliputian nation? Here that land—26 acres just off Key Largo in the Florida Keys—is going to have to stand on its own in order to snag a buyer for the $110M it's just been listed for.
Included in the deal is a 5,000-square-foot, three-bedroom home (ever so artistically portrayed in watercolor in the listing); a marina; tennis courts ("that double as a helipad," according to the Journal); a couple of caretaker's cottages; a dock master's apartment; a 20-slip marina "able to accommodate a mega-yacht" (hint, hint, Russian billionaires); and a dozen developable bay-front lots. The island is technically part of Ocean Reef, a private gated club, so the new buyer (or, more likely, anyone who buys single-family homes from the developer who eventually lays down for the island) also has access to the community's amenities, including a spa, salon, restaurants, retail, golf, tennis, arts events, schools, and so on—all reachable by boat or helicopter from, you know, the kingdom. Although Copper Beach Farm, a massive estate in Greenwich, Conn., was technically relisted about a week ago, it's been looking for a buyer since May 2013 and had already been PriceChopped to its current ask, $130M, in January. Therefore, Pumpkin Key is the priciest new U.S. listing of the year so far, and ranks high on the list of the country's most expensive homes.