Villa Maria ($49,500,000) is a private and magnificent waterfront estate with stately gardens and glorious views of Mecox Bay. The residence is offered on approx. 7.6 acres with a dock and 680 feet of bulk headed waterfront (additional acreage is available). The present owners, world-renowned designers, purchased this spectacular property in 2005 and began a 6-year project to restore the home’s original 1920’s grandeur while modernizing it into a splendid 21st century estate. At approx. 22,000 sq.ft., it has 11 bedrooms including a 6-room beautifully appointed master suite, a handmade stone and wrought iron staircase, a 60-foot living room with original fresco details and a state-of-the-art kitchen. All principal rooms are brilliantly sunny and take advantage of the panoramic water views. The outdoor spaces feature a grand 2-story portico and a large stone terrace overlooking the wide lawn and bay. There is a waterside pool, pool cabana, tennis court and a charming two-bedroom guesthouse.