The sports car and speedboat racing heir to the Italian ultra luxury goods empire, Luca Formilli Fendi, recently sold his two bedroom condo in the swank One Beacon Court in Manhattan for $6.1 million.  Luca turned a sweet 38% profit on the deluxe apartment in the New York sky. Now it looks like he may have put some of his proceeds into a beautiful waterfront home on one of Miami Beach's most exclusive islands, Dilido Island along the Venetian Causeway.  Fendi bought the contemporary 1950 home in March for $5.5 million.  While not enough waterfront to dock the 194 foot Fendi decorated Benetti mega yacht Lady Laura, the home boasts well over 100 feet on Biscayne Bay.  The mid-century modern house is being renovated and features a uniquely designed swimming pool on the second floor overloo... 07/21/2011

Di Lido Island • Miami Beach, Florida ~ Di Lido Island is the third artificial island from the east of the Venetian Islands, a chain of artificial islands in Biscayne Bay near Miami Beach, Florida. It is home to residential neighborhoods and a portion of the Venetian Causeway. The unfinished artificial island Isola di Lolando from the Florida land boom of the 1920's is located near the north tip of Di Lido Island. New Page 1 <!-- img.imageThumb { height:192px; margin:10px; -ms-interpolation-mode:bicubic; border:0px none; } div.imageText { width:275px; word-wrap:break-word; } --> DI LIDO ISLAND • MIAMI BEACH Beautifully Renovated Private Bayfront Villa Located on the South West Tip of Dilido Island, with Spectacular Downtown Views, Amazing Sunsets, 107 Feet on the Water, Large Dock, P... 05/13/2008

Di Lido Island is the third artificial island from the east of the Venetian Islands, a chain of artificial islands in Biscayne Bay near Miami Beach, Florida. It is home to residential neighborhoods and a portion of the Venetian Causeway. The unfinished artificial island Isola di Lolando from the Florida land boom of the 1920's is located near the north tip of Di Lido Island.830 W DI LIDO DRIVE     DI LIDO ISLAND    WATERFRONT ESTATE         $3,650,000.00    Property FeaturesCity Name: MIAMI BEACHZip Code: 33139Year Built: 1947Design: DetachedSubdivision Name: DILIDO ISLAND#Beds: 4#Full Baths: 3#Half Baths: 0Square Feet Living Area: 3734Type of Property: SingleStyle: Waterfront/Pool/No Ocean Access#Garage Spaces: 1   Isola di LolandoA Miami real estate bubble burst in the mid 1920s as a ... 11/05/2007