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Yours for $28 Million: Venice Island With Its Own Convent Ruin

Santo Spirito, an island in Venice’s lagoon with a derelict convent, has been put up for sale by Italian real-estate investors for more than 20 million euros ($28 million).

Holding company Poveglia Ltd. hired Colliers International to sell the 6.2-acre (2.5-hectare) island, which is a 10-minute boat ride from St. Mark’s Square, the broker said in an e-mailed statement.

As well as the 3,500 square-meter (38,000 square-foot) ruined convent, founded in the 12th century, the property has planning consent for 4,500 square meters of new construction. Colliers said Santo Spirito is the last complete island available for sale in the lagoon.

“Investors have the unique chance to customize an island to their needs,” said Massimo Saporito, head of investment in Italy for Colliers. The site would best suit a luxury residential development or a hotel, he said.

Venice’s art, architecture and heritage, the legacy of the city’s domination of maritime trade in the Mediterranean Sea in the Middle Ages and Renaissance, attracted 8.5 million visitors last year, according to the city’s tourism board.

Flooding, a hazard for the city because of the lagoon, prompted United Nations Educational, Scientific and Cultural Organization Director Rene Maheu to start a program in 1966 to restore and preserve buildings and art.

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Francesco Algarotti HOuse open for vacation rentals

The Luxury apartment in Venice "Francesco Algarotti House" is the main floor of Palazzo Cà Corniani degli Algarotti, built in 1550 and acquired in 1706 by Bonomo and Francesco Algarotti, well-known writer, poet, essayist and divulger of science.

The palace was restored in 2008 and is presented in its ancient magnificence. The main floor, fully renovated inside, consists of a large living room, 60 square meters with 6 meters high ceilings, with the style of "Sansovino" and walls with a wonderful set of eighteenth-century stuccos, works of rare beauty.

Features three terraces, made up in stone of Istria.

There are nine rooms, one double bedrooms, two single bedrooms, one living room, a fully equipped kitchen, a wardrobe room, bar and lounge room, a large banquet hall and two new bathrooms.

The apartment is about 200 square meters and is also equipped with a private warehouse, water frontage and the new communal roof terrace with an incredible view of Venice and its lagoon. According to the series of stuccos and its polychrome marbles, the apartment is supervised by the Superintendency of Artistic and Architectural Heritage of Venice.

Francesco Algarotti House is ideal for an exclusive holiday in Venice, to feel the culture of an authentic “Domus Venetian".

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