Nick Hexum, lead singer for rock band 311, has listed his private island in the Florida Keys for $10 million. He originally purchased the property for $2.8 million in 2003.
The six-acre island is about a half mile off of Summerland Key, which roughly midway between Marathon and Key West and is less than 100 miles from Miami. The 3,500 square foot house on the property features three bedrooms, a crow’s nest balcony on the roof where Mr. Hexum says he likes to play guitar, and a third-floor great room with a 300-gallon aquarium. The island also has a cement pier, pool, barbecue deck, and its own propane-powered generator. The island’s previous owner Cris Lesick says the electricity stayed on during Hurricane George in 1998, when most of the Key West Florida area lost power. Mr. Hexum renamed the island Melody Key from Money Key and has spent several million dollars renovating it.
Mr. Hexum, who has his primary residence in Los Angeles, will not accept an offer under $10 million. "Do not waste my time with $9,999,999," he says.
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This poor dude will wind up in foreclosure.. He paid $2.8 million and spent millions on renovations and landscaping, according to a 2006 Wall Street Journal article. He also said that the property was “mortgaged to the hilt.” He tried asking $10 million at that time, but now has it down to $4.9 and nobody is jumping at that price. The rental history is weak and the expenses have to be astronomical. How did some Alt Rock singer think he could afford this?
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