Former Telecommunications Exec
To Sell His Key Largo Estate

What: Five bedrooms, six full bathrooms in about 10,000 square feet on less than an acre.

Where: Key Largo, Fla., about 55 miles south of Miami.

Amenities: Pool with underwater lighting, hot tub with waterfall, two guest suites, two-bedroom guest house with kitchen and sitting room

Asking Price: $7.95 million

Opening Bid*: $7.1 million

Listing Agents: Russell Post, Russell Post Properties, 305-367-2027

Due Diligence: This oceanfront house sits on the northernmost tip of Key Largo, the largest of the 220-mile-long crescent of Florida Keys. It's in the Ocean Reef Club, a private community where Frank Gifford and Maurice R. "Hank" Greenberg, former American International Group Inc. chief executive, own homes, according to people with knowledge of the community. Owner Don McClure, a 62-year-old former telecommunications executive, says he and his wife, Charlene, paid $6.1 million for the property six years ago. (The couple's main home is on Maryland's eastern shore.) The home, built in 1992, includes reinforced steel shutters on all windows and doors. A 2.5-story lanai covers the pool and porch areas, and the master bedroom is en suite with a sitting area and ocean views. The two guest suites come with kitchens, living rooms and office space. The property comes with about 100 feet of ocean frontage (no beach) and a dock. Mr. McClure says the private Ocean Reef Club must approve prospective buyers.

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