Fisher Island, America’s wealthiest ZIP code (33109), has a condominium up for auction this month — for the first time ever.

The Floridian paradise’s first auction on July 16 for a property that has been listed for $23.9 million. The massive five-bedroom, five-and-a-half bathroom condominium boasts 8,200-square-feet of living space and a 4,200-square-foot wraparound terrace on the ground floor of the nine-floor Villa Del Mare.

“On Fisher Island, the sales market is generally very efficient, and sellers with loftier listing prices can frankly sit and wait as long as they wish for a buyer. In this case, this seller owns more luxury property than he feels he currently needs or uses, and prefers to move the Fisher Island property expeditiously,” explained Trayor Lesnock, president and founder of Platinum Luxury Auctions, the Miami-based auction company that is hosting the auction next week.

Read the full article by Sarah Paynter on Yahoo! Money or Yahoo! Finance.