05/19/2012 12:51 am ET Updated May 20, 2012

1220 S Ocean Blvd: Incredible Palm Beach Estate For Sale For $74 Million (PHOTOS)

The Barbie dream house is real -- and it isn't cheap.

The most expensive estate on the market in the Island of Palm Beach, this 20,129-square foot spec house on South Ocean Boulevard, completed just last year, is listed for a whopping $74 million.

Sound insane? It is. But believe it or not, the Wall Street Journal reports nearby homes have sold for $77.5 million and $68.5 million in the last few years. (They don't call it Billionaire's Row for nothing.)

The 20,129-square foot pad, which sits on 2.5 acres with deeded water access, boasts 9 bedrooms, 17 bathrooms, and 7,000 extra square feet of loggia, garage, and guest house. Described by the listing agent Jim McCann at the Corcoran Group as "an art collector's dream showcase home," the estate features inspirations from French architecture in intricate detailing from the front door to the crown moulding on the ceiling.

Blown away? Consider this: the home was originally listed for $84 million, so its current price is already nearly 12 percent off.

Salivate over photos of 1220 South Ocean below, or click here for more information.

1220 S. Ocean Blvd.

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