The renovation of a Miami-Dade County mansion will cost $250,000 to $300,000, according to a report in the Palm Beach Post.
The house was previously valued at $1.2 million when it was built in the 1930s and has undergone a number of renovation projects since then.
The house was built by one of the wealthiest men in the country, George Vanderbilt, and is one of Florida’s largest private residences.
According to the report, the renovation will cost about $150,000 less than what it would have cost to build the home.
The price tag will increase from $1 million to $2 million in the future.
The mansion is one in a series of properties that include an apartment building, a tennis court and a shopping mall.