Home News In Miami, a Waterfront Estate With Two Homes Sells for a Record $106.875 Million

In Miami, a Waterfront Estate With Two Homes Sells for a Record $106.875 Million

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A waterfront property in Miami’s Coconut Grove area sold for $106.875 million, setting a Miami-Dade County record and becoming the first Miami home to cross the nine-figure price threshold, according to a statement. Ashley Cusack, Listing Agent Berkshire Hathaway Home Services EWM. real estate.

The seller is businessman and philanthropist Adrian Arsht, whose four acres overlooking Biscayne Bay went up for sale in January. Demanding $150 millionThe identity of the buyer, represented by Jill Hertzberg of Coldwell Banker Realty’s Jills Zeder Group, could not be determined.

Adrian Arsht
indian spring
Peggy Hopkins Joyce.

Adrian Urshut, left. Indian Springs is located on the site of the house once owned by Peggy Hopkins his Joyce. Ron Adar/SOPA Images/ZUMA Press (Arsht); 1 Oak Studio (house); Everett Collection (Joyce)

“As the custodian of this beautiful property, I am proud to pass its legacy on to future generations. Arsht said in a statement. “Let them enjoy the breathtaking view too!”

The deal closed quickly and the buyer first visited the property in July, Cusack said.

Arsht plans to donate the proceeds to charity, but Cusack says he hasn’t decided yet.

The estate includes two separate homes with a total of 12 bedrooms and approximately 25,000 square feet of living space. The first of her two homes, called Indian Springs, was built by Ziegfeld Follies star Peggy Hopkins on land once owned by her Joyce and then-husband millionaire lumberman James Stanley. , was built by her Arsht about 20 years ago. It has 20-foot-high ceilings, a room perfect for entertaining, and a formal dining room that seats up to 20 people. Arsht bought the site in her late 1990s for about $4 million.

The property’s second home is known as Villa Serena. The Mediterranean Revival-style house was built in 1913 for his three-time presidential candidate and former Secretary of State, William Jennings, his Bryan. Arsht purchased the home in his late 2000s for about $12 million and completely restored it.

William Jennings Bryan, circa 1914.


Photo:

Everett Collection

The estate also features outdoor tennis courts and a pool.

The property is near the Vizcaya Museum and Gardens, the elaborate early 1900s mansion of businessman James Deering.

Arsht was the former president of TotalBank, which was family owned and sold to Banco Popular Español for $300 million in 2007. Her Adrienne Arsht Center for the Performing Arts in Miami was named after her after she donated her $30 million to the center in 2008. .

While $100 million sales are more common in neighboring Palm Beach County, this is the first deal in Miami to sell at nine figures, Cusack said. The previous Miami-Dade County record was set earlier this year by Philippe Ragon, founder of technology company InterSystems. Paid about $93 million 3 Houses Adjacent to the Ocean in Golden Beach.

Cusack said Arsht’s property has attracted local and international interest, and the sale price reflects the changing perception of Miami as a business and cultural hub.

write destination Catherine Clark [email protected]

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