Real Estate

Adrienne Arsht sells Miami estate for a record $106.87M

Residing within the Free State of Florida doesn’t come totally free.

Businesswoman and philanthropist Adrienne Arsht has bought her 4-acre waterfront compound in Miami’s Coconut Grove neighborhood for a cool $106.87 million, its itemizing brokerage confirmed to The Put up on Friday. The Wall Avenue Journal, which broke news of the sale, reported that mighty sum not solely breaks a gross sales document for Miami-Dade County, but in addition marks the primary time a Miami residence has traded palms for 9 figures.

Arsht listed the property in January for $150 million, with that asking worth additionally having marked a document for the priciest single-family unfold ever to checklist in that county.

The identification of the deep-pocketed new proprietor, in line with itemizing brokerage Berkshire Hathaway HomeServices EWM Realty, is undisclosed. That purchaser first visited the unfold in July and the deal reportedly moved quick. Nevertheless, Arsht — for her half — is aware of she’s leaving the property in good palms.

“Because the steward of this lovely property, I’m proud to go away its legacy to the subsequent generations of caretakers,” stated Arsht within the press assertion. “Could in addition they benefit from the breathtaking view!”

Situated in Coconut Grove, the property has views of downtown Miami.
1 Oak Studios
It features 400 feet of water frontage.
It options 400 ft of water frontage.
1 Oak Studios
The estate has two houses. This one, Indian Spring, has a pool.
The property has two homes. This one, Indian Spring, has a pool.
1 Oak Studios

From the time Arsht listed it, she knew she would donate the proceeds of the sale to charity — and he or she nonetheless doesn’t know which one, or ones, she’ll select.

This high-dollar deal beats the earlier document set earlier in 2022 by InterSystems founder Phillip Ragon’s roughly $93 million buy for 3 adjoining Atlantic Ocean-front houses in Golden Seaside.

Arsht’s property — neighboring the Vizcaya Museum — consists of two separate homes spanning some 25,000 sq. ft of residing house and a complete of 12 bedrooms. Perched on one Miami’s highest Biscayne Bay-front elevations, it additionally consists of greater than 400 ft of water frontage, looking to views of Key Biscayne and the downtown Miami skyline.

Arsht will donate the proceeds of the sale to charity.
Arsht will donate the proceeds of the sale to charity.
Getty Pictures

The compound’s predominant residence is called Indian Spring, which Arsht in-built 1999, tapping Jose A. Gelabert-Navia, a former dean of the College of Miami Faculty of Structure, for the design. Inside Indian Spring, which has a lobby with a sweeping staircase, all residing areas have views of Biscayne Bay — and embody a fantastic room and a proper eating room with seating for 20-plus company.

The master suite suite has a full fitness center. Elsewhere, this construction has a storage for six automobiles, an upstairs residence with an workplace house, a swimming pool that fronts the bay and a lighted tennis courtroom. Arsht bought the location for Indian Spring within the late Nineties for roughly $4 million. That land was beforehand owned by the Ziegfeld Follies star Peggy Hopkins Joyce and her then-husband, the lumber magnate James Stanley Joyce.

The estate has a total of 12 bedrooms.
The property has a complete of 12 bedrooms.
1 Oak Studios
Villa Serena has a stunning tiled floor.
Villa Serena has a shocking tiled flooring.
1 Oak Studios
Another angle of Villa Serena.
One other angle of Villa Serena.
1 Oak Studios

The opposite residence on the grounds is called Villa Serena, which dates to 1913. William Jennings Bryan, a former US Secretary of State and a three-time candidate for president, constructed it with the design assist of architect August Geiger. It’s listed on the Nationwide Register of Historic Locations — and it, too, seems out to bay vistas. Restored by Arsht after she purchased it within the late 2000s for about $12 million, Villa Serena boasts two ornate staircases heading as much as the sleeping quarters and, elsewhere, a three-car storage with a visitor home perched above.

Villa Serena had been listed in 2007; a developer had deliberate to buy it, demolish the present construction and construct a number of houses on its land. Arsht labored with native historians to offer it that historic designation. The restoration took upwards of 4 years and price a number of million {dollars}.

Indian Spring, the more recently built home, has a massive dining room.
Indian Spring, the extra lately constructed residence, has an enormous eating room.
1 Oak Studios
Another grand entertaining area inside Indian Spring.
One other grand entertaining space inside Indian Spring.
1 Oak Studios
Another peek inside Indian Spring.
One other peek inside Indian Spring.
1 Oak Studios

Arsht hails from Delaware and splits her time between Miami, Washington, DC and New York. She’s the previous head of her household’s TotalBank, which bought to Spain’s Banco Well-liked Español in 2007 for $300 million. Miami’s Adrienne Arsht Middle for the Performing Arts bears her title following a $30 million donation made in 2008.

Ashley Cusack of Berkshire Hathaway HomeServices EWM Realty had the itemizing. Jill Hertzberg of The Jills Zeder Group with Coldwell Banker represented the customer within the deal.

Show More

Related Articles

Back to top button