Mashta House in Key Biscayne Just Sold for $47 Million
The original house on Mashta Point.
Mashta House, the estate of one of Key Biscayne’s founding families, the Matheson’s, just sold for $47 million, becoming the second most expensive sale in Miami-Dade County in 2015, and the most expensive sale ever in the history of Key Biscayne.
This estate sold for $4,052 per square foot.
Jorge Uribe listed the home in September 2014 for $60 million, then reduced the price to $55 million in May. The home finally sold on December 23, 2015. Someone got themselves an incredible Christmas present.
Uribe represented both the seller and the buyer, likely netting himself close to a $3 million commission. The owners of the property paid $1.3 million for it in 1989, garnering themselves a quite impressive $45 million+ profit.
This sale matches the all-time record for any single-family home sale in Miami-Dade County; the $47 million sale of 3 Indian Creek Island back in 2012. The only sale price that beat this one in 2015 was the $60 million sale of the Faena House penthouse in Miami Beach to billionaire Ken Griffin.
MASHTA HOUSE ORIGINAL POST PRIOR TO SALE:
A Key Biscayne waterfront mansion called Mashta House, located at 775 S Mashta Dr, Key Biscayne, FL 33149, that’s situated on a private 2 acre peninsula with a private cove is now listed for $60 million.
If it sells for its asking price, this property will set the record for the most expensive residential sale in history in Miami. The current record was set in 2012 by a $47 million sale of an Indian Creek Island house. A penthouse at Faena House in Miami Beach priced at $50 million is in contract, but hasn’t closed yet.
Known as Mashta Point, the crescent-shaped property sticks out into Biscayne Bay with a man-made cove and a deep-water harbor. The 12,000-square-foot house was built in the early 1990’s. It has 6 bedrooms, 8 bathrooms, an elevator, a pool, and dock. The house currently rents out for $50,000 a month.
Mashta Point was originally constructed on the Bay side of Key Biscayne by William John Matheson, who owned an extensive coconut plantation on the island. where : Matheson built the custom-designed “Moorish-style palace” as an entertainment centerpiece and island hideaway for his family and guests. Mashta, an Arabic word, means “Resting House” and “Where Waters Meet.”, a perfect name for this island paradise home. Mashta House was originally built on manmade filled swampland.
For some more history on Mashta House in Key Biscayne, check out my post about the History of Bill Baggs State Park.
Price:$60,000,000
City:Key Biscayne
Zip:33149
State:FL
MLS#:A2001951
Type:Single Family
Square Ft.:11588
Year Built:1991
Beds:6
Baths:8
Tax Year:2013
Taxes:128153
Currently Available Homes for Sale in Key Biscayne:
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