For the first time in Miami-Dade County history, a residential property sale has crossed the $100 million threshold. The Arsht Estate, a four-acre waterfront compound owned by Adrienne Arsht, one of the most revered business leaders and philanthropists in the United States, sold today for $106,875,000.
Top-producing Senior Vice President Ashley Cusack with Berkshire Hathaway HomeServices EWM Realty represented Arsht. Jill Hertzberg of The Jills Zeder Group with Coldwell Banker represented the buyer, who is undisclosed.
“As the steward of this beautiful property, I am proud to leave its legacy to the next generations of caretakers,” said Arsht. “May they also enjoy the breathtaking view!”
“It has been an honor to represent this landmark estate, which is truly one of the most magnificent in the U.S. -- fully steeped in Miami’s history,” said Cusack. “Pairing that prominence with Ms. Arsht’s commitment to community has been all the more impactful.”
Indian Spring
Neighbored by the historic Vizcaya Museum, The Arsht Estate encompasses more than 25,000 square feet of exquisitely detailed structures. Overlooking Biscayne Bay from atop one of Miami’s highest bayfront elevations, it features more than 400 feet of water frontage, as well as panoramic views of Key Biscayne and downtown Miami. Throughout the years, the property -- often referred to as South Florida’s “embassy” -- has been the backdrop for numerous important events and gatherings involving international luminaries, including U.S. presidents, ambassadors, and world leaders.
The Arsht Estate’s primary residence, known as Indian Spring, was built by Arsht in 1999 and designed by Jose A. Gelabert-Navia, the former Dean of the University of Miami School of Architecture. All living areas in the home offer views of the grounds and Biscayne Bay. Built to accommodate grand-scale entertaining, additional highlights include a Great Room, expansive courtyard entryway, formal dining room with seating for more than 20 guests, a primary bedroom suite with a full gym, and a grand foyer with a sweeping staircase. Indian Spring also has a six-car garage with an upstairs apartment and private office, bayfront swimming pool, and a lighted tennis court.
Villa Serena
The second residence, Villa Serena, was built in 1913 by former U.S. Secretary of State and three-time U.S. presidential candidate William Jennings Bryan and is listed on the National Register of Historic Places. Designed by architect August Geiger, the home also has unobstructed Biscayne Bay views and was carefully restored by Arsht to reflect its original glory. Its unique design includes two ornate staircases, which access private upstairs sleeping quarters, as well as a detached guest house situated above a three-car garage.
Arsht, a native Delawarean, divides her time among Washington, DC, Miami, and New York. In Miami, she was Chairman of the Board of TotalBank. Arsht’s vast philanthropy includes the Adrienne Arsht Center for the Performing Arts in Miami; The Atlantic Council's Adrienne Arsht Latin America Center and Adrienne Arsht-Rockefeller Foundation Resilience Center, each located in Washington, DC; the Adrienne Arsht Stage at Alice Tully Hall in New York's Lincoln Center; and funding for the first all-paid internships at the Metropolitan Museum of Art in New York.
“This will be a very important day for future Miami historians,” said Ron Shuffield, President & CEO of Berkshire Hathaway HomeServices EWM Realty. “The first residential property in Miami to surpass the $100 million sale mark will forever hold a prominent place in Miami’s history. Today’s record sale is a testament to the ever-increasing global interest in our hometown.”
Indian Spring
Villa Serena
Photos via 1 Oak Studio