Business

Key Biscayne home listed for sale for $60 million

An erstwhile playground for the Vanderbilts, Carnegies, and Mellons has hit the market in Key Biscayne.

The 2-acre bayfront property on a secluded peninsula at 775 S. Mashta Drive on Key Biscayne is listed on the market for $60 million.

If the property fetches that price, it would break the record for Miami-Dade County. To date, the highest price paid for a home in Miami-Dade was $47 million for 3 Indian Creek sold in August 2012.

At Mashta, the six-bedroom, eight-bath mansion boasts a private deep-water yacht harbor and 2,000 feet of waterfront along Biscayne Bay.

“It’s really, really an exciting piece of property. Historically interesting and very unique in its shape,’’ said One Sotheby’s International Realty senior vice president Jorge E. Uribe, who is co-listing the property with Tata Botero.

W.J. Matheson, who owned much of Key Biscayne, began building the original Mashta House on the man-made peninsula in 1917, drawing from a house he saw while visiting the Nile, according to a 2008 Miami Herald article about the site. The original house, long since gone, was used for guests in the 1920s and 1930s, including the Vanderbilts, Carnegies and Mellons, who arrived by yacht. It was abandoned after damage by storms.

The current building — a 5-story, 11,600-square-foot estate — was built in 1991. The owner is listed as Pitu Inc., with William C. Lewis Jr. as trustee.

Uribe said determining a price for such a nonpareil property is challenging. “It’s a very unique piece. In the past, they turned down very significant offers,’’ he said.

Even so, the Mashta property isn’t the priciest on the market in South Florida.

Last week, in Hillsboro Beach, a new single-family home nearing completion on Millionaires’ Mile was put on the market at what the listing agent, William P.D. Pierce of Coldwell Banker, said is the highest price for any home listed for sale in the nation: $139 million.

The Hillsboro Beach property — a 60,000-plus-square-foot estate dubbed Le Palais Royal — covers 4.4 acres and has 465 feet of beachfront and 492 feet on the Intracoastal Waterway.

  Comments