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Mashta House On Key Biscayne Sells For Record $47,000,000

January 7th, 2016 Written By Riley Smith

South Mashta Drive

The iconic Mashta House on Key Biscayne has just closed for a record $47,000,000. This is the highest sale price on record for Key Biscayne, and was the second highest on record for Miami Dade County. The property was steeped in history, as it was the home of Miami pioneer W.J. Matheson in the early 1900’s. ┬áMatheson lived in Coconut Grove but would bring his guests to the property to watch the magical sunsets. At that time, Key Biscayne was only accessible by boat.

In 1989, the property was purchased by a Colombian businessman for $1,300,000. He built the current structure on the land which had 6 bedrooms, 8.5 baths.

Mashta House was listed last year for $60,000,000 with One Sothebys agent Jorge Uribe.

It will be interesting to see what the new owners will do the with the property, stay tuned to the blog for updates!

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