Adrienne Arsht Lists Miami Estate for Record 0M

Adrienne Arsht Lists Miami Estate for Record $150M

Adrienne Arsht and her Brickell Avenue property (Getty, 1 Oak Studios)

Miami businesswoman and philanthropist Adrienne Arsht listed her waterfront Miami estate for $150 million, which would set a statewide record if sold at that price.

The 4-acre Coconut Grove property, with two homes at 3031 and 3115 Brickell Avenue, has already set a record for the most expensive residential listing in Miami-Dade County, according to the brokerage marketing the property. The estate is hitting the market at a time when there is little inventory of ultra high-end homes in South Florida, and follows record sales throughout the tri-county region.

Combined, the two homes have 12 bedrooms and 13.5 bathrooms. The estate is near Vizcaya Museum & Gardens and just south of the ramp to the Rickenbacker Causeway leading to Key Biscayne.

Arsht, the former chairman of TotalBank, donated $30 million to the nearby (and subsequently named) Adrienne Arsht Center for the Performing Arts. She has hosted former U.S. presidents, ambassadors and world leaders at her Miami home.

Her estate’s two two-story homes and other structures total more than 25,000 square feet. Arsht had the primary five-bedroom home built in 1999. It features 20-foot ceilings, a formal living room and great room, dining room that seats up to 20, a primary bedroom suite with a full gym, six-car garage, bayfront pool and more, according to a press release.

That home was designed by the former University of Miami School of Architecture Dean Jose Gelabert-Navia.

The second house was built in 1913 by William Jennings Bryan, former U.S. Secretary of State, and was designed by the late architect August Geiger. It is on the National Register of Historic Places.

The property has more than 400 feet of bay frontage.

She acquired the homes in two separate deals. In 1996, she paid $4 million for the property that is the site of the newer house, and bought the historic home in 2007 for $12 million, records show.

Arsht’s neighbors include Leonard Abess Jr., the son of City National Bank founder Leonard Abess. Abess Jr.’s property borders Vizcaya and spans nearly 11 acres. Miami developer David Martin is also building a house on the same street as Arsht.

The record for single-family home sales in South Florida was set nearly a year ago with private equity billionaire Scott Shleifer’s $122.7 million purchase of an oceanfront mansion in Palm Beach.

Among the most expensive listings, the former Ziff family estate in Manalapan was once asking $200 million. It sold last year for just $94 million.

The Wall Street Journal first reported the news of Arsht’s listing. Ashley Cusack of Berkshire Hathaway HomeServices EWM Realty is the listing agent.

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