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Key Biscayne's Mashta Point Sells for Record $47M

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Mashta Point via ONE Sotheby's International Realty/taken by Jason Spiewak

After being listed in September of 2014 for a surreal $60 million, the one-of-a-kind Mashta Point sold for $47 million to an unknown buyer just before Christmas. The sale is a record for Key Biscayne and the second priciest residential sale in Miami-Dade in 2015 (behind the Faena penthouse).

Featuring 2,000 feet of water frontage, the residence built by one of Key Biscayne's founders in William J. Matheson lives on one of the most unique plots of land in South Florida. Its most distinct feature is unquestionably the private cove engulfed by the peninsula-shaped land. The five-story mansion stretches 11,600 square feet and has six bedrooms, eight bathrooms and a gazebo. Jorge Uribe of ONE Sotheby's International Realty represented both the seller and buyer. It's a fitting end to a wild year of residential real estate in South Florida.

· Key Biscayne Estate Sells for Record $47M [TRD]
· 775 Mashta Drive, Key Biscayne [Zillow]
· Mashta Point [Curbed Miami]