The famed ‘La Brisa’ mansion has sold for $34.6 million to a nearby private school, making it the most expensive single-family home sale in Miami’s eclectic Coconut Grove.
It’s also the highest residential sale Miami-Dade County has seen this year, according to listing agent Nelson Gonzalez, senior vice president of EWM Realty International.
The Mediterranean Revival-style home sits on nearly seven acres, with manicured lawns that stretch from its patio toward Biscayne Bay.
The estate first hit the market at $65 million in October of 2014. At the time, it was Miami’s most expensive listing. Since then, the property underwent a series of price reductions and was most recently listed for $39.5 million. In a deal that closed on Tuesday, it was purchased by Ransom Everglades, a nearby private school for grades 6 - 12.
“We can’t pass up the opportunity to buy this beautiful property,” said Penny Townsend, Ransom Everglades head of school, in a statement. “The purchase will allow us to improve our facilities, add vital green space and continue our long tradition of respecting, protecting and learning from the treasures of Old Florida and Miami’s precious coastal ecosystems.”
The purchase was made possible through “generous donations,” according to the statement. Ransom Everglades is planning to improve upon its current campus, which is located near La Brisa. At this time, there are no specific plans for how it will use the property, according to a school spokeswoman.
Built in the 1920s, the more than 13,000-square-foot home has undergone extensive renovations. The estate has more than 3,300 square feet of outdoor space, including wrought-iron and wood balconies with views of the grounds. The property also features more than 200 feet of waterfront.
Browse the gallery above to see more of the sprawling estate.
Write to Gina Faridniya at gina.faridniya@dowjones.com