Ransom Everglades to buy La Brisa estate in Coconut Grove

Miami /
Jun.June 16, 2016 06:20 PM

Ransom Everglades School has entered into an agreement to purchase the 6.9-acre La Brisa estate in Coconut Grove, the private school announced on Thursday.

Once the most expensive listing in Miami-Dade, the property at 3551 Main Highway sold for “relatively close to asking price,” listing agent Nelson Gonzalez told The Real Deal. The price was reduced in March to $39.5 million. 

A Ransom spokesperson declined to comment on the sale price, but told TRD that the purchase is for the long term and that the school currently has no plans for it at this point. Ransom’s priority is to revitalize its current campus, she said. The waterfront properties are next to each other.

“The purchase will allow us to improve our facilities, add vital greenspace and continue our long tradition of respecting, protecting and learning from the treasures of Old Florida and Miami’s precious coastal ecosystems,” Ransom’s head of school Penny Townsend said in a press release.

The purchase will bring the 9.8-acre Coconut Grove campus to 16.7 acres.

Ransom said it will close on La Brisa on Tuesday.

In 2014, the property was listed for $65 million, then chopped to $55 million in July 2015 and taken off the market in October. Gonzalez took the listing over in November at 47.5 million. At the time, he said he was marketing the property as an estate and as a development site, suggesting townhomes or single-family houses.

“We had a bunch of offers in the beginning but the developers couldn’t make the numbers work,” Gonzalez told TRD.

La Brisa, a waterfront, Mediterranean-style, nine-bedroom, 16,500-square-foot estate, was originally built during the 1920s and later restored. The mansion sits atop an ancient coral reef about 23 feet above sea level and has 208 feet of bay frontage. Features include 3,338 square feet of outdoor living space with several balconies and covered porches and a private port that can accommodate a 70-foot yacht.

La Brisa’s history dates back to 1886, when the land was deeded to children’s novelist and conservationist Kirk Munroe. A trust in his name owns the property.

Gonzalez said the school’s current board is “real estate-savvy.”

“[Ransom] has had several opportunities to buy this property and for unforseen reasons, they had not pulled the trigger,” he said. “They want to expand. This is their goal for the next 100 years.”


Related Articles

arrow_forward_ios
A photo illustration of 18 La Gorce Circle (top) and 2000 South Ocean Boulevard (bottom) (Redfin, Realtor.com, Master Brokers Forum, iStock)
South Florida by the numbers: Local mega listings and sales
South Florida by the numbers: Local mega listings and sales
MG Developer's Alirio Torrealba and rendering of Merrick Parc (MG Developer)
MG plans $204M luxury apartment project near Coconut Grove
MG plans $204M luxury apartment project near Coconut Grove
The development site with Peter Gardner and Abbhi Capital's Sankesh Abbhi (Google Maps, Longpoint, Abbhi Capital)
Abbhi Capital, Peter Gardner pay $19M for Coconut Grove apartments dev site
Abbhi Capital, Peter Gardner pay $19M for Coconut Grove apartments dev site
Todd Michael Glaser and Tim Hardaway Jr. with 6015 North Bay Road (Getty, iStock, Illustration by Shea Monahan for the Real Deal)
Tim Hardaway Jr. buys non-waterfront spec home in Miami Beach
Tim Hardaway Jr. buys non-waterfront spec home in Miami Beach
MG Developer CEO Arilio Torrealba and the property at 3898 Shipping Avenue in Coconut Grove (Google Maps, iStock, MG Developer Miami)
MG buys redevelopment site near Coconut Grove for $20M
MG buys redevelopment site near Coconut Grove for $20M
CMC Group's Ugo Colombo and a rendering of Vita at Grove Isle (Photos via Vita at Grove Isle)
Lawsuit aims to stop controversial Grove Isle project now developed by Ugo Colombo
Lawsuit aims to stop controversial Grove Isle project now developed by Ugo Colombo
CMC Group's Ugo Colombo in front of 2950 Southwest 27th Avenue (LoopNet, Getty Images)
Ugo Colombo’s CMC Group sells Coconut Grove office building for $11M
Ugo Colombo’s CMC Group sells Coconut Grove office building for $11M
The Grove Central project in Coconut Grove (Terra and Grass River Property)
Lease roundup: Breitling opens in Miami Design District, Sprouts leases in Coconut Grove
Lease roundup: Breitling opens in Miami Design District, Sprouts leases in Coconut Grove
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...