Historic Prescott Estates Sells for $20M, Launches Luxury Miami Waterfront Homes

Prescott Estates, a landmark waterfront development in Miami's historic Bayside District, has been acquired for $20 million by Procure Development, marking the launch of one of South Florida's most exclusive luxury communities. The project features only five ultra-luxury single-family estates, including the meticulously restored historic Prescott Mansion, creating what promises to be among the region's most prestigious addresses. With 345 feet of unobstructed water frontage, four deepwater docks capable of accommodating 100-foot yachts, and sweeping views of Biscayne Bay, downtown Miami, and Miami Beach, this development represents a rare opportunity for elite waterfront living.

The development is brought to life by an exceptional team including architects Ivan Kadey and Chris Fernandez, award-winning landscape designer Raymond Jungles, and interior designer Stephanie Harroch at XID. The centerpiece is the historic Villa Prescott, an architectural jewel originally built in the 1920s that will be rebuilt and elevated while preserving its Mediterranean Revival-style heritage. Four additional contemporary residences inspired by Mid-Century Modern design principles feature dramatic floating living rooms extending over the water, expansive glass walls, private bayfront pools, summer kitchens, and direct yacht access, with prices ranging from $15 million to $25 million.

Chad Carroll of The Chad Carroll Group at Compass, who represented both sides of the transaction and leads exclusive sales and marketing, describes this as a true legacy project that will last for generations. The development preserves the neighborhood's historic character while elevating it with visionary design, creating a unified community where each residence enhances the next and sets a new benchmark for luxury waterfront living in Miami.