Key Biscayne estate sells for $47 million

Property includes 11,600 square-foot mansion

By Jeff Tavss - Executive Producer

Potential Powerball winners who were looking for prime real estate on Key Biscayne have missed their chance to own one of the area's most historic properties.

An old estate once owned by the Matheson family was sold for $47 million to an unnamed buyer.

The price ties the record for the second-highest paid for a Miami-Dade residence and second only to the $60 million spent on a Miami Beach penthouse.

The Matheson estate sits on two acres on Key Biscayne.

An 11,600 square-foot mansion currently sits on the property, but according to the Miami Herald, the original home built by early Miami settler W.J. Matheson during World War I was torn down.

The property, originally known as Mashta House, includes a private deep water yacht harbor.  Guests like the Vanderbilts, Carnegies, Mellons used to arrive at the home via private yachts.

The Herald reports that Matheson purchased the area in 1908 and built a mansion inspired by a Moorish-style home he had seen while traveling on the Nile River.