Procure Development has purchased the historic Villa Prescott and its surrounding grounds for $20 million, marking the beginning of an exclusive new community. The project, named Prescott Estates, will feature the meticulously rebuilt 1920s-era Villa Prescott alongside four new waterfront luxury homes on Biscayne Bay, offering unparalleled views and amenities.
Key Takeaways
- Procure Development acquired the Villa Prescott and 1.4-acre plot for $20 million.
- The development, Prescott Estates, will include the rebuilt historic villa and four new waterfront homes.
- Sales have commenced for the ultra-luxury residences, with prices ranging from $15 million to $25 million.
A Legacy Project on Biscayne Bay
Procure Development’s acquisition of the Villa Prescott and its 1.4-acre parcel for $20 million signals a significant new luxury development on Biscayne Bay. The project, dubbed Prescott Estates, aims to create a legacy community that blends historic charm with modern ultra-luxury living.
The Reimagined Villa Prescott
The centerpiece of the development is the historic Villa Prescott, originally built in the 1920s. This iconic residence will undergo a comprehensive rebuilding and elevation process, resting on a stone plinth. The restored villa will boast 8,280 square feet of living space, featuring six bedrooms and seven-and-a-half bathrooms, preserving its historical significance while incorporating contemporary luxury.
New Waterfront Estates
Complementing the historic villa, Prescott Estates will introduce four new waterfront luxury homes. These residences are designed to offer an exceptional living experience, with sizes ranging from 4,711 to 7,621 square feet, each offering four to six bedrooms. Notable features include innovative “floating” living rooms that extend over the water, private bayfront pools, and direct yacht access, catering to the most discerning clientele.
Prime Location and Exclusive Sales
Located at 1000 NE 72nd St. and 7101 NE 10th Ave., the development offers breathtaking views of Biscayne Bay, downtown Miami, and Miami Beach. Chad Carroll of The Chad Carroll Group at Compass facilitated the transaction and will lead the exclusive sales and marketing efforts for Prescott Estates. Prices for these exclusive residences start at $15 million and can reach up to $25 million, reflecting the unparalleled quality and prime location of this distinctive community.