Bayfront Lot, With Plans to Rebuild Historic Mansion, Faces “Drastic Price Drop” to $4.95M

July 6, 2016

A 1920s Mediterranean Revival pile called the ‘Prescott Mansion’ used to sit on this Biscayne Bay-fronting lot in the Bayside Historic District in Miami, at 7101 NE 10th Ave. Unfortunately, it doesn’t anymore. The lot, now listed for sale after a “drastic price drop” according to agent Dora Puig to $4.95 million (a $1.5M reduction), comes with plans to rebuild the house and add a contemporary new wing with some crazy luxe amenities designed by architect Ralph Choeff. The plans for the new house include a 7,000 square foot underground garage, a huge pool, 10 bedrooms, 3 kitchens, and a private sandy beach.