Arsht has pledged to donate the proceeds to charity, but hasn’t decided which yet.
It is the most expensive listing ever for a home in Miami. The record sale price in Miami was just recently set on Star Island at $75 million.
There are two home on the property, including one known as Villa Serena, built in 1913 for former U.S. Secretary of State William Jennings Bryan. Another is just 20 years old and was designed by Jose Gelabert-Navia.
In total, there is 25,000 square feet of living space, 4 acres of land, and 400 feet of Biscayne Bay frontage.
Arsht, who is 79, still plans on maintaining a Miami home.