University of Miami supporter John Ruiz has listed his Gables Estates mansion for $175 million, making it the second highest-priced home on the market in Miami-Dade County. Ruiz, who is the founder and CEO of MSP Recovery, bought the property at 600-620 Arvida Parkway for $46 million in 2020.
The estate covers nearly 15,000 square feet and features ten bedrooms, fourteen bathrooms, two half-baths, a guest house with two bedrooms, staff quarters, gym, spa, salon, speakeasy lounge, wine cellar, an eight-car garage, pool, dock, panic room and backup generators. The home sits on 2.2 acres with 335 feet of water frontage. Designed by architect Cesar Molina and expanded in 2022 after being built in 2017, the property is represented by Alex Pirez of Mocca Realty.
Ruiz’s company MSP Recovery was investigated by the Securities and Exchange Commission for three years regarding its financial projections to investors. According to reporting from the Miami Herald in September last year, “the SEC completed its investigation and it did not plan to pursue legal action.” Ruiz has also invested significant sums supporting University of Miami student athletes and purchased Cigarette Racing Team brand in 2021.
This listing ranks as the fifth most expensive home currently for sale in Florida according to Realtor.com. The Gables Estates neighborhood has seen an increase in ultra-luxury sales recently. Last year Alex Pirez sold his own waterfront mansion at 340 Leucadendra Drive for $55 million—a record for Coral Gables home sales. Billionaire Jorge Mas also recently bought a mansion within Gables Estates on Casuarina Concourse for $75 million.
