Miami Beach’s Most Expensive Waterfront Estate Hits the Market at $169 Million, Redefining Luxury Living
5940 N Bay Rd: The Crown Jewel of Miami Beach Real Estate
In the heart of Billionaire’s Row, 5940 N Bay Rd stands as one of the most iconic addresses in Miami Beach real estate, now offered at a staggering $169 million. This Miami Beach home for sale is more than just a residence – it is a testament to prestige, privacy, and architectural mastery. First constructed in 1936, the estate has been meticulously maintained and expanded over the decades, blending historical grandeur with contemporary luxury. With eight bedrooms, sixteen bathrooms, and nearly 19,000 square feet of living space, it is one of the most substantial homes on North Bay Road.
Historic Legacy and Transaction Background
The property has a distinguished past, reflective of Miami Beach’s evolution into one of the world’s most desirable luxury markets. Built during the golden era of 1930s architecture, the estate carries the timeless sophistication of Mediterranean Revival design, a style synonymous with Miami’s earliest luxury mansions.
Public records show that in July 2025, ownership transferred to 5940 Nbr Owner LLC, an indication of the continuous investment interest in this rare location. Shortly afterward, in August 2025, the home officially entered the market with an asking price of $169 million, or approximately $9,010 per square foot. These numbers place it among the most valuable properties in Florida’s luxury housing market, reinforcing its standing as a once-in-a-lifetime offering.
Nelson Gonzalez of BHHS EWM Realty, the exclusive listing agent, emphasized the home’s unique stature when speaking with Luxury Houses Magazine: “5940 N Bay Rd is not just another mansion – it represents the pinnacle of Miami Beach real estate. Properties of this scale and pedigree rarely surface, and when they do, they immediately become a reference point for the market.”
Architectural Grandeur and Estate Features
Stepping into the estate, visitors are greeted by a dramatic foyer defined by a double-curved grand staircase adorned with ornate ironwork. This architectural centerpiece sets the tone for a residence designed with both majesty and intimacy in mind. The interior unfolds into expansive entertainment areas, including a private theater, a billiard room, a wet bar, and multiple formal salons. High and domed ceilings throughout the home lend a sense of timeless luxury, while custom details in wood and ironwork showcase the craftsmanship that has kept this home relevant for nearly a century.
The mansion was conceived for grand entertaining, and its floor plan reflects this ethos. From lavish galas to intimate gatherings, the estate adapts seamlessly, offering both grandeur and comfort. Gonzalez added in conversation with Luxury Houses: “Every corner of this property is designed to impress. Whether it’s the theater, the entertainment lounge, or the outdoor amenities, it offers experiences that extend far beyond ordinary luxury.”
Outdoors, the grounds echo the elegance of a private resort. The landscaped gardens, framed by an estate-style driveway, lead to an expansive backyard designed for recreation and relaxation. The property includes a tennis court, an indoor racquetball court, a gym, and a private dock with direct bay access. A large swimming pool and spa overlook panoramic water views, ensuring the estate embodies the ultimate lifestyle for any discerning buyer.
SEE MORE: Modern Coastal Luxury in Naples’ Park Shore: $7.6 Million Eco-Conscious Masterpiece
Billionaire’s Row Lifestyle and Community Prestige
The address of 5940 N Bay Rd is as significant as the home itself. Billionaire’s Row has long been the most coveted corridor in Miami Beach real estate, home to international celebrities, business leaders, and cultural icons. Neighbors in recent years have included figures such as David Beckham, Jennifer Lopez, and Shakira, each drawn to the area’s unique blend of privacy, prestige, and proximity to Miami’s vibrant cultural scene.
North Bay Road also carries remarkable financial weight. Reports highlight that more than $1.7 billion in property value is concentrated along this four-mile stretch, with 24 transactions exceeding $20 million since 2020. Such numbers confirm its reputation as one of the most secure and prestigious investments in the United States.
Speaking exclusively to Luxury Houses Magazine, Gonzalez remarked: “North Bay Road is not just a place to live – it is a statement. For buyers seeking the ultimate Miami Beach home for sale, there is no other address that carries the same cultural weight and financial resilience.”
Market Context and Investment Value
At $169 million, 5940 N Bay Rd is positioned among the most expensive residential listings in America. Its valuation reflects both the scarcity of large waterfront parcels and the growing demand for ultra-luxury homes in South Florida. In comparison to other estates on the market, this home stands out not only for its acreage but also for its combination of history, privacy, and modern functionality.
The estate also highlights broader market trends. Miami Beach has become a global magnet for high-net-worth individuals, driven by tax advantages, climate, and lifestyle. With foreign investment strong and inventory limited, properties like 5940 N Bay Rd are increasingly seen as legacy assets.
Luxury Houses reached out to sources familiar with the estate’s ownership but, in keeping with the discretion common in the ultra-high-net-worth community, details remain private. This veil of exclusivity only adds to the home’s mystique, reinforcing its allure as more than just a property, but rather a piece of Miami’s living history.
Neighborhood Amenities and Lifestyle
Beyond its gates, the estate benefits from a location that merges privacy with accessibility. Just minutes away, residents enjoy the greens of La Gorce Golf Club, the luxury shopping and dining of Bal Harbour Shops, and the cultural offerings of Miami Design District. Collins Avenue and South Beach provide endless options for fine dining, nightlife, and art, while international travel is facilitated by Miami International Airport, less than 30 minutes away.
These community assets contribute to making 5940 N Bay Rd not just a home, but a complete lifestyle. For a buyer seeking both seclusion and convenience, the property delivers on every front.
Final Thoughts on Miami Beach Real Estate
5940 N Bay Rd embodies the best of home in Miami Beach for sale – a blend of historical gravitas, architectural magnificence, and a lifestyle that only Billionaire’s Row can provide. For buyers searching for a Miami Beach home for sale that represents both a residence and an enduring investment, this estate stands unrivaled.
With nearly a century of history, world-class amenities, and an address synonymous with prestige, this $169 million offering is a landmark moment for the Miami Beach luxury housing market.
For more information or to arrange a private showing, visit the official Zillow listing or contact Nelson Gonzalez – BHHS EWM Realty.
For inquiries or to schedule a private showing, please contact:
Nelson Gonzalez PA
305-674-4040
BHHS EWM Realty
* This property might not for sale at the moment you read this post; please check property status at the above Zillow or Agent website links*
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