University of Miami supporter John Ruiz has listed his waterfront mansion in Gables Estates for $175 million, making it the second highest-priced residential listing in Miami-Dade County. Ruiz, who is the founder and CEO of MSP Recovery based in Coral Gables, purchased the 2.2-acre property at 600-620 Arvida Parkway for $46 million in 2020.
The estate spans nearly 15,000 square feet and features 10 bedrooms, 14 bathrooms, two half-baths, a two-bedroom guest house, staff quarters, gym, spa, salon, speakeasy lounge, wine cellar, eight-car garage, pool and dock. The home also includes a panic room and backup generators. Built in 2017 and expanded in 2022 with design by architect Cesar Molina, the property offers 335 feet of water frontage.
Mocca Realty’s Alex Pirez is handling the sale; he also brokered Ruiz’s original purchase of the property.
Ruiz’s company was previously investigated by the Securities and Exchange Commission over 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.”
In addition to his business activities, Ruiz has invested millions endorsing University of Miami student athletes. He also acquired Cigarette Racing Team brand in 2021.
This listing is currently ranked as the fifth most expensive residential property on the market in Florida according to Realtor.com.
Gables Estates has seen increased activity among high-end buyers recently. Last year Alex Pirez sold his own waterfront mansion at 340 Leucadendra Drive for $55 million—a record for Coral Gables home sales at that time. Billionaire Jorge Mas also bought a mansion within Gables Estates on Casuarina Concourse for $75 million.
