University of Miami booster John Ruiz has put his waterfront mansion in Gables Estates on the market for $175 million, making it the second most expensive residential listing in Miami-Dade County. Ruiz, who is the founder and CEO of Coral Gables-based MSP Recovery, bought the 2.2-acre property at 600-620 Arvida Parkway for $46 million in 2020 and is now seeking nearly four times that amount.
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 listing also notes amenities such as a panic room and backup generators. The tropical modern mansion was originally built in 2017 and expanded in 2022 with design by architect Cesar Molina.
The property includes 335 feet of water frontage and is being marketed by Alex Pirez of Mocca Realty. Pirez also handled the previous sale to Ruiz.
Ruiz’s company MSP Recovery was recently the subject of a three-year Securities and Exchange Commission (SEC) investigation concerning its projected financial results to investors. According to reporting from the Miami Herald in late September, “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 the Cigarette Racing Team brand in 2021.
Realtor.com lists this Gables Estates property as the fifth most expensive home currently for sale in Florida.
Gables Estates is among several waterfront neighborhoods in Miami that have seen significant growth in ultra-luxury sales. Last year, Alex Pirez sold his own waterfront mansion at 340 Leucadendra Drive for $55 million—a record-setting home sale for Coral Gables at that time. Additionally, billionaire Jorge Mas recently purchased a mansion within Gables Estates on Casuarina Concourse for $75 million.
