Pinecrest, FL Purchases Record $13.9M Estate for New Public Park

The Village of Pinecrest, Florida, has acquired a 5-acre estate from Inter Miami CF owner Jorge Mas for a record $13.9 million, with plans to transform the largest privately held residential plot in the town into a public park. Mas is donating $3.9 million of the sale price back to the municipality and will receive naming rights for the future green space, which is expected to be named for his wife, Aleyda Mas. This transaction represents a significant community investment, converting a private luxury property into a permanent recreational asset for residents.

What are the details of the Pinecrest property purchase? The sale, finalized in early 2026, sets a new record for a residential property in the South Florida town of Pinecrest. The buyer was the municipal government itself, represented by Joshua Kaufman of The Buchbinder Group at Compass. Unlike a typical private sale, the primary outcome is the creation of a new park and indoor facilities. The deal structure includes Mas's $3.9 million contribution, which effectively reduces the net cost to the village while granting him the privilege of naming the future park.

What features make this property ideal for a public park? The property's transformation into a community space is facilitated by its existing landscape design by renowned architect Raymond Jungles. The grounds already feature an impressive array of rare, exotic trees and plantings, along with trails and a lagoon. These elements will form the core of the future park, providing immediate aesthetic and environmental value. The 5-acre size offers ample room for recreational activities, making it a prime candidate for public use without the need for a complete landscape overhaul.

What structures are included on the estate? The estate includes an 11,000-square-foot main house with five bedrooms and eight bathrooms, characterized by large, open living spaces. A separate two-level building contains a wine cellar and entertainment space. The outdoor amenities include a tennis court and a swimming pool built with natural stone. Based on our experience assessment, the municipality will determine the future use of these structures, which could potentially be repurposed for community centers, administrative offices, or cultural facilities.

Who is Jorge Mas and what is the context of the sale? Jorge Mas is the chairman of MasTec, a multibillion-dollar infrastructure corporation, and a part-owner of Inter Miami CF. The sale of his personal residence aligns with a broader trend of public-private partnerships aimed at enhancing community resources. The transaction is separate from his professional sports ventures but underscores a commitment to the local area. The property was previously owned by the Montgomery family, founders of the nearby Fairchild Tropical Botanic Garden, adding to its historical significance.

The key takeaway for communities and homeowners is the potential for private property to serve a public purpose. For municipalities, identifying underutilized large estates can be a strategic method for expanding parkland. For homeowners considering a sale, exploring options with local government entities can sometimes yield outcomes that provide both financial return and lasting community legacy. The $13.9 million sale price, partially offset by a $3.9 million donation, demonstrates a flexible model for funding public projects.