The former property of the late Charles Dascal, co-founder of the Continental National Bank, was recently sold in Miami Beach for $23 million, even though it was initially valued at over $30 million.
The iconic residence will remain in the hands of the family, thanks to the acquisition by Elizabeth Dascal, the entrepreneur's daughter, and her husband, Vladimir Spector.
The Real Deal reported that Jacqueline Dascal Chariff, trustee of her mother Fanny Dascal's estate, sold the mansion located at 1470 Daytonia Road to a company led by her sister Elizabeth.
The decision to keep the property within the family reflects the strong connection the Dascal family has to the history of this estate and to Miami Beach.
Who was the Cuban Charles Dascal?
Charles Dascal was born in Cuba on February 16, 1932. He was the only son of Antonio and Clara Dascal. He emigrated to the United States in 1961 with his wife Fanny, seeking a new opportunity in exile.
In a short time, he became one of the most prominent Cuban-American entrepreneurs in Miami, achieving milestones such as the founding of the Continental Bank of Miami in 1974, the first bank owned by Cuban-Americans in the United States.
Additionally, Dascal ventured into the automotive industry with the founding of Midway Ford, becoming the first Cuban American to obtain a Ford franchise in the United States.
Under his leadership, the family businesses expanded to include 11 new car dealerships and 7 bank branches, establishing him as a pillar of the business community in South Florida.
Charles and Fanny supported various charitable organizations such as the Jackson Memorial Foundation, St. Jude Children's Hospital, Miami Children's Hospital, and the Humane Society of Greater Miami.
Charles passed away on July 29, 2013, after a prolonged illness. He left his loved ones a legacy of innovation, philanthropy, and a deep passion for family.
The Dascal Mansion in Miami Beach: A Symbol of Success and Family Legacy
The 0.8-acre property, acquired in 1974 for $125,000, was fully reconstructed in 2008, becoming an impressive mansion of 1,300 square meters.
It features six bedrooms, eight bathrooms, a gym, a theater, a pool, a spa, and 70 meters of waterfront with two private docks.
The family initially listed the house for 36 million dollars in December 2022, although several price reductions occurred before the final transaction of 23 million dollars.
This sale adds to a thriving real estate market in Miami Beach, where figures like David and Victoria Beckham, as well as entrepreneurs such as Fashion Nova founder Richard Saghian, have made multimillion-dollar purchases recently.
Charles Dascal and his wife Fanny shared 60 years of marriage. They had four children: Jacqueline, Jonathan, Karla, and Elizabeth Dascal, who remain grounded in Miami Beach.
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