Some properties carry a single story. This one carries two, each powerful enough to define a listing on its own. The estate at 485 W. Matheson Drive on Key Biscayne served as part of President Richard Nixon’s Winter White House compound in the 1970s, then entered cinematic history a decade later as the lavish residence of drug lord Frank Lopez in the 1983 film ‘Scarface,’ starring Al Pacino. Now, with an asking price of $237 million, the 2.38-acre waterfront compound is available for the first time in over two decades, offering a buyer 862 feet of direct Biscayne Bay frontage and a narrative no other residential property in America can match.
The estate is listed by Jill Eber of Coldwell Banker Realty.
From the Winter White House to the Silver Screen
The property’s first chapter of significance began in the late 1960s, when the surrounding compound became Nixon’s preferred retreat during his presidency. A helipad built specifically for Marine One arrivals and departures still extends into Biscayne Bay, a physical remnant of the era when decisions shaping American foreign policy were discussed on these grounds. Nixon’s original bungalow was demolished in the early 2000s, but the helipad remains, a functional artifact of presidential history.
The existing residence was built around 1981 by pilot Roberto Striedinger. Just two years later, the home achieved a second form of cultural permanence when director Brian De Palma selected it as the setting for Frank Lopez’s waterfront mansion in ‘Scarface.’ The film’s imagery, from the dramatic approach over Biscayne Bay to the semicircular stainless steel and glass elevator, became iconic. Four decades on, that elevator and numerous original architectural details remain intact, including wall-mounted fixtures in saturated shades of green, orange, and yellow that are still visible from the 1983 production.
862 Feet of Irreplaceable Waterfront
The residence spans approximately 13,000 square feet across three levels, offering five bedrooms, more than seven bathrooms, and a gym convertible to a sixth bedroom. Soaring ceilings exceeding 24 feet, marble floors, and full-height glass walls orient virtually every room toward unobstructed views of the Miami skyline and open bay.
Living, dining, and kitchen areas open to expansive terraces, creating seamless indoor-outdoor flow calibrated for both daily comfort and grand-scale entertaining. The scale of the interiors reflects the era in which the home was conceived: generous, theatrical, and unapologetically bold.
Grounds Built for Spectacle and Serenity
The exterior grounds lean into the property’s theatrical character while maintaining genuine livability. A piano-shaped saltwater swimming pool curves along the waterfront, flanked by lush tropical landscaping, a cabana bath, and expansive lawn areas with artfully integrated lighting that extends the estate’s atmosphere well past sunset.
The private marina represents one of the property’s most strategically valuable features. Equipped with rare 3-phase power and dockage for yachts up to 200 feet, it is complemented by over 34,000 square feet of submerged land, an asset class that is virtually impossible to replicate under current regulatory conditions. Combined with the still-operational presidential helipad, the estate offers a level of maritime and aerial access that places it in a category of its own among South Florida waterfront holdings.
A Trophy Acquisition Two Decades in the Making
Current owner and investor John Devaney first encountered the property in 2003 during a helicopter lesson, spotting the massive helipad jutting into the bay below. Having recently acquired a Sikorsky S-76 helicopter and a yacht, he saw an immediate use for the landing pad, touched down, knocked on the door, and struck a deal: $15 million for the home and an additional $15 million for several neighboring parcels. Devaney and his family moved in by 2007, and he has taken a preservation-minded approach to updates, maintaining many of the original details that connect the home to its ‘Scarface’ legacy.
With his children now grown and plans to spend more time traveling between residences in Miami, Vero Beach, and the Bahamas, Devaney has decided the moment is right to pass the property along.
Key Biscayne and the New Trophy Market
The listing arrives during a period of unprecedented activity at the top of Miami-Dade County’s luxury market. Earlier this year, Mark Zuckerberg paid $170 million for an estate on nearby Indian Creek Island, setting a local record and confirming the region’s status as a destination for the world’s highest-net-worth buyers. At $237 million, the Matheson Drive compound would surpass that benchmark by a significant margin and could rewrite expectations for what South Florida waterfront commands at the trophy level.
With nearly three football fields of bay frontage, presidential and cinematic provenance, a functional marina and helipad, and a regulatory environment that makes replicating such a property effectively impossible, the estate occupies a category that extends well beyond conventional real estate valuation.
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