The former estate of the late Charles Dascal, co-founder of the Continental National Bank, recently sold in Miami Beach for $23 million, despite an initial valuation of over $30 million. This iconic residence remains within the family, thanks to the purchase by Charles's daughter, Elizabeth Dascal, and her husband, Vladimir Spector. According to The Real Deal, Jacqueline Dascal Chariff, trustee of her mother Fanny Dascal's estate, sold the mansion located at 1470 Daytonia Road to an entity led by her sister Elizabeth.
This decision to keep the property in the family underscores the Dascal family's strong connection to the mansion and to Miami Beach itself.
Charles Dascal: A Cuban Visionary in Exile
Born in Cuba on February 16, 1932, Charles Dascal was the only child of Antonio and Clara Dascal. He emigrated to the United States in 1961 with his wife, Fanny Dascal, seeking new opportunities in exile. In a short period, he emerged as one of Miami's most prominent Cuban-American entrepreneurs, achieving milestones like founding the Continental Bank of Miami in 1974, the first Cuban-American-owned bank in the United States.
In addition to banking, Dascal ventured into the automotive industry by establishing Midway Ford, becoming the first Cuban-American to own a Ford franchise in the U.S. Under his leadership, the family businesses expanded to include 11 new car dealerships and seven bank branches, solidifying his status as a pillar of the South Florida business community.
Charles and Fanny were also noted philanthropists, supporting 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 long illness, leaving behind a legacy of innovation, philanthropy, and family devotion.
Dascal's Miami Beach Mansion: A Testament to Success and Family Heritage
Originally purchased in 1974 for $125,000, the 0.8-acre property underwent a complete transformation in 2008, becoming a grand mansion spanning 1,300 square meters. It boasts 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 in December 2022, but several price reductions led to the final transaction at $23 million. This sale contributes to Miami Beach's booming real estate market, where celebrities like David and Victoria Beckham and entrepreneurs such as Fashion Nova's founder Richard Saghian have recently made multimillion-dollar purchases.
Charles and Fanny Dascal shared 60 years of marriage, nurturing a family of four children: Jacqueline, Jonathan, Karla, and Elizabeth Dascal, all of whom maintain their roots in Miami Beach.