John Backus, the tech titan known for co-founding Cognito, made a notable splash in Miami’s real estate scene when he purchased an ultra-modern waterfront estate in 2022 for $13 million. He acquired the property from Francis Milon, a former nightclub mogul, after moving from San Francisco to Miami. The transition marks part of a broader trend of tech executives migrating to South Florida, attracted by the region’s booming tech scene, no state income tax, and lifestyle offerings.
Backus’s Miami mansion boasts five bedrooms and seven bathrooms, spread over 6,400 square feet. Built with an emphasis on blending indoor and outdoor spaces, the home offers an oasis of serenity and luxury.
Notably, it sits on a prime waterfront lot, with 98 feet of water frontage, making it a perfect spot for boating and enjoying stunning western bay views. The sleek, modern architecture is complemented by spacious entertainment areas, a rooftop deck, a gym, and an inviting infinity-edge pool, ideal for the quintessential Miami lifestyle.
The property is listed for $15.9 million as of September 2024, signaling a significant appreciation from its original purchase price, reflecting Miami’s surging real estate market. This appreciation is a testament to the area’s growing allure among high-net-worth individuals, particularly those in the tech industry. The luxurious estate is located in one of the city’s most coveted neighborhoods, providing privacy while being just minutes away from Miami’s top attractions, restaurants, and nightlife.
Backus’s decision to list the home highlights his ongoing involvement in real estate and tech investments, but it also reflects a potential shift in his residential needs or strategic financial planning. As the Miami real estate market continues to flourish, particularly with demand for waterfront properties surging, this high-profile listing is expected to attract considerable interest. The combination of design excellence, prime location, and Miami’s broader appeal ensures this estate will remain a coveted property on the market.