$55 Million Waterfront Estate In Coral Gables
July 03, 2018 - Coral Gables
A Coral Gables, Fla. estate is set to go on the market for $55 million. If it sells for that price, the property would set the record for the priciest home ever sold in the city.
The record price for a Coral Gables home was set in 2017, when a home owned by Alan Potamkin of Miami-based Potamkin Companies, one of the largest automotive dealer groups in the country, sold for $43.7 million.
The $55 million home is located in a members-only gated community known as Gables Estates Club.
Prospective owners must pay a nonrefundable fee of $100,000 to apply, according to a community spokeswoman. Owners go through rigorous background checks, and security guards patrol the area by sea and by land 24 hours a day.
Overlooking a waterway leading to Biscayne Bay, the Mediterranean-style home sits on roughly 2.4 acres and totals about 16,198 square feet, with six bedrooms and 10 bathrooms in the main house. The living room has a double-height ceiling with 2 stories of arched windows.
Amenities include a movie theater, dockage for a 90-foot yacht, a four-car garage, an outdoor pool with ornate statues, a game room and two guesthouses.
One of the guesthouses is joined to the main home by a covered loggia, while another is in a separate structure.
The listing is owned by Manuel Diaz, founder of Manuel Diaz Farms, a landscaping services business.
He bought the site on which the property sits for $6.4 million in 2003. Millions was spent on landscaping, which includes over 600 different species of palms, trees, plants and flora.
blog, Estate of the Day