A Coral Gables estate is listed at $148M, potentially setting a new Miami record, highlighting the city's thriving luxury real estate market.
A new listing in Coral Gables is turning heads in Miami's luxury real estate market. Priced at $148 million, this waterfront compound could set a new sales record for the city if sold at asking price. The property is one of five homes in Miami-Dade County currently listed at $100 million or more, as reported by the New York Post.
Located at 8901 Arvida Lane in the exclusive Gables Estates neighborhood, this estate spans 2.38 acres and features a main house designed by Rafael Portuondo. The residence boasts over 14,000 square feet, complete with six bedrooms, nine full bathrooms, and a chapel adorned with stained glass.
The listing, held by Dennis Carvajal of ONE Sotheby’s International Realty, represents a significant leap from the current Coral Gables record of $55 million. Carvajal emphasizes the scarcity of such trophy estates, noting the limited availability of properties with expansive waterfronts and privacy.
This isn't the first time the estate has been on the market. Owner Manuel Diaz previously listed it for prices ranging from $45 million to $55 million between 2017 and 2021. The current asking price is nearly triple those earlier figures, reflecting the growing demand for ultra-luxury properties in Miami.
The surge in high-priced listings is attributed to recent record-setting sales in the area, including Ken Griffin's purchase of the Adrienne Arsht estate for $106.87 million and Mark Zuckerberg's $170 million acquisition of an Indian Creek mansion. These sales underscore Miami's rising status as a global wealth hub.
For more insights into Miami's luxury real estate developments, explore our coverage of projects like The St. Regis Residences, Miami in Brickell and Villa Miami in Edgewater, which showcase the city's dynamic growth.
Interested in learning more about Miami's thriving real estate market? Connect with our advisors at salesoffice.net for expert guidance tailored to your investment needs.
