Coral Gables Real Estate - A Taste of the Mediterranean in Florida
Just south of Miami, Coral Gables, Florida, is a city of 41,000 residents who enjoy close proximity to one of America's busiest and most culturally diverse hubs. A strong dedication to architectural aesthetics and restoration has resulted in the preservation of one of South Florida's most beautiful cities. High residential real estate values attest to the city's draw not only for new Floridians, but also for residents of Miami, many of whom are overflowing into Coral Gables to escape the comparative hustle and bustle of that much larger metropolis.
Coral Gables Vacant Lot Sold For $10.65 Million
Last month there were rumors that LeBron James, the newest addition to the NBA's Miami Heat, was trying to buy the Potamkin home, but when the Miami Herald finally spoke to Mr. Potamkin, he denied that there were any ongoing negotiations for the purchase of his mansion.
The Potamkin property was listed for $49.5 million, and remained on the market for sale for more than a year, before the listing expired, with no buyers anywhere in sight. The hefty asking price chased away any would-be buyers.
The vacant lot behind Potamkin's estate was listed for $15,700,000, and sold for a 32% discount. Although the location of the property can be said to be one of the best in Coral Gables, it pales compared to Potamkin's property, because it faces the canal and has no view to speak of.
The seller lost money on the deal. The lot was purchased in 2003 for
$10,500,000, and although it just sold for $150,000 more than that, carrying
costs, and commissions forced the seller to take a loss. The property
remained on the market for sale for 2 years and 3 months, before finally
closing on August 16.
LeBron James Tries To Buy Alan Potampkin's House in Coral Gables
The one-of-a-kind breathtaking 8 bedrooms, 11 bathrooms estate on the open bay waterfront is situated on the finest lot in exclusive, gated Gables Estates. This 20,088 square feet grandiose home boasts 800 linear feet of waterfrontage and sits on a 3.6 acres lot, with a 100 feet dock to accommodate up to a 150 feet yacht.
There is a private guest suite with a lighted tennis court and courtyard on its own acre of land. Three suites with full baths, an upstairs master suite with a full gym, a billiard and media room are just a few of the featured highlights. Luitron lighting and a 12 camera security system are installed thrughout this estate.
LeBron James, for those of you who haven't heard, is one of the NBA's finest basketball players. He announced 2 just hours ago that he is coming to Miami to play for the Miami Heat. The Miami Heat hope that LeBron will help to bring an NBA championship to the city.
A-Rod Sells His Coral Gables Home for $8,500,000
The private bayfront sanctuary features breath taking oceanfront views,
and the property offers the finest in waterfront yachting, entertaining
and living. When the New York Yankees star separated from his wife some
time ago, A-Rod, whose real name is Alex Rodriquez, moved out of the house,
and rented a home on Star Island for several months, as his Coral Gables
home remained on the market without a buyer. This week he finally sold
the home, 14 months after the property was first listed for sale. Few
people could afford to take such a huge loss on a home sale, but when
you are one of the highest paid atheletes in the world, perhaps the loss
doesn't seem quite as dramatic.
Gables Estates Coral Gables - Casuarina Concourse Estate $49 Million
Situated on a 3.5-acre lot, the spacious 20,862 square feet house, with 8 bedrooms, 11 bathrooms, and 2 half-baths, faces the open waters of Biscayne Bay, with breath taking, testimonial views of Miami’s unmatchable beauty. It is no wonder that Miami is so often referred to as the magic city.
Last week, the estate was listed for sale with a price tag of $49,500,000, making it Coral Gables most expensive home. The property juts into Biscayne Bay and is surrounded by 880 linear feet of waterfront. Attached is a 150 feet long dock to accommodate a yacht of equal length. Replete with a lighted tennis court, adjacent to a private guest suite, which sits on it’s own acre, the estate was built to satisfy those who can afford the very best in real estate.
Some additional features of this marvelous Coral Gables mansion are an upstairs master suite with a full gym, billiard and media rooms, luitron lighting & a 12-camera security system. Any takers?
A-Rod’s House In Coral Gables $11,000,000
A-Rod's house (Alex Rodriquez) Coral Gables 181 E Sunrise Avenue April 2009
A-Rod’s house in Coral Gables remains on the market for sale, after 8 months. New York Yankees star, Alex Rodriguez listed the home for sale in mid-December 2008 for $12,300,000, but quickly lowered the price to $11,000,000 after only 2 months. He purchased the property, located at 181 E Sunrise Ave, Coral Gables, FL., in 2004 for $12,000,000, and according to Dade County public records, there is a $5,500,000 mortgage attached to the home.
The mansion is one of Coral Gables’ finest, with 8,310 square feet of living area, situated on a 46,243 square feet lot, with breath taking ocean front views. The 6 bedrooms, 5 + 3 bathrooms home has been completely renovated, and is also for rent for a cool $35,000 per month.
Coral Gables Real Estate Market Value
Given Coral Gables' strong economy, the residential real estate market is thriving despite the market's asking prices, which are expensive. The average price for a single-family home (containing 3 or 4 bedrooms) ranges from $200,000 to $750,000. Smaller-sized homes aren't likely to give your budget much of a break; the average two-bedroom townhome in Coral Gables ranges from $175,000 to $300,000; and the average two-bedroom condominium will run you anywhere from $150,000 to $295,000.
Coral Gables Community
In addition to a strong local economy and progressive, diverse and educated
populace, Coral Gables offers its residents an environment in which city
developers and leaders take great care to promote the ongoing maintenance
of the city's historic structures and its surrounding landscape. As long
as all of these elements are in place, it's likely that property values
will remain high in Coral Gables. This architectural gem of South Florida
is likely to remain one of the state's strongest real estate markets well
into the 21st century.