Most Expensive Coral Gables Homes Sold (So Far) in 2013

With the pendulum swinging in a new direction, Coral Gables real estate is selling at a much faster pace.  This includes the high-end luxury homes in Coral Gables’ exclusive gated communities.  Following are the most expensive Coral Gables homes sold (so far) in 2013:

For Sale in Gables Estates

400 Arvida Parkway, Gables Estates, Sale Price:  $11,500,000

Originally listed for sale in 2011 (not a great time for homes of this caliber), this 13,849 square foot home finally sold in March.  We featured in a January blog as the second most expensive home on the market at that time.  This spectacular gated home features the most exquisite details throughout the entire home.  It is situated on deep and wide canal emulates a European chateau.  In addition, the home offers its owners 180 feet of seawall with direct access to Biscayne Bay which is ideal for mega-yachts.  The entire estate is breath-taking and has a wonderful interior with huge kitchen, tons of living space, and eight bedrooms, 13 baths.  After being listed and removed from the market then re-listed again, it took 322 days to sell the home.

660 Arvida Parkway, Gables Estates, Sale Price:  $9,800,000

This beautiful estate in Gables Estates sold after 428 days on the market. The 6,512 square foot home is situated on 1.1 acres offers its owners the most unbelievable water views. From high ceilings to a wonderful and enormous gourmet kitchen, five bedrooms and seven baths, it is easy to see why this home sold.  The understated elegance abounds.  Outside, the over-sized  resort-style pool sits adjacent to a phenomenal outdoor living area and canal frontage with a seawall and dock with lift.  For yacht owners, this area of Gables Estates offers ocean access with no fixed bridges and open access to Biscayne Bay.  The list goes on in terms of details, fixtures and finishes all without being ostentatious or overdoing it. 

555 Arvida Parkway, Gables Estates, Sale Price:  $7,000,000

Gables Estates is probably Coral Gable’s most exclusive neighborhood and inside is this beautiful Mediterranean style masterpiece.  This 8,500 square foot home sits on a large canal and features a large sea wall and dock that accommodated large yachts and provides easy access to Biscayne Bay and ultimately the Atlantic Ocean.  In addition, there is a perfectly landscaped lawn that surrounds the home and showcases a beautiful over-sized pool.  Inside the home, the living area is open and features beautiful fixtures and finishes expected in a home like this one.  On the market for just a little over seven months, this home sold in 236 days. 

For Sale in Old Cutler Bay

9345 Balada Street, Old Cutler Bay, Sale Price:  $6,700,000

On the market a little over four months, it is no wonder that a home at this level sold so quickly.  Not only is it a Smart home,built in 2006, it is a home that offers details such as beautiful stone and wood flooring, expansive sliding glass walls that open to the dramatic outside, an infinity pool, home theater, two offices, a gym, wine cellar, marvelous gourmet kitchen; private baths in all seven bedrooms. Situated on the water, the trip into the bay is a very short boat ride and makes for phenomenal days on the water.  There is nothing better than this home.  It is the perfect home for families. 

190 Casuarina Concourse, Gables Estates, Sale Price:  $6,172,000

The new owners of this estate spent almost $6.2 million for a main residence with three bedrooms and four and a half bath in addition to a guest house with one bedroom, one bath.  It is a classic Florida waterfront estate with walls of glass showcasing amazing water views and elegant backyard.  One of the best highlights of this gorgeous home is the open-wood beamed ceilings that are elegant and understated.  Other bonuses are the large gourmet kitchen, salt water swimming pool, private dock, lift and 200 feet of seawall.  The canal is wide goes out into open water accommodating large yachts as there are no fixed bridges and easy access to the Bay and the Atlantic. 

More Estates Hitting the Market

The most interesting thing to note is that while a couple of these homes stayed on the market for a bit of time and others sold a little quicker, more estates are hitting the market with much higher list prices.  Coral Gables real estate is filled with gorgeous gated neighborhoods that are home to many beautiful estates and tons of opportunities to buy there. 

Top Five Coral Gables Waterfront Properties under $2 Million

Waterfront property is very popular in South Florida especially with boaters.  It is not uncommon to see yachts and boats of all sizes out on the waterways – Biscayne Bay, canals leading to the Bay as well as the Intracoastal Waterway and area rivers – all the time.

With property that lines the waterways, many of the enormous estates have elaborate and sophisticated docks that accommodate mega yachts and multiple vessels as well as lifts.  In Coral Gables, waterfront property comes at a premium.  The closer you are to the Intracoastal Waterway, the more expensive the property.  But, it is still possible to invest in Coral Gables real estate on the waterfront without breaking the bank.  Following are top five Coral Gables waterfront properties under $2 million:

For Sale in Gables Country Club

4735 Orduna Drive, Coral Gables Country Club, List Price:  $1,999,000

One of the best features in classic “old Florida” style homes like this one is the character it has.  Built in 1957, this canal home has have details that are not seen as often in newer homes.  From the Mission-style barrel clay roof tiles to the contemporary style of the era and open floor plan made for living, this is a wonderful and large home with five bedrooms, four baths, and office in addition to a huge gourmet kitchen with granite counter tops, tons of cabinet space, and two dishwashers.  The master suite is large and has a private bath with marble floors, granite counter tops and more.  The outdoor living area looks over the gorgeous pool and backyard adjacent to a great dock and unobstructed panoramic water views and a prime place to watch the manatees and dolphin swimming in the tranquil canal waters.

For Sale in Gables Riviera

825 South Alhambra Circle, Coral Gables Riviera, List Price:  $1,995,000

Upon entering this home, the first word uttered is definitely “WOW!”  It is an amazing architectural masterpiece.  Built in 1940, it has so many exquisite details that guests simply want to sit and stare.  It is a Mediterranean-style home situated on slightly over a half-acre landscaped lot and features 192 feet of waterfront on the Mahi Canal.  Boaters have direct access to the Bay with only one fixed bridge that accommodates vessels up to 12 feet.  Inside this home exudes so much elegance with stone, tile and hardwood floors, gorgeous wood-beamed ceilings and so much more.  Outside, there is a gracious living area that surrounds an inviting pool with tropical landscaping all around.  The enormous gourmet kitchen features granite counter tops, custom cabinetry, and more.  There is also a beautiful family room with all of the details seen throughout the house.  The master and five other bedrooms are large and wonderful places to squirrel away for “alone time.”  There is no doubt that how spectacular this home is.

For Sale in Gables by the Sea

951 Bella Vista Avenue, Gables by the Sea, List Price:  $1,950,000

Moving further south to the gated community of Gables by the Sea showcases a couple of waterfront homes including this gorgeous home offering quick and direct access to the Bay with NO bridges.  This home’s layout is easy and flows well creating a calm atmosphere.  Built in 1968, it has the classic “old Florida” style with modern updates.  With over 3,600 square feet, it features two master suites (one located on the first floor and the other on the second floor).  Upstairs bedrooms overlook the waterway, pool and beautifully landscaped backyard.  Also included are extra rooms ideal for a home gym, maid’s quarters, home office or any other ideas.  The outdoor living area is very private and the perfect place to spend time in the Florida sunshine. 

13040 Nevada Street, Gables by the Sea, List Price:  $1,795,000

Originally built in 1961, this Gables by the Sea home is just under 3,000 square feet with three bedrooms and three baths.  It exudes contemporary luxury with recent remodeling of the open and split floor plan.  The large kitchen is sleek with stainless steel appliances making it ideal for anyone who loves to be in the kitchen.  Other details include a large family room off the kitchen, a lovely living and dining room as well as an extra room that is perfect for a fourth bedroom or home office.  Outdoors, there is a fantastic and private pool along with 80 feet of waterfront with no bridges and easy, direct access to the bay. The best part of this home is that it is listed turn-key and has a brand new roof in addition to impact resistant windows and doors, and a two and a half car garage. 

For Sale in Gables Country Club

4706 Granada Boulevard, Coral Gables Country Club, List Price:  $1,745,000

Where do we start on this home?  It is amazing and big but not in an obtrusive kind of way.  It is simply a spectacular home with all the bells and whistles that make it unbelievable.  First of all, we cannot wait to talk about the mother of all walk-in closets in the master suite with shelves, glassed cabinets, drawers and places to hang clothing.  It is a dream closet.  From there, the eat-in kitchen features tons of granite counter top space with an island, stainless steel appliances and updated custom cabinetry.  The next thing is the fabulous outdoor living area with full outdoor kitchen (oven, dishwasher, and gas burners), large pool and panoramic canal views.  There is a dock on the canal that provides bay access with a few fixed bridges that accommodate vessels up to 10 feet.  With five bedrooms and four and a half baths under over 5,000 square feet, this is a perfect home for a large family. 

                                                                           

Waterfront Homes throughout Coral Gables

While there are waterfront homes throughout Coral Gables, they are premium properties with premium price tags.  Knowing that waterfront property under $2 million is a possibility is very promising to many buyers.  Check out the waterfront homes (and condos) in Coral Gables.  They are beautiful and make living in this part of Florida a lot more fun.

Midtown Lofts Miami

Named Midtown Lofts Miami, this piece of Coral Gables real estate is a boutique condominium built in 2006  with 14 stories and only 99 residences of which 85 are loft residences and 14 are traditional condominium units.  While it is often billed as a ‘Miami’ loft condominium and sits at the edge of Miami, it has a Coral Gables address.  As for location, it offers a straight shot to Coral Gables, Coconut Grove and Brickell.  It is just as close to Coral Gables’ Miracle Mile as it is to Brickell or the up and coming Design District with other popular areas in South Florida being just a short drive away.

As a well-sought after address in Miami and Coral Gables, Midtown Lofts was designed by Cohen, Friedman and Encinosa.  Other recognizable area condominiums from Cohen Friedman and Encinosa include Gables Marquis in Coral Gables, the  Mutiny and Grove Isle in Coconut Grove, and Related Lofts in Miami just to name a few. 

Midtown Lofts Miami Amenities

Midtown Lofts Miami is a wonderful place to live with so much to offer its residents.  Not only does it have a primo location, it features everything from a fitness center with sauna, an outdoor pool with pool deck off the fifth floor, enclosed parking as well as building and parking access controls to a relaxation garden, concierge and 24-hour security. 

Inside each residence, there are open floor plans ranging from 633 to 1300 square feet, ceilings rise up to 10 feet and floor to ceiling sliding glass doors that open up to nice balconies with beautiful city and water views.  The kitchen is open and welcoming with granite counter tops, stainless steel appliances, European cabinets, and more.  A great bonus is that all of the two-bedroom units have wine coolers in the kitchen.  In addition to the lofts and traditional condominium residences, there are also two-story townhome lofts available.

Real Estate at Midtown Lofts

As for real estate, Midtown Lofts is one of Miami/Coral Gables’ sought after condominiums.  It offers affordable and gorgeous Coral Gables real estate is ideal for first time buyers and vacation home owners alike.  In addition, these are excellent real estate investments because of their affordability.  List prices for the eight units currently for sale range between the low-$100s for a studio and mid-$400s for a two-bedroom unit.

So far, in 2013, five units have sold between the low-$100s and mid-$200s.  When looking at the average number of days on the market, average for these five properties is 209 days but that includes one property that took over 960 days to sell.  By taking that one out of the mix, the average dropped to only 20 days – less than a month. 

In terms of Coral Gables rental properties, investors can expect to receive $1,500 to around $2,500 per month for rental rates.  This makes for an excellent investment property as the community is more affordable than others around it.

Close to Everything

Not only do the Midtown Lofts offer an open and contemporary loft to call home, the condominium is close to everything.  Living here allows easy access to pretty much every popular area in South Florida.  This is a great, great place to live.    

Gables Country Club

Gables Country Club is a very established and beautiful neighborhood in Coral Gables.  Situated in the heart of the Gables, it has a Mediterranean feel where tile roofs, awnings and intricate interior details not found in today’s newly constructed homes.  While the list prices range in a broad spectrum, it is very realistic to by a beautiful home in Gables Country Club for under $1 million.  Here are the top five Gables Country Club homes priced under $1 million:

For Sale in Gables Country Club

3226 Riviera Drive, List Price: $999,000

The location of this home is ideal as it is only a half block from the Biltmore Golf Course.  It features four bedrooms and four baths under about 2,640 square feet.  It features a wonderful and large kitchen with stainless steel appliances and glass front kitchen cabinets. Some of the unique details include a hardwood floors, Cuban tile, a courtyard with small pond, and a wonderful backyard area.  While the home had additions in the 1980s, it is in need of some work.  Because the location is so spectacular, another option is to build a new home on this perfect 1/3-acre lot.

4220 Alhambra Circle, List Price:  $899,000

This fantastic home in Gables Country Club is surrounded by a privacy wall and gorgeous mature landscaping.  It has so much character inside and out.  The rooms are large and open with lots of details.  There is a large gourmet kitchen with granite of counter space, stainless steel appliances including a double oven, and tons of cabinets.  There is a perfect courtyard to sit and enjoy the beautiful Florida sunshine.  It is located on a quiet street that is close to great schools and top golf courses.   With four bedrooms and three and a half baths under 3,100+ square feet, it is perfect for a growing family.

921 University Drive, List Price:  $775,000

‘WOW’ is the word for this Gables Country Club home built in the 1950s.  It has amazing fixtures and finishes inside and out that give it so much character.  Inside the ranch style home features high wood beam ceilings and tile floors throughout the rooms, and large windows and glass doors that showcase natural light.  The large kitchen has been newly updates with stainless steel appliances, custom cabinets, a nice-size wine rack and lots of space to create gourmet meals.  There are four bedrooms and three baths in the 2,900+ square foot home that is situated on just over a ¼-acre lot with tons of mature and tropical landscaping.  The location is perfect as it is very close to the Biltmore Golf Course and just a short drive to the Miracle Mile.  With four bedrooms and three baths not to mention the large lot and top schools nearby, this is an ideal home for families. 

413 Fluvia Avenue, List Price:  $750,000

A classic Florida-style home this is an unbelievable home situated just short drive from everything including Coconut Grove, the Miracle Mile, the University of Miami.  Inside, the home has a wonderful layout with hardwood floors throughout the entire home and large rooms that are great for entertaining.  Built in in 1951, there are three bedrooms, two baths and a great kitchen in which cooks can easily move around and prepare excellent feasts.   Outside, there is a large pool with Jacuzzi as well as two stay areas where everyone can enjoy the Florida sunshine.  The home is surrounded by beautifully manicured landscaping.  This is simply a perfect home on a perfectly quiet street that is close to everything – what everyone wants!

Gables Country Club Homes For Sale

423 Candia Avenue, List Price:  $745,000

This is an absolutely lovely home built in 1926 with a Spanish-style architectural design.  It has all the charm and detail for which a home of this era is known.  From the front porch that leads from the carport to the living room with wood beam cathedral ceilings and fireplace to the large master suite with several closets (yes several) and master bath, this home has so much character throughout the entire home.  The backyard is large and features a small cottage with an open floor plan and newer bath to be used as a guest house or mother-in-law quarters.   Because it is a dated home, the home needs a little TLC to bring it to the glory of days gone by but the location close to everything in Coral Gables as well as surrounding areas makes it well worth the effort. 

The Heart of the Gables

Living in Gables Country Club is living in the heart of the Gables.  Close to most every part of Coral Gables, it is a neighborhood filled with residents who love where they live and take to preserve the character and atmosphere.  There is nowhere else in the area where you can find such wonderful homes with such attention to detail as in these “old Florida” bungalow and Spanish mission-style homes.  No wonder it is such a well-sought after area of the Gables and South Florida.