Jose Mas Of MasTec Acquires 1 Acre Development Site In Coral Gables For $14.9M
9175 Arvida Drive
$14,900,000
Building Size
—
Asset Type
Development Site
Closing
Apr 29, 2026
AI
A 1-acre development site located at 9175 Arvida Parkway in Coral Gables, specifically in Gables Estates, has been sold for $14,900,000. This transaction emphasizes the ongoing activity in Miami's high-end residential market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $14,900,000
- Buyer: Jose Mas - MasTec & Inter Miami
- Seller: Humberto Ramirez
- Buyer's Representative: Roxanna Urban - One Sotheby’s International Realty
- Seller's Representative: Eddy Rengifo - Avanti Way
- Date of Sale: 04/29/2026
Jose Mas's acquisition plans include developing a new luxury mansion on the site, indicating strong interest from affluent buyers in premier enclaves such as Coral Gables.
Players
Coral Gables Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93