Updated Sep 9, 2024
Philanthropist Bunny Bastian's Florida Waterfront Estate Sold For $36M In Coral Gables
140 Arvida Pkwy Coral Gables, FL 33156, USA
$36,000,000
$3,136/SF
Building Size
11,478 SF
Asset Type
Single Family Residence
Closing
Aug 23, 2023
About this deal
AI
A waterfront estate in Coral Gables, Florida has been sold for $36 million in a teardown transaction. The property, located at 140 Arvida Parkway, spans over 1.54 acres and offers stunning bay views. The buyer intends to build a new home on the prestigious Gables Estates community, taking advantage of the scenic surroundings.
Summary of transaction details
- Property Type: Single Family Residential (SFR)
- Transaction Amount: $36,000,000
- Address: 140 Arvida Parkway
- Market: Coral Gables
- Size: 11,478 square feet
- Price per Square Foot: $3,136
- Buyer's Representative: Judith Zeder - Coldwell Banker
- Seller's Representative: Liz Hogan - Compass
Judith Zeder from Coldwell Banker represented the buyer in this transaction, while Liz Hogan from Compass acted as the seller's representative. The deal was facilitated smoothly, allowing the buyer to acquire the property and proceed with their plans to construct a new home. The purchase of this valuable waterfront estate showcases Bunny Bastian's strategic decision to realize its potential by leveraging the surrounding bay views and the prestigious Gables Estates community.
Players
Miami Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $3.1K per square foot on a published $36M for 11,478 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93