The property asset involved in this transaction is a waterfront mansion located at 41 Arvida Parkway, Coral Gables. This single-family residence spans 18,963 square feet and is situated on 1.2 acres. It has been listed for a price of $54,900,000, with a price per square foot of $2,895.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $54,900,000
• Address: 41 Arvida Parkway
• Market: Coral Gables
• Acres: 1.2
• Bedrooms: 8
• Broker Representatives: Eddy Martinez & Roland Ortiz - One Sotheby’s International Realty

The buyer, Abel Makkonen Tesfaye, known as The Weeknd, is in the process of purchasing the property from the seller, Steven Lempera. The estate features amenities such as a pool, hot tub, outdoor kitchen, and dock, providing a luxurious lifestyle complemented by its prime location in Gables Estates.