Updated Oct 3, 2025
The Weeknd Under Contract To Buy Coral Gables Mansion From Steven Lempera For $54.9M
41 Arvida Parkway
$54,900,000
$2,895/SF
Building Size
18,963 SF
Asset Type
Single Family
Closing
Oct 3, 2025
About this deal
AI
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.
On the Map
$54,900,000
$2,895/SF
Single Family
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Players
Miami Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $2.9K per square foot on a published $54.9M for 18,963 square feet (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93