Ex-Real Housewife Flips Coral Gables Estate for $55M
Key Insights
Dr. Nicole Martin and Anthony Lopez sold a Coral Gables mansion for $55 million, just eight months after purchasing it for $34 million.
The sale ties the record for single-family home sales in Coral Gables.
The 12,500-square-foot mansion features eight bedrooms, eight bathrooms, a pool, and 225 feet of water frontage.
This is the latest in a series of high-end real estate deals in Coral Gables, indicating strength in the South Florida housing market.
Why this matters: This deal highlights the continued demand for luxury waterfront properties in South Florida and the potential for significant returns in the high-end real estate market.
In-Depth Analysis
The property, located at 33 Arvida Parkway in the Gables Estates neighborhood, was sold to Green Woods Trust, managed by Christine Hahn. Dennis Carvajal with One Sotheby’s International Realty represented the sellers, while Banna Fakhoury, also with One Sotheby’s International Realty, brought the buyer. The mansion, built in 2004, includes a game room, gym, and a 2,700-bottle wine cellar. This sale mirrors a similar $55 million off-market deal last summer in Gables Estates, reinforcing the area's appeal to affluent buyers. Other recent high-value sales in Coral Gables include a $32 million waterfront Tahiti Beach mansion and a $36 million waterfront spec estate in Old Cutler Bay, underscoring the robust luxury real estate market in South Florida.
FAQs
Q: Who are the sellers in this deal?
The sellers are Dr. Nicole Martin, former star of "The Real Housewives of Miami," and her fiancé, attorney Anthony Lopez.
Q: What is the selling price of the mansion?
The mansion was sold for $55 million.
Q: How long did the sellers own the property before flipping it?
They owned the property for eight months.
Q: Where is the mansion located?
The mansion is located in the Gables Estates neighborhood of Coral Gables, at 33 Arvida Parkway.
Key Takeaways
The South Florida luxury real estate market remains strong, particularly for waterfront properties.
Off-market deals are common in the high-end market, offering opportunities for quick and substantial profits.
Coral Gables is a prime location for luxury real estate investments.
Keep an eye on market trends and high-value sales to understand the dynamics of the South Florida housing market.
Discussion
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