Coral Gables Real Estate - A Taste of the Mediterranean in Florida

Coral Gables Homes

Coral Gables Condos

Coral Gables MLS

Coral Gables real estate features some of its finest homes in Gables Estates, a community consisting of 192 lots. With easy access to Miami International Airport, the University of Miami, Biscayne Bay and the City of Miami, Coral Gables is one of South Florida's finest communities.

Just south of Miami, Coral Gables, Florida, is a city of 41,000 residents who enjoy close proximity to one of America's busiest and most culturally diverse hubs. A strong dedication to architectural aesthetics and restoration has resulted in the preservation of one of South Florida's most beautiful cities. High residential real estate values attest to the city's draw not only for new Floridians, but also for residents of Miami, many of whom are overflowing into Coral Gables to escape the comparative hustle and bustle of that much larger metropolis.

Gables Estates Coral Gables - Casuarina Concourse Estate $49 Million

April 2009
11 Casuarina Concourse in Gables Estates, Coral Gables Florida - Alan Potamkin's House
Gables Estates Coral Gables, one of Miami's loveliest communities, is an area with ultra-luxurious homes nestled in a neighborhood of 192 properties, and is home to former Miami Heat coach Pat Riley. Entering the guard-gated, exclusive community of Gables Estates, via Casuarina Concourse, and driving all the way to the very end of the peninsula, passing some of the most beautiful homes in Florida, one finds him/herself in front of, perhaps the most grandiose property in all of Coral Gables, 11 Casuarina Concourse, home of Alan Potamkin.

Situated on a 3.5-acre lot, the spacious 20,862 square feet house, with 8 bedrooms, 11 bathrooms, and 2 half-baths, faces the open waters of Biscayne Bay, with breath taking, testimonial views of Miami’s unmatchable beauty. It is no wonder that Miami is so often referred to as the magic city.

Last week, the estate was listed for sale with a price tag of $49,500,000, making it Coral Gables most expensive home. The property juts into Biscayne Bay and is surrounded by 880 linear feet of waterfront. Attached is a 150 feet long dock to accommodate a yacht of equal length. Replete with a lighted tennis court, adjacent to a private guest suite, which sits on it’s own acre, the estate was built to satisfy those who can afford the very best in real estate.

Some additional features of this marvelous Coral Gables mansion are an upstairs master suite with a full gym, billiard and media rooms, luitron lighting & a 12-camera security system. Any takers?

A-Rod’s House In Coral Gables $11,000,000

A-Rod's house (Alex Rodriquez) Coral Gables 181 E Sunrise Avenue April 2009

A-Rod’s house in Coral Gables remains on the market for sale, after 8 months. New York Yankees star, Alex Rodriguez listed the home for sale in mid-December 2008 for $12,300,000, but quickly lowered the price to $11,000,000 after only 2 months. He purchased the property, located at 181 E Sunrise Ave, Coral Gables, FL., in 2004 for $12,000,000, and according to Dade County public records, there is a $5,500,000 mortgage attached to the home.

The mansion is one of Coral Gables’ finest, with 8,310 square feet of living area, situated on a 46,243 square feet lot, with breath taking ocean front views. The 6 bedrooms, 5 + 3 bathrooms home has been completely renovated, and is also for rent for a cool $35,000 per month.

Coral Gables Florida

Coral Gables Real Estate - Arial View

Coral Gables Real Estate Market Value

Given Coral Gables' strong economy, the residential real estate market is thriving despite the market's asking prices, which are expensive. The average price for a single-family home (containing 3 or 4 bedrooms) ranges from $200,000 to $750,000. Smaller-sized homes aren't likely to give your budget much of a break; the average two-bedroom townhome in Coral Gables ranges from $175,000 to $300,000; and the average two-bedroom condominium will run you anywhere from $150,000 to $295,000.

Coral Gables Real Estate - Colonnade Hotel

Coral Gables Community

In addition to a strong local economy and progressive, diverse and educated populace, Coral Gables offers its residents an environment in which city developers and leaders take great care to promote the ongoing maintenance of the city's historic structures and its surrounding landscape. As long as all of these elements are in place, it's likely that property values will remain high in Coral Gables. This architectural gem of South Florida is likely to remain one of the state's strongest real estate markets well into the 21st century.
by Courtney Ronan
Courtney Ronan is a freelance writer who contributes a weekly column profiling various communities. She also writes a weekly review of real estate related web sites. Courtney's career in journalism has included recent stints as managing editor of Agent News and as associate editor of Texas Business magazine.