Miami’s nine-digit house party just got a new guest.
asserted
party → get → guest
A waterfront compound in Coral Gables has hit the market for a stratospheric $148 million, an ask that would nearly triple the city’s sales record if met.
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that → hit → record
It is one of five single-family homes in Miami-Dade now publicly priced at $100 million or more, The Post has learned.
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Post → price → more
The spread at 8901 Arvida Lane covers 2.38 acres at the head of a lagoon in Gables Estates, a gated enclave of fewer than 200 homes and lots.
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spread → cover → homes
Dennis Carvajal of ONE Sotheby’s International Realty has the listing.
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Carvajal → have → listing
Coral Gables has never logged a home sale north of $100 million.
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Gables → log → million
The current high is $55 million, set last year elsewhere in Gables Estates.
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high → set → Estates
Carvajal is betting this one clears that bar by a mile.
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one → bet → mile
The property “will reset the market,” he told The Post.
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he → reset → Post
So what does $148 million buy?
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million → buy → ?
Start with a Rafael Portuondo-designed main house that the brokerage puts at upward of 14,000 square feet, with six bedrooms, nine full bathrooms, three powder rooms and 25-foot ceilings.
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brokerage → start → bedrooms
Inside are a wine room kept at cellar temperature, a theater, a billiards room, a pair of offices and an elevator.
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room → keep → offices
The primary suite has a terrace, its own bar and a bathroom wrapped in onyx.
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suite → have → onyx
Then come the extras.
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extras → come → ?
The estate packs a chapel fitted with stained glass, plus a guest villa with a full kitchen and a standalone gym at the water’s edge topped by a sun deck.
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estate → pack → deck
The pool is lined in mosaic tile and ringed by marble.
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pool → line → marble
Out back, 245 feet of shoreline and an 86-foot dock offer a straight shot to Biscayne Bay with no bridges to duck under.
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feet → offer → bridges
More than 600 species of palms, trees and plants cover the lot, which tracks with the seller’s day job.
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which → cover → job
The owner has been identified as Manuel Diaz, founder of Homestead nursery Manuel Diaz Farms.
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owner → identify → Farms
The property tax bill alone ran $260,235 last year, per the listing.
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bill → run → listing
Diaz sought $45 million in 2017 and $55 million a year later, then tried $48.5 million in 2020 and $52 million in 2021 before pulling it in 2022.
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Diaz → seek → 2022
What changed is the ceiling.
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changed → change → ?
In 2022, Ken Griffin made the Adrienne Arsht estate on Brickell Avenue set a record at $106.87 million.
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estate → make → million
This March, Mark Zuckerberg and Priscilla Chan paid $170 million for an unfinished Indian Creek mansion, a new county high.
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Zuckerberg → pay → mansion
“A few years ago, we rarely saw homes even testing a $100 million price point,” Carvajal told The Post.
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Carvajal → see → Post
Topping the pile is a $237 million Key Biscayne estate whose listing touts its turn as Frank Lopez’s house in “Scarface.”
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listing → top → Scarface
A two-home compound on the Sunset Islands is asking $110 million, as is a 1.61-acre bayfront property on Brickell Avenue.
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property → ask → Avenue
A new build on North Bay Road with an 18-car garage wants an even $100 million .
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build → want → million
A sixth contender has already blinked.
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contender → blink → ?
John Ruiz’s $175 million mansion, also in Gables Estates, appears to have come off the market, according to The Real Deal.
uncertain
mansion → appear → Deal
Carvajal’s camp pegs the current tally at a 500% jump from 2022 and says it undercounts the action, since estates at this level are often shopped privately before any public listing.
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estates → peg → listing
The broker chalks it up to supply.
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broker → chalk → supply
“It’s the scarcity effect,” he said.
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he → ’ → ?
He doesn’t see it cooling off.
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it → see → ?
“Miami is only going to become more important as a global epicenter for wealth,” Carvajal said.
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Carvajal → go → wealth
“We’ve already seen an enormous amount of capital move here, and the demand has not stopped.
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demand → see → capital
The ultra-wealthy aren’t just looking for a great house anymore.
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wealthy → look → house
They want compounds with multiple combined lots, more land, more waterfront and complete privacy.
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They → want → lots
“I think we’ll continue to see records broken because there simply aren’t enough of those properties to meet the demand,” he added.
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he → think → demand
But these figures only tell one story.
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figures → tell → story
…and 2 more, not listed.
The Aporia
