Gables Estates Billion-Dollar Flip | Real Estate News

A waterfront gem in Coral Gables’ ultra-exclusive Gables Estates just sold for $41.6M — a move that’s raising eyebrows after the seller reportedly paid $38M just two years ago, then spent millions on demolition and taxes, possibly losing money on the flip. While this is a major deal, it’s dwarfed by a $55M mansion sale earlier this year and the rumored $400M listing of a nine-acre estate owned by healthcare billionaire Mike Fernandez, amid divorce rumors. Meanwhile, MasTec’s Jose Mas is buying a waterfront lot for $14.9M to build his dream home, while his brother Jorge Mas recently sold a waterfront plot for over $100M after buying a new mansion for $75M. The Gables Estates market is heating up — and the big players are making headlines. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/ea4b629567d1ab61