Gables Estates Mansion Owned by Alan Potamkin Sells for $43.7 Million

1 Casuarina Concourse is under contract for $43.7 million, which would be the most expensive sale in Miami-Dade County in 2017. The home is being sold by Alan Potamkin, Co-Chairman of Potamkin Automotive Group. He purchased the property in 1987 for $2 million before later building the existing house in 2000. 1 Casuarina Concourse was originally listed for $67 million in May 2015. The home includes 20,682 SF spread over 9 bedrooms, 15 bathrooms, his and hers libraries, elevator, saltwater aquarium, boxing room, gym, spa & massage room, staff quarters and a 1,500-bottle wine room. Spread over 3-acres, the estate also features a koi pond, tennis court, beautifully landscaped pool, and over 1,000 SF of waterfront on Biscayne Bay.

PROFILE Exclusive: Interview with Patrick O'Connell of Gables Waterway

PROFILEmiami had the exclusive opportunity to sit down with Patrick O'Connell, the Senior Vice President - New Business Development for EWM Realty. He is heading up sales at Gables Waterway, a luxury-boutique condominium development located at 6100 Calballero Boulevard. Gables Waterway features 13 residences designed by Cesar Molina & CMA Architects with interiors by Assure Interiors. Residences feature select private elevators, private foyers, large open floor-plans, and come in Penthouse, Villa, Flat and Atelier layouts. Residences range from 2 to 6 bedrooms and 1,684 SF to 6,789 SF starting at $1.2 million. Sales of Gables Waterway are being handled exclusively by EWM Realty. 

PM: Where did the idea for Gables Waterway come about? 

PO: Gables Waterway is the developers vision. Jorge Ortiz and his family, after acquiring this property, they hired a very well-known Coral Gables architect known as Cesar Molina and shared with him their idea of doing something really truly unique and capturing the spirit of Coral Gables and the Mediterranean architecture. Rather than doing something contemporary like many developers are doing now he wanted to honor the classic tradition of the gables and build a showpiece property that is one-of-a-kind here in this city.

PM: What sets Gables Waterway apart from anything else in Coral Gables?

PO: I would say the fact that it's the last buildable multi-family opportunity in the city with access to the water. It's the last multi-family parcel on the Gables Waterway. Just that classic Mediterranean appeal, other developers are focusing on cotemporary and not this classic gables design.

PM: Who is the target buyer for Gables Waterway?

PO: We see as a lot of families in Coral Gables as the kids get older and graduate college and the parents want to stay in the Gables but do not want a house. That is the main focus of our development and those are our buyers. Its many families that have been here and older couples that have been here for years and years. They love Coral Gables but they also perhaps have a home up in North Carolina or Maine where they want to spend half the year, so the idea of having a large condominium here that they can also lock-up and go that is our customer.   

PM: What are the 3 best features of the Gables Waterway development from your perspective?

PO: I would say the waterfront appeal, that is first and foremost and unique. The fact that you can have your boat right behind your condominium. I would also say the Mediterranean architecture and the shear size and livability of these condominium units. These were designed taking months of reworking the interiors to make sure that we have the best interior design for families that live here full-time. 

PM: How did EWM get involved with Gables Waterway?  

PO: In the summer of 2015 we were originally approached by the owners of the property with the original sketches and plans for "The Waterway". They knew that EWM was the top-selling luxury brokerage in Coral Gables. Many of the buyers for this development are our customers already. We have their homes listed, so it was just a natural request that they would come to us and ask for our help. Even from the beginning Ron Shuffield, our President, spent a lot of time with the developer on the floor-plan really perfecting it. 

PM: What has been the biggest obstacle to overcome to bring Gables Waterway to completion?

PO: Heres the thing, the city loves this development. It's the right size development for the neighborhood. The developer is building "as-of-right," which means he didn't have to ask for any special permissions from the city. The commissioner and Mayor are squarely behind it, and they love it. It has actually been a fairly pleasant process, we haven't really had a lot of obstacles. We nearly have a permit and we are ready to build. 

PM: What is one feature of Gables Waterway that the residents are sure to love that buyers (residents) may not have thought about yet? 

PO: In the lower garage level the developer is building very large, "extra rooms," complete with electricity that is sort of like a personal basement for each unit. It is basically an entire separate room that they can place all of their fishing gear, everything for their boat, but it is the size of a bedroom and you can build-it out as you wish and it is metered to your unit so you can put a refrigerator or a freezer. From these rooms you can just walk right out to the private dock and load your boat and go. The developer is himself a boater so he built this very much with the boater in mind. 

PM: Where do you see Coral Gable’s place in Miami over the next decade? Twenty years? 

PO: I think that Coral Gables is going to continue to attract multi-national companies, which it has done a great job of already. With some new office product going up in Downtown Coral Gables. With the density of Downtown and the Brickell market right now and the difficulties of coming and going from there I think more companies are going to choose Coral Gables as their preferred location for their offices. With that comes all of their senior executives and their employees that are going to want to live here. I think it will continue to outperform the rest of Miami-Dade counties in our property values because of our location and the strict code enforcement that makes the residential experience superior to everything else in South Florida. 

Check-out our full PROFILE on Gables Waterway for a complete overview of the project. 

Gables Waterway by Cesar Molina To Bring Luxury Condos with Marina to Coral Gables

A new ultra-luxury, end-user targeted boutique condo development is coming to 6100 Calballero Boulevard in Coral Gables. Gables Waterway will include 13 residences designed by Cesar Molina with interiors by Assure Interiors and designed by CMA Architects. Residences feature select private elevators, private foyers, large open floor-plans, and come in Penthouse, Villa, Flat and Atelier layouts. Residences range from 2 to 6 bedrooms and 1,684 SF to 6,789 SF starting at $1.2 million. Gables Waterway also features lush landscaping and oversized walkways by Bell Landscaping, access to the adjacent Jaycee Park, waterfront pool, fitness center, cabana lounge, 24-hour security, oversized-climate controlled storage room with each unit as well as private elevator entrance for the units. Gables Waterway was also designed to cater to the boater, featuring a private marina available for residents with access to Biscayne Bay and the Atlantic Ocean. The Marina will be completed with boat slips, dock facilities, boater supply and storeroom as well as kayaks and paddle boards available to rent directly from the building. Sales of Gables Waterway are being handled exclusively by EWM Realty. 

University of Miami Planning $155 Million, Arquitectonica Designed Expansion

The Univeristy of Miami has teamed up with Arquitectonica and is planning a major expansion to their Coral Gables campus. The proposal includes 23 new buildings, all interconnected featuring 1,104 new dorm beds, residential recreation room, 200 seat auditorium, Launch Pad start-up incubator and workspace, learning center, multi-purpose rooms, retail including mail room, print shop, bike shop, and food options. The design shows ground level being educational, retail and student space while the upper levels are living. The build-out is estimated to cost $155 million and the plans are under review by the city. Completion is expected in 2019.

New Town Townhouses Approved in Coral Gables

The proposed New Town townhomes have been approved for Coral Gables on Almeria Avenue. The project will feature four townhouses with a Mediterranean influenced design by Borges + Associates Architects which they have updated to meet compliance. The city of Coral Gables initially had requested Borges + Associates Architects and developer Pedro Viana to rework the design to a more Mediterranean style which would be more consistent with the traditional architecture throughout the city after they had initially proposed a radical new contemporary design. The design of the project will integrate the existing Oak trees on the property. The units will be 3-levels and 6,500 SF. The feature a plunge pool, elevator, four-car garage, rooftop garden, European kitchen and smart home technology. Groundbreaking is expected in the summer of 2017 with completion expected in Fall 2018.

“The trees are what really make this particular Coral Gables residential neighborhood extra special,” said Borges + Associates’ Principal Reinaldo Borges. “It’s value-added that also enhances the architecture.” said Reinaldo Borges, principal at Borges + Associates Architects. 

The Denied, Modern Design

Bob Griese's Coral Gables Colonial Estate Listed for $4.245 Million

Miami Dolphins legend Bob Griese has listed his Coral Gables colonial estate for $4.245 million. The home is located at 4412 Santa Maria Street and is on the 15th hole of the Riviera Country Club golf course. The house was originally built in 1941 and is 5,924 SF spread over 5 bedrooms and 5 bathrooms. Although the old-world charm has been preserved, it has been updated with modern upgrades including new marble kitchen, new wood floors, millwork and a heated pool. Listing and photos by One Sotheby's International Realty. 

Prince Royce Relists Coral Gables Home for $2.99 Million

Geoffrey Royce Rojas, better known as Prince Royce, has resisted his Coral Gables home and he has dropped the price to $2.99 million. The singer originally listed the home for $3.75 million. Royce has established himself with many hits in recent years including "Stand by Me," "Stuck on a Feeling," "Back it Up," and "Corazón Sin Cara." The 5,212 SF home is located at 144 North Prospect Dr. and features 4 bedrooms and 4 bathrooms. It was originally built in 1971 and was designed by Miami architect Hilario Candela before being redesigned in the early 2000's by Victor Vazquez. The home reflects Royce's young and eccentric style with custom furniture throughout including purple chairs and blue paneled kitchen. also features a recording studio, open living concept that lets light flow through the home, a billiards rooms, a master suite with a 2 level master closet, and an outdoor entertainment area with lush landscaping, Summer Kitchen and pool. Royce originally listed the home for $2.33 million in 2013  and originally listed it with Chad Carroll before pulling the listing. The new listing at $2.99 million is with The Jills of Coldwell Banker Real Estate. Photos by Coldwell Banker Real Estate. 

Sunset Place Primed for Redevelopment

The new owners of Coral Gable's Sunset Place are planning to eliminate the mall and redevelop the property into new mixed-use hotel, residential and retail project. The new project will be designed by Zyscovich and will feature 414 residential units and 182 hotel room units. There will also be a pedestrian friendly retail portion with a public square, 30-foot tree lined sidewalks and shady canopy over storefronts. They plan for the store-mix to be more locally curated as opposed to that of standard, 1990 style national mall style chains. They plan to retain AMC Movie Theaters, LA Fitness and GameTime Arcade. The close proximity to transit such as the Gables-South Miami Line. Federal Realty Investment Trust, Grass River Property, and Comras Company purchased the property in 2015 for $110 million and will head-up the redevelopment efforts as they plan to breathe new life into the struggling landmark shops which are now very dated. Plans for the redevelopment effort were recently submitted to the city and they will have an initial public hearing before the city commission votes in early 2017. The partnership also purchased Coconut Grove's Cocowalk earlier this year and will submit plans for a complete makeover of that property as well.  

Coral Gables Classic Designed by George Merrick Listed for $999K

It really doesn't get any more classic than this Coral Gables historic designed by Coral Gables founder George Merrick himself. Located at 6704 S Le Jeune Road in the Dutch South African Village part of Coral Gables, the home is 2,008 SF with 3 bedrooms and 2 bathrooms. It was in fact designed after a traditional South African 17th century farmhouse and features classic styling including oak wood floors and a wood-beam vaulted ceiling. The home is currently listed for $999,000. Photos by Avatar. 

Bacardi Family Heir Lists Coral Gables Mansion for $27.26 Million

Hilda Maria Bacardi has listed her recently completed Coral Gables mansion for $27.26 million. She is the sister of Bacardi Chairman Fecund Bacardi and great, great granddaughter of Facundo Bacardí Massó, who founded the rum company in 1862. The property was previously listed uncompleted for $18 million in 2014, but was taken off the market. Bacardi had originally planned to live in the house but ultimately decided to reside somewhere else. 

The property is 1.3 waterfront acres in the Islands of Cocoplum gated community section of Coral Gables. There is a 10 bedroom mansion with over 21,000 SF, a 2 bedroom guest house, and over 400 feet of waterfront including a 100-foot private dock. It also includes a wine cellar, elevator, 15 bathrooms, 3 kitchens and a pool. Photos and listing by Barbara Estela of Douglas Elliman Real Estate.