A waterfront compound in Coral Gables' exclusive Gables Estates enclave has hit the market at $148 million, a figure that would nearly triple the area's existing residential sales record and rank among the most consequential luxury real estate transactions in South Florida history.

What is being sold and where is it located?

The property is a multi-structure waterfront compound situated within Gables Estates, one of Coral Gables' most guarded residential enclaves, offering direct access to Biscayne Bay as of its listing date, October 6, 2026. The compound's scale and amenities set it apart even within one of Miami-Dade County's most prestigious zip codes.

  • 245 linear feet of private waterfront along Biscayne Bay
  • A private chapel on the grounds — a rare residential feature in South Florida
  • A separate guest villa included in the compound
  • Direct water access, positioning the estate for yacht or large-vessel mooring

How does the $148 million asking price compare to Coral Gables history?

At $148 million, the asking price would come close to tripling Coral Gables' current all-time residential sales record, representing a potential generational leap for the city's luxury market. No single-family transaction in Coral Gables has come close to this price threshold in the city's recorded history, making the listing extraordinary even by South Florida's increasingly stratospheric standards.

Coral Gables has long attracted ultra-high-net-worth buyers drawn to its Mediterranean Revival architecture, strict zoning codes, and proximity to Miami's financial and international business corridors. However, price benchmarks in the city have historically lagged behind waterfront records set on Miami Beach and in Indian Creek Village.

What would a sale at this price mean for South Florida real estate?

A completed transaction at $148 million would position Coral Gables alongside Palm Beach and Miami Beach as a genuine destination for nine-figure residential deals, reshaping how brokers, appraisers, and tax assessors benchmark trophy properties across Miami-Dade County. The ripple effects on neighboring Gables Estates valuations could be significant, potentially lifting assessed values and property tax burdens for surrounding homeowners.

  • South Florida has seen accelerating ultra-luxury sales activity since 2021, with several Miami-area deals surpassing $50 million
  • A $148 million closing would rank among the largest residential sales ever recorded in Florida
  • Gables Estates, as a deed-restricted waterfront community, has limited inventory, amplifying the scarcity premium attached to properties of this scale

Original reporting on the listing was published by Robb Report on October 6, 2026.