Coral Gables Florida mansion flip signals a record-setting market shift
In Coral Gables Florida, a waterfront mansion changed hands for $55 million in an off-market deal, turning a private resale into a public marker of how far the top end of the market can still move. Former “Real Housewives of Miami” star Dr. Nicole Martin and her fiancé, attorney Anthony Lopez, sold the property just eight months after buying it.
How did one estate become a market signal?
The home at 33 Arvida Parkway was sold by Lopez Strategic Manager LLC to Green Woods Trust, managed by Christine Hahn. The sale tied the price record for single-family home sales in Coral Gables and came after the couple bought the mansion for $34 million in August, leaving them with a gain of $21 million in eight months.
The property sits in the gated Gables Estates neighborhood and was built in 2004 on 0. 8 acres. Records show the 12, 500-square-foot mansion includes eight bedrooms, eight bathrooms, one half-bathroom, a pool, a dock and 225 feet of water frontage. A previous listing also described a game room, gym and 2, 700-bottle wine cellar.
Why does Coral Gables Florida keep drawing record sales?
This latest transaction is part of a series of high-end sales that have pushed attention toward Coral Gables Florida in recent months. Earlier this month, Lauren Sturges sold her waterfront Tahiti Beach mansion for a record $32 million. In the same period, spec developer Irving Padron and architect Cesar Molina sold a waterfront spec estate in the gated Old Cutler Bay community for $36 million.
The new record-tying deal also matched a prior benchmark set last summer, when spec developer Alex Pirez sold a nearby waterfront mansion in Gables Estates for $55 million in another off-market transaction. Together, these sales point to a narrow but active segment of buyers still willing to pay extraordinary sums for rare waterfront homes.
Who was involved in the deal?
Dennis Carvajal with One Sotheby’s International Realty represented the sellers, and Banna Fakhoury with One Sotheby’s International Realty brought the buyer. Martin is an anesthesiologist who appeared on “The Real Housewives of Miami” in seasons 4 through 6 and said in September 2024 that she planned to step back from the show. Lopez owns Your Insurance Attorney, a Coconut Grove-based law firm focused on insurance litigation.
For residents watching the market from outside the gates, the sale is more than a headline figure. It reflects a place where one mansion can compress luxury, scarcity and timing into a single deal, and where Coral Gables Florida continues to serve as a stage for the highest end of South Florida housing.
Image caption: Coral Gables Florida waterfront mansion sale in Gables Estates tied a record with a $55 million off-market deal.
