The Weeknd Sets Record with $54.9M Waterfront Mansion in Florida

In a notable real estate development, The Weeknd, whose real name is Abel Tesfaye, is poised to acquire a stunning waterfront mansion in Florida. The purchase price stands at a remarkable $54.9 million, marking a significant event in the Coral Gables property market.

The Weeknd’s Impressive Real Estate Acquisition

Located in the exclusive Gables Estates community, this eight-bedroom and nine-bathroom property spans 1.5 acres and boasts several additional half-bathrooms. The sprawling 19,000-square-foot mansion features extensive amenities, including an expansive dock suitable for a 200-foot megayacht.

Market Context and Previous Listings

The historical context of this property is fascinating. It has cycled on and off the market over the last five years, with a final listing price established in June 2025. Local real estate professionals indicate that this deal will be the most costly residential sale in Coral Gables to date, surpassing the previous record of $29.5 million.

• Property Features:
  • Location: Gables Estates, Coral Gables, Florida
  • Size: 19,000 square feet
  • Land Size: 1.5 acres
  • Bedrooms: 8
  • Bathrooms: 9 (+ several half-bathrooms)
  • Dock: Suitable for a 200-foot megayacht

Celebrity Influence on Real Estate

Industry professionals highlight the excitement celebrity purchases bring to a community. Compass agent Maurice Boschetti noted that while The Weeknd’s buying power might attract attention, many residents are equally enthusiastic about the record-breaking sale price. This purchase is expected to further elevate property values and perceptions in Coral Gables.

Besides luxury, the neighborhood offers additional attractions, such as access to top schools and proximity to Coconut Grove’s fine dining options. This unique blend of lifestyle, security, and community appeal continues to attract high-profile buyers.

Coral Gables: The New High-Value Neighborhood

Coral Gables has increasingly positioned itself as a prime residential destination, overtaking traditional hotspots like Beverly Hills. Recent data from Zillow indicates that Gables Estates is now the most expensive neighborhood in the United States based on home values over the past year.

In a broad shift, South Florida has emerged as a desirable location for residents and businesses alike, often referred to as “Wall Street South.” The area’s conducive lifestyle and favorable tax environment contribute to its growing reputation.