South Florida home sells at discount to hotel developer Karim Alibhai

An exterior and interior shot of 400 Arvida Parkway
An exterior and interior shot of 400 Arvida Parkway

From the South Florida siteA sprawling seaside estate in Coral Gables, Fla. has sold for $11.5 million to Karim Alibhai of Gencom Group, marking the most expensive single-family home sale year-to-date in Miami-Dade county, The Real Deal has learned. Alibhai helms Miami-based hotel and resort developer Gencom, which has built a number of projects under the Ritz-Carlton flag. [more]

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