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South Florida

Gables Estates home sells for $11.5M

Gables Estates
Gables Estates

A waterfront Gables Estates home changed hands for $11.5 million, The Real Deal has learned.

Richard and Patricia Bohn sold the four-bedroom 540 Casuarina Concourse residence on Thursday, according to Miami-Dade County records. The 4,277-square-foot house was built in 1963 on about 2.5 acres in the exclusive Coral Gables neighborhood.

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A Miami company called 540 Casuarina LLC is the buyer. State corporate records show the company is managed by a Bahamas-based firm. It did not obtain financing for the purchase.

The 540 Casuarina sale closed about a month after Miami developer Sergio Pino sold his Gables Estates mansion for $8 million. — Eric Kalis

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