Javier Cervera buys waterfront Gables Estates property for $8M

Deal breaks down to $1,770 psf for the house and nearly $200 psf for the land

Nov.November 07, 2016 12:00 PM
301 Arvida Parkway. Inset: Javier Cervera

301 Arvida Parkway. Inset: Javier Cervera

Javier and Jennifer Cervera picked up a waterfront Gables Estates home for $7.76 million. 

Theresa Pearl’s trust sold 301 Arvida Parkway to the Cerveras, records show. Javier Cervera is part of the Cervera family’s second generation and president and founder of Cervera R.E. Ventures, an investment and management firm. Jennifer Cervera is a Realtor associate with Cervera Real Estate.

Their Gables Estates home, built in 1967, has five bedrooms, four bathrooms and spans 4,382 square feet. It sits on 0.9 acres on a corner lot on Arvida Parkway with 370 feet of waterfront. The listing describes the property as a development opportunity with direct ocean access and a deep boat basin.

The sale breaks down to $1,770 a foot for the house and nearly $200 per square foot for the land.

EWM International Realty agent Judy Zeder brokered the sale, according to Realtor.com. Zeder’s team ranked fourth in The Real Deal‘s ranking of top residential agents earlier this year.

The home was listed for $8.95 million and reduced to $8.35 million in October.

Robert and Michael Pearl signed the deed transfer of ownership on behalf of the Pearl trust. Previous sales information was not available online.

Just last week, a Gables Estates mansion sold for nearly $26 million. The ritzy Coral Gables neighborhood is home to owners like auto magnate Alan Potamkin and Benjamin Leon of Leon Medical Centers.

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