The biggest piece of land in Gables Estates just hit the market for $50M
4.5-acre assemblage includes 630 feet of water frontage
A sprawling assemblage of waterfront land with an aging mansion in the ritzy Gables Estates neighborhood is hitting the market for $49.9 million.
An unknown seller, Dempsey Realty NV, a Netherlands Antilles entity, is looking to sell the estate at 21 Casuarina Concourse in Coral Gables, south of developer Armando Codina’s estate. Liz Hogan of Compass is the listing agent.
The properties total 4.5 acres of land with 630 feet of water frontage, and include a 10,575-square-foot main house built in 1958. The land includes a sandy beach, a tennis court and two boat lifts.
Buyers could also purchase another 1.25-acre waterfront lot for an additional $8.5 million, giving them more than 5.5 acres.
Records show the Dutch Antilles entity acquired the estate in 1980 for $1.8 million. Marie Swenson, a founder of the Everglades School for Girls, which later merged into Ransom Everglades, sold the properties nearly 40 years ago.
Earlier this month, a former Coca-Cola distributor paid nearly $14 million for the empty waterfront lot at 625 Leucadendra Drive, also in Gables Estates.