Developer Don Peebles relists Coral Gables estate for $15M
Nearly 3-acre property comes with a membership to Peebles’ Bath Club in Miami Beach
UPDATED, Dec. 4, 2:05 p.m.: Don Peebles is looking to sell his sprawling Coral Gables estate for nearly $15 million.
The developer previously listed the property for sale in 2017, asking nearly $13 million.
He and his wife, Katrina, tapped Jill Eber and Judy Zeder of The Jills Zeder Group at Coldwell Banker to list the two-story, 15,688-square-foot mansion at 11501 Old Cutler Road, according to a press release. The 2.9-acre property, called “Casa Arboles,” which translates to house of trees, features a canopy of 88 oak trees.
The mansion includes 10 bedrooms, 12 bathrooms and two half-bathrooms, a chef’s kitchen, two offices, a gym, a “boardroom” with a marble fireplace and 10-seat movie theater. It also has a full-house generator, four garages, a pool and tennis court, a main suite, and a private tower guest suite with its own living room, dining area, kitchenette and balcony.
“Katrina and I will be able to travel a bit more, so we want to uncomplicate our lives,” Peebles said about selling the Coral Gables estate, which is fully staffed. “We bought it as a place to raise our children.”
Architect Ramon Pacheco renovated the Mediterranean Revival home along with interior design from Katrina Peebles’ KLP Interiors.
The couple paid $5.45 million for the property in 2004 and put millions into renovating it.
Peebles said he and his wife own two homes in Wellington, which Katrina’s interior design firm renovated. The couple has one property on the market and will keep the other. They’re spending more time in Wellington because their daughter is an equestrian.
Property records show the couple paid $1.8 million in February for a home in Wellington, which is now on the market for $4.4 million.
Peebles heads the New York and Washington, D.C.-based Peebles Corporation. Peebles announced last year that he was renovating the Bath Club in Miami Beach to reopen as a social membership club following the $6 million renovation. The buyer of his house would also receive a complimentary membership to the club.
The Bath Club is set to open in January and is in the process of selecting its founding members, Peebles said.
Since founding his firm in the early 1980s, Peebles has bought, sold or developed a portfolio that totals $6 billion and spans more than 7 million square feet in Boston, Los Angeles, Miami, New York, San Francisco, Washington, D.C., and other cities. Last year, he announced that his company is launching a $500 million fund to invest in minority and women developers.