Touchdown: University of Miami coach buys flipped mansion near Coral Gables
Mansion’s sellers paid $900K less for it last year
University of Miami’s head football coach Mario Cristobal scored a new mansion, months after signing a huge contract with UM, The Real Deal has learned.
Cristobal paid $7.9 million for a non-waterfront home on Southwest 53rd Avenue in the Ponce-Davis neighborhood, near Coral Gables, according to a source. Records show Emily McLellan and Robert Scott McLellan sold the property to a land trust in March.
Cristobal signed an $80 million, 10-year contract with the university last year, replacing former head coach Manny Diaz.
The McLellans paid $7 million for the six-bedroom, seven-and-a-half-bathroom house in May of last year, which means they sold it or 13 percent more in less than a year.
The 8,829-square-foot estate sits on a 1.1-acre lot. It was built in 2005. The property hit the market in September for nearly $8 million, and was on and off the market a few times before the flip.
Compass agent Angel Nicolas represented the sellers in the most recent deal, according to Realtor.com. Diana Gutierrez with Mocca Realty represented the buyer. Nicolas declined to comment, and Gutierrez did not immediately respond to a request for comment.
Recent buyers have been flipping their luxury properties, taking advantage of the boom in demand for multimillion-dollar homes.
Ponce-Davis, a non-waterfront area in unincorporated Miami-Dade, has seen a handful of big sales in recent months. Athletes have long flocked to the neighborhood, including Alex Rodriguez.
Just this week, former Real Housewife of Miami Cristy Rice, who was previously married to three-time NBA All-Star Glen Rice, sold her nearby Miami home at 4835 Southwest 82nd Street for $5.1 million.
In January, Miami Heat star Jimmy Butler paid $7.4 million for a house in the area’s Stonegate community.