Oil Recycling Mogul Selling $55M Gables Estates Home

Oil recycling mogul Steven Lempera’s bet on Gables Estates appears to have paid off.

Lempera found a buyer for his waterfront Gables Estates mansion, asking $54.9 million. He paid $25.5 million for the property at auction in 2019, a year after he sold his company to Patrick Dovigi’s waste management giant GFL Environmental.

Lempera’s pending sale is one of 16 contracts signed between Aug. 25 and Aug. 31, according to the latest Eklund-Gomes report, which tracks listings of homes and condos asking $4 million and up in Miami-Dade County that are included in the Multiple Listing Service. The properties spent 180 days on the market, on average.

Twenty-three luxury listings were added to the market, for a total of 1,119 listings.

The previous week, buyers signed contracts for nine properties in Miami-Dade, asking a combined $92.3 million.

The asking dollar volume for the nine single-family homes and seven condos under contract last week totals $195 million, according to the report, which is authored by the Douglas Elliman team led by Fredrik Eklund and John Gomes.

The single-family homes that entered into contract last week have an average asking price of $14.8 million and spent an average of 142 days on the market. They total $133.2 million in asking dollar volume.

Lempera’s eight-bedroom, nine-and-a-half-bathroom estate is on the market with Eddy Martinez and Roland Ortiz of One Sotheby’s International Realty. The 1.2-acre property sits on a point lot with a pool, hot tub, outdoor kitchen and dock. It was built in 2018 and spans nearly 19,000 square feet of interior space.

The second-priciest house to enter into contract is the waterfront 6,581-square-foot home at 2288 Sunset Drive in Miami Beach. The 0.3-acre Sunset Islands property, with seven bedrooms and nine and a half bathrooms, was built by Todd Michael Glaser, according to the listing. It’s on the market with Nelson Gonzalez of Berkshire Hathaway HomeServices EWM Realty.

The home, with a wellness suite, pool, spa, rooftop and more, was completed last year. Records show a company managed by Tom Del Bosco, chief financial officer at Smith Management, which is linked to Alden Global Capital, owns the property. It’s on the market for $29.5 million.

The condos that secured buyers last week have an average asking price of $8.8 million and spent 229 days on the market, on average. They total $61.8 million in asking dollar volume, or an average of $2,703 per square foot.

Martinez and Ortiz are also co-listing the priciest condo to enter into contract last week, unit 38 at Regalia in Sunny Isles Beach. The four-bedroom, six-bathroom condo at 19575 Collins Avenue spans nearly 5,000 square feet. It’s asking $15.9 million. Records show Regalia 38 LLC paid $10.2 million for the unit in 2022.

Last week in New York, buyers signed contracts for 16 homes, according to the latest Olshan report. Their combined asking price is $111.5 million, and the typical home spent 1,202 days on the market.