Ex-Royal Caribbean CEO Selling $37 Million Mansion

Royal Caribbean Group’s former longtime chairman and CEO Richard Fain signed a contract to sell his waterfront Coral Gables estate, asking $37 million.

The pending deal marks the most expensive of 20 contracts signed in Miami-Dade County between Dec. 8 and Dec. 14, according to the latest Eklund-Gomes report. It tracks listings of homes and condos asking $4 million and up in Miami-Dade that are included in the Multiple Listing Service. The properties spent 147 days on the market, on average.

Twenty-five luxury listings were added to the market, for a total of 1,340 listings.

The previous week, buyers signed 14 contracts for properties in Miami-Dade, asking a combined $100.6 million.

It was a busy week: the asking dollar volume for the 14 single-family homes and six condos under contract last week totals $259.3 million, according to the report published 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 $13 million and spent an average of 144 days on the market. They total $183.2 million in asking dollar volume.

Fain and his wife, Colleen, own the 10,840-square-foot mansion at 700 Arvida Parkway, which topped the report. The price amounts to $3,413 per square foot. The seven-bedroom, seven-and-a-half-bathroom house sits on a 2.3-acre lot in Gables Estates with 130 feet of water frontage, according to the listing. The property is on the market with Bea Citron, a Compass agent. She declined to comment on the pending deal. The Fains bought the home in 1989 for an undisclosed amount. Richard Fain led Royal Caribbean for more than 30 years and grew the company into one of the largest cruise lines in the world.

The second most expensive home to enter into contract is the six-bedroom, six-and-a-half-bathroom home at 194 South Island Drive in Golden Beach. The 7,635-square-foot house is asking nearly $30 million with Douglas Elliman’s Dina Goldentayer and Joel Lusky of The Brokerage South Florida. Property records show Michael Klinger, CEO of Saber, a Hallandale Beach-based development firm, is selling the house. It sits on a third of an acre.

The condos that secured buyers last week have an average asking price of $12.7 million and spent 153 days on the market, on average. They total $76.1 million in asking dollar volume, or an average of $2,586 per square foot.

Last week in New York, buyers signed contracts for 33 homes, according to the latest Olshan report. Their combined asking price is $281.6 million, and the typical home spent 591 days on the market.