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Legacy Residential's CEO Makes Headlines with Impressive Coral Gables Mansion Sale
Tomas E. Cabrerizo, the CEO of Legacy Residential Group, has solidified his position in the real estate spotlight by selling a Coral Gables mansion for a staggering $14 million. The property, a spacious 9,300-square-foot residence, was purchased by Matthew L. Adler, managing partner of Adler Real Estate Partners, and his wife Amanda J. Adler. This transaction showcases the increasing demand for high-end real estate in Florida's affluent neighborhoods.
The Details Behind the Deal
The sale was facilitated by Legacy 5200 LLC, which Cabrerizo manages. The mansion, located at 5200 S.W. 88th Street, was sold at a price of $1,505 per square foot, highlighting the luxury real estate market's resilience even during turbulent economic times. The Adlers secured a $7 million mortgage through Bank of America to finance this substantial investment.
Features of the Elegant Property
Set on a 0.74-acre lot, the newly acquired home boasts numerous luxurious features including six bedrooms, six bathrooms, two half-bathrooms, a summer kitchen, an outdoor lounge, and a pool. This well-designed home, built by the Mocca Group and crafted by Studio Anda, blends modern aesthetics with functional living spaces, making it ideal for lavish gatherings or serene family retreats.
Who Are the Key Players?
Cabrerizo is known for being one of the most prolific apartment developers in Miami-Dade, having constructed over 7,000 units throughout his career. Before his rise in real estate, he worked in the clothing industry. Meanwhile, Adler carries forward a legacy of real estate development as the son of Michael M. Adler, founder of Adler Group, signaling a new generation in Miami's competitive property market.
The Future of Real Estate in Coral Gables
This high-profile sale not only marks a significant financial win for Cabrerizo but reflects broader trends in Florida’s real estate market, highlighting investor confidence in luxury properties amidst changing economic conditions. As more developers and investors flock to this sunny state, the competition for prime properties is likely to intensify, driving prices even higher.
The Coral Gables community continues to thrive, attracting affluent buyers looking for exquisite homes that promise both luxury and lifestyle. Homeowners in Florida should stay informed about these market trends, as they may influence property values and investment opportunities in the coming years.
As real estate evolves in South Florida, opportunities for growth and investment remain bountiful. Homeowners and prospective buyers are encouraged to keep a close eye on market dynamics to seize emerging opportunities.
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