Pinecrest Estate Sells For Record $14.3 Million, Highest Sale In Village History

A new record has been set in Pinecrest real estate with the sale of 8900 SW 64th Court for $14.3 million, the highest-priced residential property ever recorded in the village's history and surpassing the previous record of $13.9 million set by Jorge Mas’ former home last year. The tropical modern home spans 15,098 SF of contemporary living space on a 50,529 SF lot. The estate features seven bedrooms, eleven full bathrooms, and two half-bathrooms, complemented by an 86-foot pool, an entertaining pavilion, a theater room, a gym, and a guest house. Other features include MiaCucina-designed interiors, four-car garage, and meticulously landscaped gardens along with tailored water elements. The home was designed by renowned architect Cesar Molina of CMA Design Studios, Inc. and developed by Dionicio Investment Group. The transaction was overseen by Michael Diaz of Miami Brokers Group©.

Florida is home to numerous affluent areas, but only Pinecrest and Palm Beach rank among the top 50 wealthiest communities in the country, as reported by GoBankingRates©. As Florida’s second wealthiest neighborhood and 20th in the nation, Pinecrest highlights its exceptional status among the nation's elite neighborhoods and luxury living.

NY Tech Executive Buys Pinecrest Mansion For Record Price, Under Contract In Just 6 Days

A record-breaking sale took place in Pinecrest for a property that was on the market for just 6 days and sold for $5.6 million. 6035 SW 92nd Street is the most expensive resale of a home that is over 10 years old in Pinecrest. The home, dubbed “Magnolia House,” was purchased by Marc and Kerrie Ferrentino who are relocating from New York. Marc is the Chief Strategy Officer of tech company Yext. They were represented by Blair Sonville with Lowell International Realty and Michael Martinez with ONE Sotheby’s International Realty represented the seller, Matthew Adler, who is a prominent real estate developer.

Magnolia House was designed by architect Cesar Molina and built by Mackle Construction. The home features 7-bedrooms and 8.2 bathrooms with 8,863 sq.ft. of living space. There is also a gym, media room, home office with library, 4-car garage, elevator shaft and guest house. Outdoor space features a new summer kitchen, gazebo and heated saltwater pool.

Villa Valencia Launches Sales In Coral Gables

Villa Valencia has launched sales in “The City Beautiful,” bringing a new residential address that blends private luxury with a true downtown lifestyle. The project is being developed by Location Ventures, the Miami-based real estate investment firm with a portfolio of residential and mixed-used projects throughout South Florida. Villa Valencia will be a collection of just 39 ultra-luxury condominium residences rising 13-stories in Coral Gables, located at 515 Valencia Avenue. Designed by Hamed Rodriguez Architects, Villa Valencia’s façade is a fresh interpretation of the architectural style of Coral Gables, which harmoniously blends with its tropical modern interiors by CMA Design Studio, led by Principal Owner Cesar Molina.

Residences will range from three- to four-bedrooms spanning 2,616 to 3,276 SF on a single level. Two lower penthouse levels encompass the 11th and 12th floors, with units ranging from 2,678 SF, with 343 SF of terrace, to 4,267 SF, with more than 2,000 SF of covered and uncovered terraces. Marking the pinnacle of luxury is the full-floor, six-bedroom penthouse on the top level, a villa in the sky, at 6,263-SF, that will be complete with a private elevator and pool, 10-foot ceilings, and an expansive 4,646-SF terrace. All residences present open floor plans with deep, wide terraces and at least one corner exposure, offering sweeping views of the city, golf course, and water. Residences provide private foyers with elevator entry and are adorned with superior finishes. This includes exquisite European flooring, 10-foot exterior sliding doors, and finished custom closets. Kitchens are equipped with state-of-the-art Subzero and Wolf appliances, a wine cooler, custom cabinetry and quartz countertops.

“Villa Valencia fulfills a vision to unite estate-like living and a condominium setting without compromise,” said Rishi Kapoor, CEO of Location Venture. “To accomplish this, we have carefully conceived one of the most well-thought designs and amenity programs seen in a boutique project within this market. Coral Gables is long-recognized for its exceptional quality of life, and this project emulates that sense of timeless luxury.”

“Today’s affluent buyer, especially those seeking to live in Coral Gables, expects a product that feels customized to their needs, while fitting seamlessly into the context of its location,” added Daniel de la Vega, President of ONE Sotheby’s International Realty. “Villa Valencia leaves no stone unturned in its offerings and we are excited to unveil it to our network and the market.”

Wellness will be a centerpiece at Villa Valencia, with a rich program of spa and fitness offerings to promote relaxation and optimal health. This includes a hammam, steam room, his-and-her saunas, hydrotherapy plunge pools, as well as a state-of-the-art fitness facility with yoga, Pilates and weight training. For outdoor enjoyment, a 78-foot resort-style pool with a lap lane and waterfall is complemented by two summer kitchens and spacious sunbeds.

Residents will be able to live, work and entertain guests comfortably in a selection of venues throughout the property, as a secondary option to in-home hosting. A tea room with a coffee bar makes for intimate early morning and afternoon gatherings, while a dinner party is ideal in the Cucina that features a full-size kitchen and full bar open to the pool deck. For engaging recreation, the lively entertainment room will have billiards, and golf and driving simulators. In contrast, an executive room with video conferencing will also allow working from home with ease while the library, with an outdoor terrace, is a tranquil haven overlooking a lush park with shaded trees. Keeping pets in mind, the park will also feature a play area for dogs with a green space and exercise run. Valet parking, 24-hour concierge and private garages make security and discrete living a priority.

Villa Valencia residences start from $1.65 million with sales and market being exclusively represented by ONE Sotheby’s International Realty. The project expects to be delivered move-in ready, completion is anticipated for summer 2021.

PROFILE Exclusive: Interview with Patrick O'Connell of Gables Waterway

PROFILEmiami had the exclusive opportunity to sit down with Patrick O'Connell, the Senior Vice President - New Business Development for EWM Realty. He is heading up sales at Gables Waterway, a luxury-boutique condominium development located at 6100 Calballero Boulevard. Gables Waterway features 13 residences designed by Cesar Molina & CMA Architects with interiors by Assure Interiors. Residences feature select private elevators, private foyers, large open floor-plans, and come in Penthouse, Villa, Flat and Atelier layouts. Residences range from 2 to 6 bedrooms and 1,684 SF to 6,789 SF starting at $1.2 million. Sales of Gables Waterway are being handled exclusively by EWM Realty. 

PM: Where did the idea for Gables Waterway come about? 

PO: Gables Waterway is the developers vision. Jorge Ortiz and his family, after acquiring this property, they hired a very well-known Coral Gables architect known as Cesar Molina and shared with him their idea of doing something really truly unique and capturing the spirit of Coral Gables and the Mediterranean architecture. Rather than doing something contemporary like many developers are doing now he wanted to honor the classic tradition of the gables and build a showpiece property that is one-of-a-kind here in this city.

PM: What sets Gables Waterway apart from anything else in Coral Gables?

PO: I would say the fact that it's the last buildable multi-family opportunity in the city with access to the water. It's the last multi-family parcel on the Gables Waterway. Just that classic Mediterranean appeal, other developers are focusing on cotemporary and not this classic gables design.

PM: Who is the target buyer for Gables Waterway?

PO: We see as a lot of families in Coral Gables as the kids get older and graduate college and the parents want to stay in the Gables but do not want a house. That is the main focus of our development and those are our buyers. Its many families that have been here and older couples that have been here for years and years. They love Coral Gables but they also perhaps have a home up in North Carolina or Maine where they want to spend half the year, so the idea of having a large condominium here that they can also lock-up and go that is our customer.   

PM: What are the 3 best features of the Gables Waterway development from your perspective?

PO: I would say the waterfront appeal, that is first and foremost and unique. The fact that you can have your boat right behind your condominium. I would also say the Mediterranean architecture and the shear size and livability of these condominium units. These were designed taking months of reworking the interiors to make sure that we have the best interior design for families that live here full-time. 

PM: How did EWM get involved with Gables Waterway?  

PO: In the summer of 2015 we were originally approached by the owners of the property with the original sketches and plans for "The Waterway". They knew that EWM was the top-selling luxury brokerage in Coral Gables. Many of the buyers for this development are our customers already. We have their homes listed, so it was just a natural request that they would come to us and ask for our help. Even from the beginning Ron Shuffield, our President, spent a lot of time with the developer on the floor-plan really perfecting it. 

PM: What has been the biggest obstacle to overcome to bring Gables Waterway to completion?

PO: Heres the thing, the city loves this development. It's the right size development for the neighborhood. The developer is building "as-of-right," which means he didn't have to ask for any special permissions from the city. The commissioner and Mayor are squarely behind it, and they love it. It has actually been a fairly pleasant process, we haven't really had a lot of obstacles. We nearly have a permit and we are ready to build. 

PM: What is one feature of Gables Waterway that the residents are sure to love that buyers (residents) may not have thought about yet? 

PO: In the lower garage level the developer is building very large, "extra rooms," complete with electricity that is sort of like a personal basement for each unit. It is basically an entire separate room that they can place all of their fishing gear, everything for their boat, but it is the size of a bedroom and you can build-it out as you wish and it is metered to your unit so you can put a refrigerator or a freezer. From these rooms you can just walk right out to the private dock and load your boat and go. The developer is himself a boater so he built this very much with the boater in mind. 

PM: Where do you see Coral Gable’s place in Miami over the next decade? Twenty years? 

PO: I think that Coral Gables is going to continue to attract multi-national companies, which it has done a great job of already. With some new office product going up in Downtown Coral Gables. With the density of Downtown and the Brickell market right now and the difficulties of coming and going from there I think more companies are going to choose Coral Gables as their preferred location for their offices. With that comes all of their senior executives and their employees that are going to want to live here. I think it will continue to outperform the rest of Miami-Dade counties in our property values because of our location and the strict code enforcement that makes the residential experience superior to everything else in South Florida. 

Check-out our full PROFILE on Gables Waterway for a complete overview of the project. 

Gables Waterway by Cesar Molina To Bring Luxury Condos with Marina to Coral Gables

A new ultra-luxury, end-user targeted boutique condo development is coming to 6100 Calballero Boulevard in Coral Gables. Gables Waterway will include 13 residences designed by Cesar Molina with interiors by Assure Interiors and designed by CMA Architects. Residences feature select private elevators, private foyers, large open floor-plans, and come in Penthouse, Villa, Flat and Atelier layouts. Residences range from 2 to 6 bedrooms and 1,684 SF to 6,789 SF starting at $1.2 million. Gables Waterway also features lush landscaping and oversized walkways by Bell Landscaping, access to the adjacent Jaycee Park, waterfront pool, fitness center, cabana lounge, 24-hour security, oversized-climate controlled storage room with each unit as well as private elevator entrance for the units. Gables Waterway was also designed to cater to the boater, featuring a private marina available for residents with access to Biscayne Bay and the Atlantic Ocean. The Marina will be completed with boat slips, dock facilities, boater supply and storeroom as well as kayaks and paddle boards available to rent directly from the building. Sales of Gables Waterway are being handled exclusively by EWM Realty.