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Historic Gables home commands $3.75 million

Historic Gables home commands $3.75 million
The sale price of the city-designated landmark was a record in the 33134 zip code
April 02, 2016 11:00AM

1248 Coral Way in Coral Gables

A historic Coral Gables home built on land once owned by George Merrick, the original developer of the city, sold for $3.75 million.
The Miami Herald reported that the 6,300-square-foot house at 1248 Coral Way is located on land Merrick and his family owned before Ambrose Becker built the Mediterranean-style house there in 1929.
The historic preservation board of Coral Gables designated the property as a historic landmark, in 2011. According to the board, Merrick hailed Becker as an important figure in the development of Coral Gables and said Becker “deserved equal praise in its rebirth.”
The Herald also reported that the $3.75 million sale to local attorney Thomas Morgan was the highest price ever for a house in the 33134 zip code encompassing the North Gables.
The property includes a main house with six bedrooms and seven bathrooms and a two-bedroom guest house.
According to the Herald, the last time the Coral Way home changed hands was at an auction in late 2011, after James H. Davidson Jr. died, leaving the property to the federal government in his will and asking that sale proceeds be used to pay down the national debt. [Miami Herald] – Mike Seemuth

Source: The Real Deal

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