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Newly built Gables manse fetches $8.4M

Newly built Gables manse fetches $8.4M
Closing price breaks down to $714 per square foot
February 16, 2016 01:30PMBy Sean Stewart-Muniz

The mansion at 10101 Sabal Palm Avenue in Coral Gables

The developers of a freshly built mansion in Coral Gables just sold their project for $8.4 million.
Located at 10101 Sabal Palm Avenue in the Gables’ gated Snapper Creeks Lakes community, the Neoclassical estate measures 11,758 square feet and occupies 1.78 acres of land.
It was built by Henry Torres and Peter Torres, respectively president and vice president of the Astor Companies development firm that’s building InTown Little Havana.
The pair bought the land in 2011 for $2.2 million, demolished the existing home and later began construction on their new contemporary mansion.
Its features: vaulted ceilings, intricate millwork, limestone and marble floors, plus luxury finishes throughout its seven bedrooms and nine bathrooms.
The home also has a wide open outdoor pavilion with a pool and summer kitchen. Its landscaping includes 100-year-old oak trees and frontage on a small pond.
Saddy Delgado and Lourdes Alatriste of ONE Sotheby’s International Realty had the property’s listing since it was put up for sale last year. Its original ask was $9.9 million, marking about an 18 percent price chop.
Miami-Dade County records show the buyers were Deepak and Seema Abbhi. They paid roughly $714 per square foot for the home.

Source: The Real Deal

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