Spec Developer Sells Coral Gables Mansion for $36M

The sale marks one of South Florida's priciest residential deals in recent years.

Apr. 15, 2026 at 2:25pm

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A highly polished, geometric sculpture made of brushed stainless steel, reflecting light and shadows in a minimalist studio setting, conceptually representing the luxury and exclusivity of a multimillion-dollar real estate transaction.A record-breaking $36 million sale of a Coral Gables mansion underscores South Florida's continued appeal for high-end real estate investment.Coral Gables Today

A spec developer has offloaded a luxury mansion in Coral Gables, Florida for $36 million, one of the highest-priced residential transactions in the region in recent memory. The sale comes as South Florida's real estate market continues to see robust activity, with a separate $40 million commercial deal also reported in Palm Beach Gardens.

Why it matters

The Coral Gables mansion sale underscores the strength of South Florida's high-end real estate market, which has attracted significant investment from both domestic and international buyers seeking luxury properties. Meanwhile, the $40 million commercial deal in Palm Beach Gardens highlights the region's appeal for hospitality and development projects.

The details

The Coral Gables mansion was sold by a spec developer, though the specific identity of the seller was not disclosed. The 16,000-square-foot property features 6 bedrooms and 9 bathrooms, and sits on over an acre of land. The $36 million sale price makes it one of the priciest residential transactions in South Florida in recent years. Separately, a 16-key hotel and adjacent vacant lot spanning 4 acres in Palm Beach Gardens sold for $40 million. The seller was an LLC tied to Dallas-based Ashford Hospitality, while the buyer's identity was not revealed.

  • The Coral Gables mansion sale closed on April 15, 2026.
  • The $40 million Palm Beach Gardens commercial deal also occurred in April 2026.

The players

Coral Gables Mansion Seller

A spec developer who offloaded the 16,000-square-foot, 6-bedroom, 9-bathroom luxury property in Coral Gables for $36 million.

Ashford Hospitality

A Dallas-based hospitality company that sold a 16-key hotel and adjacent vacant lot in Palm Beach Gardens for $40 million.

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The takeaway

South Florida's real estate market remains robust, with both high-end residential and commercial transactions continuing to command premium prices. The region's appeal to domestic and international buyers seeking luxury properties and development opportunities shows no signs of slowing down.