Coral Gables Real Estate:$50M Idyllic Gables Estates Mansion on Market
Shaq? Kids play! Star Island? Tobacco Road.
Move over Indian Creek Island, there’s a new kid on the market and he means business.
11 Casuarina Concourse, owned by auto/real estate magnate Alan Potamkin was listed for $49,500,000.
As Paris Hilton would say: “That’s hot!” This is one of the most fantastic pieces of property south of Palm Beach.
The main residence is over 20,000 sf, and is sited on over 3.6 acres of prime Gables Estates real estate. The unique location of the property provides approximately 800 linear foot of waterfront.
The property is assessed by the county for $17,588,023*. The current taxes on the property are $344,497,89. From a 2006 Miami New Times article
Alan Potamkin, a high-profile developer from Coral Gables, paid a whopping $348,102 in property taxes in 2006. Potamkin’s kingly homestead has a current market value of $21 million, more than ten times what the auto/real estate magnate purchased the four-bedroom property for in 1987.
…hmmmm.
From the listing
“One-of-a-kind breathtaking 11B/8B open-bay waterfront estate is situated on the finest lot in gated, exclusive Gables Estates! This 20,088 sf grandeur home has 800 feet on water and sits on 3.6 acres. Private guest suite with lighted tennis court and courtyard on its own acre. 3 Suites w/full baths, upstairs master suite with full gym, billard, media room are just a few of the delights. Lutron lighting & 12 camera security system throughout this secure estate! A must see…”
I’ve heard that Alan Potamkin is really into his trees and landscaping. I’m sure the landscaping is first-rate.
Related Reading
*Assessment is used for tax purposes only.
*Listing courtesy of Avatar Real Estate Services
