A home in Gables Estate owned by the billionaire Cisneros family has sold for $23 million. The 12,000-square-foot property, located on three acres of land, has 720 feet of waterfront, a private beach, tennis courts and room for a 150-foot yacht. The property was owned by a company headed by Melina and Eduardo Cisneros; Eduardo is nephew to billionaire Gustavo Cisneros, and recently became CEO of the Cisneros Corporation, with media, real estate and sports holdings. The sellers were represented by Liz Hogan of Compass. The buyer, 555 Endeavor Land Trust, was represented by Maurice Boschetti of BH Realty. Boschetti has declined to disclose the owner of the trust, but said the buyer intends to tear down the mansion and build a new one. There have only been four homes sold for a higher price in the Gables, ranging from one sold in 2016 for $23.46 million to one sold earlier this year for $43.7 million.