In Coral Gables, Mansions Are Flying Off The Market
South Florida in general, and Coral Gables in particular, is suddenly the place where the nation’s one-percenters want to live. So far this year, mansions are changing hands at a breakneck pace. For mansions, that is. Here are some of the more notable recent sales. First, MKP Capital Management hedge fund co-founder Patrick McMahon and wife Kristen bought a 3.5-acre waterfront lot on Old Cutler Road for $18 million. Next, UM Health System oncologist Dr. Luis Villa Jr. sold his waterfront home in Gables Estates for $12.25 million. Then DPM Capital hedge fund founder Pedro Escudero and wife Madeline purchased a Gables Estate waterfront home for $8.4 million, followed by the sale by Alienware co-founder Nelson Gonzalez of his waterfront manse in Sunrise Harbour for $10.1 million.
On the low end of the scale, reggae musician Shaggy (“Boombastic” and “It Wasn’t Me”) purchased a five-bedroom, non-waterfront home in Cocoplum for $2.2 million. Poor Shaggy!