South Florida Sun-Sentinel (Sunday)
Mediterranean ‘palace’ going for a king’s ransom
Coral Gables home designed by Rafael Portuondo listed at $55 million
A lavish Mediterranean “palace” in Coral Gables is, at $55 million, the most expensive home listed for sale in MiamiDade County.
And the eventual buyer will live like royalty in the 16,198-square-foot, six-bedroom home, at 8901 Arvida Lane in the Gables Estates neighborhood.
Designed by Rafael Portuondo, president of Miamibased Portuondo Perotti Architects and known for his classical architecture, the two-story estate was built in 2007. It features nine full baths, three half baths, a movie theater and elevator.
It sits on 2.38 acres, with lush landscaping and 674 different types of plants, palms and other trees. There’s also 250 feet of waterfront, with no bridges to Biscayne Bay, a separate gym and a guest villa.
“When you walk in, it feels like a palace,” said Maurice Boschetti, broker-owner of BH Realty in Coral Gables, who co-listed the property with Silvia Boschetti.
The property is in guardgated Gables Estates, an exclusive waterfront community.
Although the streets are public, residents must pay an application fee of $100,000 for membership in the Gables Estates Club as a prerequisite to purchasing property there.
The City of Coral Gables is a planned community with lush topical streets. Home to more than 20 consulates and 140 multinational corporations, it’s popular with families because of its excellent public and private schools.
“Coral Gables is a very closeknit community,” Boschetti said. He expects the home to sell to a local buyer.
According to Zillow, the estate was previously listed several times starting in March
2017 but didn’t sell. Boschetti’s listing went live on July 8.
The current owners, Manuel Diaz and Barbara Diaz, bought the property for $6.4 million in
2002 and built the house, said Boschetti, who added that the owners are downsizing.