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Coral Gables home sells at discount to hotel developer KarimAlibhai

A magnificent seaside estate in Coral Gables has been sold for $11.5 million to KarimAlibhai of GencomGrou.

This makes it the most expensive single-family home sale in the Miami-Dade Countyyear-to-date.

Alibhai may have gotten quite a discount although the sale includes a big amount. The former owners spent around $17 million building the home. They did not even plan to sell it since most elements were brought in from Europe, like the barn wood from France (used to construct the ceilings) and that the high-end materials caused costs to pile up.

It is a 13,668-square-foot home with nine bathrooms, eight bedrooms, four half bathrooms. The home also features a 180-foot seawall, an infinity pool, bay views, an elevator a wine cellar, and a gym. It was listed for $15.9 million but was just sold for $11.5 million.

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