Billionaire Jose Mas, CEO of MasTec and co-owner of Inter Miami CF, has acquired a prime 1-acre waterfront lot in the exclusive Gables Estates neighborhood of Coral Gables for $14.9 million. This significant real estate transaction underscores the continued allure of South Florida’s luxury market for high-net-worth individuals.
Key Takeaways
- Jose Mas purchased a 1-acre waterfront lot in Gables Estates for $14.9 million.
- The property is located at 9175 Arvida Parkway.
- Mas plans to construct a new mansion on the site, collaborating with architect Cesar Molina.
- This acquisition follows a trend of significant real estate activity by the Mas family in Miami.
A Prime Piece of Coral Gables
The newly acquired property at 9175 Arvida Parkway represents a significant investment in one of Coral Gables’ most prestigious enclaves. The 1-acre parcel offers direct waterfront access, a highly sought-after feature in Miami’s competitive luxury real estate landscape.
The Transaction Details
Records indicate that the lot was sold by a company led by developer Humberto Ramirez, who had purchased it for $10.4 million in 2023. Ramirez expressed satisfaction with the sale, noting that Mas’ offer was well-received by him and his investors. The property was co-listed by Humberto Ramirez and Eddy Rengifo of Avanti Way Realty, while Roxanna Urban of One Sotheby’s International Realty represented the buyer, Jose Mas.
Future Plans for the Property
Jose Mas has engaged architect Cesar Molina of CMA Design Studio to design a new mansion for the site. This project is part of a broader strategy that includes developing and selling high-end homes within Gables Estates, signaling continued confidence in the luxury housing market.
The Mas Family’s Real Estate Moves
This purchase by Jose Mas is the latest in a series of high-profile real estate transactions by the Mas family. His brother, Jorge Mas, has also been very active, recently selling two properties in Coconut Grove and Coral Gables for over $130 million combined. Jorge Mas also reportedly purchased a newly constructed waterfront mansion in Gables Estates for $75 million. These moves highlight the family’s substantial presence and investment in Miami’s luxury property sector.
A Thriving Luxury Market
Jose Mas’ acquisition is seen as a strong indicator of the robust health of the luxury real estate market in South Florida. The region continues to attract affluent buyers from across the country, particularly from the West Coast and Northeast, seeking to invest in high-end properties. Recent sales, such as the $55 million flip of a Gables Estates mansion by attorney Anthony Lopez and Dr. Nicole Martin, further illustrate the dynamic nature of this market.
Sources
- Billionaire Jose Mas Buys Waterfront Lot in Coral Gables, The Real Deal.