Global music superstar The Weeknd, known for his chart-topping hits, has reportedly purchased a stunning waterfront mansion in Coral Gables, Florida, for a staggering $54.9 million. This significant real estate transaction not only adds a luxurious property to the artist’s portfolio but also sets a new record for residential sales in the exclusive Coral Gables area, highlighting the growing appeal of South Florida as a prime destination for high-profile individuals and luxury living.
Key Takeaways
- The Weeknd, whose real name is Abel Tesfaye, has purchased an 8-bedroom, 9.5-bathroom waterfront mansion.
- The property is located in the exclusive Gables Estates community in Coral Gables, Florida.
- The sale price of $54.9 million sets a new record for residential sales in Coral Gables.
- The mansion boasts 19,000 square feet of living space and sits on 1.5 acres with extensive waterfront.
A Record-Breaking Acquisition
Pop icon The Weeknd has reportedly entered into a contract to purchase a lavish waterfront mansion in the exclusive Coral Gables neighborhood of Florida for $54.9 million. This acquisition is making headlines not only for the celebrity buyer but also for setting a new benchmark in the South Florida real estate market. The deal is considered the most expensive residential sale in Coral Gables history, surpassing the previous record of $29.5 million.
The Lavish Estate
The expansive mansion, situated at 41 Arvida Parkway, offers eight bedrooms, nine full bathrooms, and several half-baths across approximately 19,000 square feet of living space. The property is nestled on 1.5 acres within a unique V-shaped peninsula, providing panoramic views of Biscayne Bay, the Miami skyline, and Atlantic Ocean sunrises. A significant feature of the estate is its expansive dock, capable of accommodating a 200-foot megayacht.
Exclusive Community and Lifestyle
Coral Gables, and specifically the Gables Estates community, is known for its luxury and exclusivity. The area has recently been recognized as one of the nation’s most expensive neighborhoods. The Weeknd’s new home is in a community that already boasts high-profile residents, including Derek Jeter and Pharrell Williams. Real estate professionals note that the appeal of Coral Gables lies in its blend of grand estates, lush landscapes, family-oriented atmosphere, proximity to amenities like Coconut Grove’s dining scene, and a less fast-paced lifestyle compared to Miami Beach.
South Florida’s Growing Appeal
This high-profile purchase underscores a broader trend of affluent individuals and businesses relocating to South Florida. Factors such as lifestyle, favorable tax environments, and an overall attractive living environment are contributing to the region’s increasing prominence. Coral Gables, in particular, is lauded for its walkability, culture, and amenities, solidifying its status as a desirable location that rivals even traditionally affluent areas like Beverly Hills.
Sources
- The Weeknd buys $54.9M Coral Gables mansion in record-breaking deal, Fox Business.
- Photos: The Weeknd buys $50 million Florida mansion, Orlando Weekly.