Who Is Going To Buy Alan Potamkin’s Coral Gables Estate For $47.5 Million?

It’s the house that has everything for the person who has everything. Yes, Car King Alan Potamkin has relisted his sprawling Gables Estates waterfront mansion for a whopping $47.5 million.

Before you drop your jaw on the price tag, let it be known that this is actually a $20 million reduction from the $67 million they were seeking last year. After nobody raised their hand and said, “Me!” the price was slashed to $49 million for the house and half of the land.

The lot is actually two separate lots that are combined to make up a 3.6 acre estate with 937 feet of ocean frontage. Talk about a compound! They ended up at $39 million before regrouping and coming back to the market this week. Today’s asking price of $47.5 million includes the house and all of the land.

The house has over 20,000 square feet of interior living space with 9 bedrooms, 10 bathrooms and 5 powder rooms. There is also an 8 car garage, with enough driveway space for everyone except Gil Dezer. There are several kitchens as well, in case you want to switch things up from time to time. There’s enough space that you could essentially move your family to another area of the house and it would feel like an entirely new home, except you never left your house.

Some of the bells and whistles that come along with the estate are 2 built-in saltwater aquariums, an aviary, his and hers libraries, a billiard room, boxing room, gym, massage room, nanny’s quarters, nursery/play room, guest house and a property tax bill of almost $400,000.

Last year, Forbes made a slideshow of the estate’s pictures, seeming very impressed by the decorative ceilings. They forgot to mention the ceiling in the billiard room, which is hideous. A drop ceiling with florescent lighting has no place in a $47 million estate. Not even in the garage. Just, no. Take it down and make it stop. The drop ceiling looks like a suburban McMansion that is aspiring to be a notable piece of Miami real estate. In my opinion, the animal murals need to go too, but I guess we all have our own taste.

Outside, the lot has a resort-like feel with a pool and Jacuzzi overlooking the Atlantic Ocean, a private beach, fire pit, tennis court, a lagoon, and a boat dock. There are several patios and terraces on the house, perfect for luxurious soirees or a quiet evening with a candlelit dinner and a view.

I’m wondering who could be the next owner of the property. It is rumored that Lebron was considering it when he took his talents to South Beach, but he’s gone now. Wade is gone too and Bosh is hurt, so I doubt a Miami Heat player will step in. We already said that there’s not enough parking for Gil Dezer, so he’s out. It has been reported that Lil Wayne is looking to take his talents off of South Beach after being repeatedly swatted (when someone calls 911 on you and sends the entire police force to your house, only to find out you’re still in bed). Maybe a Miami season of the Bachelor? There are certainly enough bedrooms for the suitors & scene locations on the estate. Or maybe the person who invented The Bachelor. We’ll see. In the meantime, check out the pictures below.

Drone Footage of the One Thousand Museum Construction Site

Below is a drone video of the One Thousand Museum construction site as of this past Monday, September 5th, the date that the footage was shot. It showcases the breathtaking views that condos at One Thousand Museum will offer as well as provides a bird’s-eye view of the progress that has been made thus far to the tower.

One Thousand Museum Construction Tour

Enjoying the view from One Thousand Museum with developer Gregg Covin

Yesterday morning, I was given the opportunity to tour the One Thousand Museum construction site with co-developer Gregg Covin. It was quite a treat to finally step foot inside a development that I have followed so closely over the past three and a half years. As a resident of Park West, I walk and drive by the One Thousand Museum construction site on a daily basis; to admire its impressive form from the street is one thing, but to tour it and see the building’s lines and curves from the inside looking out is quite another.

As of yesterday morning, construction at One Thousand Museum had reached the 19th floor. While on my guided tour, I was permitted to go as high as the 15th floor. Even from just the 15th floor, however, the views were breathtaking. Along with three townhouse units, each with impressive 20-foot ceilings in the living and family rooms, I also had a chance to tour two half floor residences, one located on the south side of the building and the other on the north side. When viewing the half floor residence located on the north side of the building, I was pleasantly surprised by the amount of separation the residence had from its neighbors to the north at Ten Museum Park. From street-level, One Thousand Museum and Ten Museum Park are just about connected, but the residences themselves have good separation due to the pools that wrap around at the top of each building’s pedestal.

If all goes according to plan, One Thousand Museum will be topped off this time next year. While touring the building yesterday, Covin shared with me that hopes to top-off the building by August 2017 and then obtain a TCO about 13 months thereafter. Until then, One Thousand Museum is a masterpiece in the making.

southeast corner townhouse unit

overlooking the living room with 20-foot ceilings

second level of southeast corner townhouse

touring a half floor residence

overlooking Museum Park

view east from 1000 Museum

terrace

southeast view from One Thousand Museum

getting the lay of the land from developer Gregg Covin

northeast corner

half floor residence on the north side

a picture-perfect day!

the pools create nice separation between residences on the north side

overlooking the pool on the west side of 1000 Museum

southwest corner townhouse – 10th floor

southeast corner townhouse – 10th floor

southwest corner terrace

northeast corner terrace at 1000 Museum

Al Capone’s Miami Beach Compound Has Sold to European Soccer Agent Mino Riaola for $9M

Previous listing photo.

The Miami Beach compound mobster and Mr. #1 on the FBI’s Most Wanted List, Alphonse Capone lived, and died in, when not in Chicago, has sold to European soccer agent Mino Riaola for an estimated $9 million. The actual amount has apparently not been made public. The house is located at 93 Palm Avenue, on Miami Beach’s Palm Island. Although the Miami Herald broke the news, the story appears to have been taken down from the paper’s website, which is a little odd. Curbed Miami reblogged it in time, however.

The Palm Island waterfront home was saved from a desperate state and likely destruction and restored to something closer its original appearance by its former owner, who listed the restored house in 2012 for $10 million, had trouble selling it for years, took it off the market to use as some kind of event/film venue, and by now is probably glad to be rid of it. That’s pretty unfortunate because, even though it is kind of an odd house, with a scandalous reputation, it’s still fantastically historical, and still classy. I covered the house frequently while Curbed, so check out their archives. Hopefully Riaola will take care of the house as it deserves to be taken care of, and correct a few of  the mistakes in the renovation. As I noticed during a tour of the house a few years ago with my friend Dana Herndon, who wrote this excellent piece for Curbed on the house, although the renovation undoubtedly saved the house, it appeared at the time to have been done on the cheap.

Trump Palace Unit 3604 – Repriced to Sell Quickly

Trump Palace #3604 is back on the market and repriced to sell quickly; now asking $2.1M. Unit 3604 is an impeccably designed, contemporary masterpiece with $800,000 spent in renovations, furniture, and electronics. The luxurious, flow-through residence includes 3 bedrooms, 3.5 bathrooms, 2,167 interior square feet plus 2 spacious balconies, and offers direct, breathtaking views of the Atlantic Ocean and intercoastal waterway. Property features include: private elevator; Sonos sound system; 10-foot high ceilings with floor-to-ceiling windows; and renovated kitchen; master bathroom; and half bathroom. Unlimited valet parking included.

Trump Palace is located at 18101 Collins Avenue in Sunny Isles Beach, Florida. The luxury tower rises 55 stories and has 267 total condo residences. Amenities at Trump Palace include: 1,000 feet of beachfront, temperature-controlled Lagoon pool, two lap pools, Jacuzzis, waterfalls, bar and grill, full-service concierge, two-story spa and fitness center, and men’s and women’s sauna and steam rooms.

For showing requests, please contact Lucas Lechuga at [email protected].

Check Out Construction at Privé, Which Has Topped Off & Finishes Next Summer

Photos by Sean McCaughan.

On Thursday, we at Miami Condo Investments went to check out the construction progress at Privé at Island Estates. The twin 16-story towers, designed by Sieger Suarez, reached their full heights on the 27th, which the project announced on its Facebook page. Both of them. So, what else to say about these twinsies?

Well, they are on their own private island behind three levels of security. First you enter Williams Island in Aventura, then the gatehouse at Island Estates, which is an island off Williams Island, and  finally, the security of Prive itself. Every unit has private elevator access, which means views to the east and west, and often north and south as well. Being on an island, in the middle of its bay, Alcatraz-style, Prive has really expansive views south to Miami and Miami Beach, east to the ocean, and north to the rest of Aventura. It will also have a marina, two pools, a tennis court, a children’s playroom, a jogging trail, a nature path, a private jetty, and expansive indoor and outdoor public spaces. The indoor public spaces alone will total approximately 70,000 square feet, with huge fitness centers and spas in each tower, social rooms, teen social lounges, a private dining room, a wine room and cigar lounge, a business center, and guest suites.

Privé is scheduled to be completed next summer, and is currently over 60% sold. Units range from 2,621 square feet and up, and are selling for about $850 per square foot to over $1,200. And yes, the sidewalk permit situation is all taken care of.

Calvin Klein’s $16 Million North Bay Road House is Still on The Market

What’s going on Calvin? News broke over a year ago that fashion mogul Calvin Klein’s North Bay Road home in Miami Beach was hitting the market for $16 million because Mr. Klein was up and leaving Miami and going to L.A. That was May of 2015. Fast forward to now, over 400 days later, and the historic Mediterranean Revival house is still owned by Klein, still on the market, and still listed at $16 million. What gives?

Check Out Fendi Chateau, Which is Almost Sold Out and Almost Done, From a Drone

Fendi Chateau Residences, a luxury condominium tower in Surfside, is almost finished, with completion expected in August or September. It’s also 88% sold out. Seen from our drone, the blue glass facade creates a fluid effect that could blend ocean and sky if not for the overwhelming chunky white columns that appear to bracket the building to the ground. Designed by Arquitectonica and developed by the Chateau Group, Fendi Chateau is one of those branded buildings aligned with a lustful and luxurious names that has nothing to do with real estate.Does your unit come with a Fendi ‘Baguette’ purse? No. It will, however, have a Fendi Casa kitchen. So, check out the full drone video below.

Nicely Updated Deco Delight on Sunset Island III Wants $3.9 Million

This Art Deco hacienda on Sunset Island III is listed for $3.9 million, and pretty darn gorgeous. Originally designed by the noted deco architect Martin Hampton in 1939, the house maintains most of its deco integrity, including a fireplace, terrazzo floors, and seductive curves (although it has admittedly lost a few things over the years, like the bathrooms). Overall a good show.