Relations bought their late dad and mom’ waterfront teardown in Gables Estates for $17.3 million, a yr after itemizing it for $21.5 million.
Data present Ricardo Pines Altuna, Gustavo Pines Altuna and Francisco Pines Altuna bought the mansion at 8805 Arvida Drive to Arvida Hilltopper LLC, a Florida entity managed by Ammer Cabrera.
Lourdes Alatriste with Douglas Elliman had the itemizing, and Dexter Brandao with Chez Realty introduced the client.
The sellers are the sons of the late Ricardo Pines and Elba Altuna de Pines, Venezuelans who immigrated to Miami in 1980 and invested in actual property and agricultural companies, in line with their obituaries. They died in 2023 and 2024, respectively.
They purchased the waterfront Gables Estates mansion for $1.4 million in 1982, property information present. It was constructed on 1.7 acres in 1959 and spans 10,200 sq. toes, with six bedrooms and 6 bogs, in line with information. It was marketed as a chance to renovate or construct a brand new residence.
The household listed it for $21.5 million final yr, promoting it at a $4.2 million low cost, in line with Zillow.
It marks the most recent dear closing in Gables Estates, a gated neighborhood favored by luxurious patrons in Coral Gables. In August, Goya Meals scion Francisco R. Unanue bought a 1-acre waterfront lot to spec developer Alex Pirez for $18.5 million. In July, the CEO of a lending agency and a cosmetics mogul bought their mansion within the neighborhood for $27.5 million. The month prior, magnetics inheritor Geert-Jan Bakker dropped $23.5 million on a mansion, after promoting his Indian Creek Village property for $64.5 million.
