Concrete mogul sells waterfront home in Miami’s Bay Point for record price to West Coast buyer
Adonel Concrete’s chairman and CEO Luis Garcia sold his waterfront home in Miami’s Bay Point neighborhood for $27.3 million, a deal that’s reflective of the massive transformation the luxury home market has gone through over the past decade-plus. Garcia listed the home at 790 Lake Road for $10 million in 2016, but he also had an offer if a buyer wanted a new house: pay $15 million for it. (Garcia purchased the property for just $2 million in 2012.) Instead, he waited, and it paid off: The post-pandemic market raised prices dramatically as demand skyrocketed for bespoke luxury homes on […]This article originally appeared on The Real Deal. Click here to read the full story.
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