Waterfront Gables Estates lot, once home to UMiami presidents, trades for $42M
The hidden owner of a waterfront lot in the exclusive Gables Estates community sold the property for $41.6 million, likely breaking even or losing money on the investment. Property records show 8565 Old Cutler LLC, managed by Logan Gans, sold the 4.6-acre property at 8565 Old Cutler Road in Coral Gables. Miami Real 1 LLC purchased the lot. The seller paid $38 million for the home, a teardown, in 2022. A notice of commencement to demolish the home was filed last year by Mutchnik Construction Group. With annual property taxes of the past three years totaling more than $1.7 million, […]This article originally appeared on The Real Deal. Click here to read the full story.
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