Don Peebles lists Coral Gables estate
Investor and developer Don Peebles just listed his Coral Gables estate for $12.9 million.
Peebles and his wife Katrina want to sell their property at 11501 Old Cutler Road to be closer to Wellington, where their daughter is pursuing her equestrian career, according to listing agent Lourdes Alatriste of Engel & Völkers Miami.
The 10-bedroom, nearly 16,000-square-foot mansion sits on a gated, 2.87-acre lot on Old Cutler Road with 100 oak trees that surround a winding driveway. The Mediterranean-style estate has hosted celebrities and politicians, including the Clintons and Obamas, according to the brokerage. Alatriste is listing the home with Irving Padron, managing broker.
Peebles, who heads the Coral Gables-based Peebles Corp., and his wife paid $5.45 million for the property in 2004 and put millions into renovating it. It features a private dining room for up to 20 guests, a home theater, game room, gym, private guest suite, 12 bathrooms, a pool, two garages and tennis courts/basketball courts.
Alatriste said she plans on marketing the property to large families who want to be near schools like Ransom Everglades and Gulliver Schools, including buyers from Mexico, Brazil and those living in areas impacted by recent hurricanes, like Puerto Rico.
Earlier this year, Peebles listed the historic Bath Club building in Miami Beach, also with Padron. Two years ago, his company sold a nearby development site to China City Construction Company and American Da Tang Group for $38.5 million. He planned a 15-story condo tower on the property, but decided to shift his focus to projects in the Northeast, including in New York, Boston and Washington, D.C.
Source: The Real Deal