A waterfront mansion in the Tahiti Beach neighborhood of Coral Gables sold for $32 million, setting a new price record for the gated community, according to an April 1 announcement. Lauren Sturges, widow of businessman Charles M. Fernandez, sold the property at 12 Tahiti Beach Island Road to a trust named after the address.
The sale is significant as it marks a milestone in Coral Gables’ growing luxury real estate market. The home was listed by Dora Puig with Luxe Living Realty and purchased through Alex Pirez of Mocca Realty, who represented the buyer. Pirez is known locally as both a broker and spec developer involved in high-end Miami projects.
Property records show that Sturges and Fernandez bought the mansion in 2008 for $9.2 million. The residence spans 10,400 square feet on nearly one acre and features six bedrooms, seven bathrooms, two half-bathrooms, a pool, and a dock. Built in 1994, it was originally listed for $20 million in 2017 but most recently had an asking price of $40 million before selling at its current figure.
The sale price represents an increase of about 248 percent from its last transaction and surpasses previous records within Tahiti Beach—a private section inside Cocoplum—where William McKinley Osborne III set the prior high with his purchase of a beachfront estate for $28.9 million in 2021.
Coral Gables has seen several notable luxury sales recently: Australian billionaire Michael Dorrell sold his home there last month for $35 million; musician The Weeknd acquired a compound in nearby Gables Estates for $50 million; and John Ruiz, CEO of MSP Recovery, listed another local property at $175 million earlier this year.
These transactions reflect Coral Gables’ emergence as an area attracting ultra-luxury buyers seeking exclusive waterfront estates.
