The home located at 6801 Pullen Avenue in Coral Gables just sold for $6,025,000.
This property originally hit the market back in 2010 for a list price of $6,500,000. The home offered 5,157 square feet of living area with 4 bedrooms, 4 baths on a 31,304 square foot lot. It was marketed as a renovation project and/or land value. Over the years they raised the price to $7,500,000 then lowered it back down to $7,100,000, $6,999,000 and finally $6,495,000. This was a unique property for Coral Gables because it was direct-bay front with 121 feet of water frontage, however it was not located in a gated community. Most direct bay-front homes in Coral Gables are in Cocoplum, Gables Estates, Sunrise Harbour, Gables By The Sea, etc. But Pullen Avenue in Coral Gables is between North Prospect and South Prospect and not in a gated community. That presented some difficulty in the sale of the home because there aren’t too many buyers who are willing to pay upwards of $6,000,000 for a non-gated community home that needed torn down or renovated.
At $192.00 per square foot of land, the house sold for approximately the same price that a similar direct bay-front lot sold for in the nearby gated community of Sunrise Harbour (6975 Sunrise Terrace closed for $187.00/square foot).
**This is the first home sold over $5,000,000 in the past 90 days in Coral Gables.
Listing agent was Dennis Carvajal of One Sothebys.
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