See Home Value
$6,865,644*
House - Off Market

1242 Coral Way

Coral Gables, FL 33134
bedrooms
6 Beds
bathrooms
8 Baths, 1 Half Bath
square feet
8487 Sqft
$4,950,000 - $6,050,000
Reference Base Price*
24.83%
Since Dec 1, 2021
FL-Miami
Primary Model
Sold Jan 26, 2022
$5,395,000
$3,037,500 by Silicon Valley Bank
Mortgage Due Feb 01, 2052
Sold Jan 23, 2012
$792,500

About This Property

Extraordinary new construction estate located on historic Coral Way, near Biltmore Hotel & in proximity to prestigious private schools & upscale dining/shopping at Merrick Park. This impressive home sits on a gated 17500 sf lot, featuring a grand foyer entry w/ exposed wood beam ceiling, formal living & dining rm each w/ an elegant stone encased fireplace. Gourmet kitchen w/ custom flr to ceiling exquisite cabinetry, butler's pantry, SubZero & Wolf appl & 150 bottle wine cooler. Master suite offers private his & her baths, steam shower, & large terrace. Discover ample rm w/ an upstairs den & private guesthouse w/ separate entrance. Outdr living w/ covered patio, summer kit, & saltwater pool/spa. Add'l Features: elevator ready, pre-wired smart home, imp windows/drs, carport & 2 Car gar.

The manager has listed the unit size as 8487 square feet.
Unit Size
8,487Ft²
Days on Market
-
Land Size
0.40 acres
Price per sqft
$648
Property Type
House
Property Taxes
$1,336
HOA Dues
-
Year Built
2022

Price History

Date / Event Date Event Price
Jan 26, 2022 Sold to Catherine D Sim, Edward Sim $5,395,000
Sold to Catherine D Sim, Edward Sim
Nov 6, 2021 No longer available -
No longer available
Sep 25, 2021 In contract -
In contract
Apr 29, 2021 Relisted $5,500,000
Relisted
Apr 28, 2021 No longer available -
No longer available
Show More

Property Highlights

Fireplace
Air Conditioning
Parking Available
Garage

Building Info

Overview

    General

  • Year Built: 2022
  • Building Count: 1
  • Bedroom Count: 6
  • Bathroom Count: 7
  • Full Bathrooms: 6
  • Partial Bathrooms: 7
  • Exterior Walls Type: Concrete block
  • Floor Count: 2
  • Basement Area: 0
  • Parking Space Count: 0
  • Pool Type: Pool & spa (both)

    Dimensions

  • Lot Size Square Feet: 17,500
  • Lot Size Depth Feet: 1,750
  • Lot Size Frontage Feet: 1,000
  • Total Building Area: 7,870
  • Gross Building Area: 7,870
  • Building Area: 5,688
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: unknown
  • Heating: unknown
  • Heated Square Feet: 5,688
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: CORAL GABLES
  • Land Acres: 0.402
  • Standard Land Use Code: Single family residential
  • Legal Description 1: CORAL GABLES SEC D REV PL PB 25-74 LOTS 7 & 8 BLK 1 LOT SIZE 100.000 X 175

Ownership

  • Current Owner : SIM CATHERINE D
  • Current Owner 2: SIM EDWARD
  • Previous Owner : 1248 CORAL WAY LLC
  • Owner Before Previous Owner: UNITED STATES OF AMERICA
  • Is Owner Occupied: Owner-occupied property

Neighborhood

  • School District Name: Dade County School District
  • School Tax School District: CORAL GABLES
  • Census Tract: 006104

Zoning

  • Zoning: 0100

Geography

  • Assessors Map Reference: 254
  • District: 03
  • Parcel: 03-4118-002-0031
  • Block: 1
  • Lot: 7,8
  • Meridian: SEC 18 TWN 54S RNG 41E
  • Municipality: CORAL GABLES
  • Latitude: 25.7485
  • Longitude: -80.2807

    Address

  • Full Address: 1242 Coral Way
  • Address - House Number: 1242
  • Address - Street Name: Coral
  • Address - Suffix Type: Way
  • State: FL
  • City Name: Coral Gables
  • Carrier Code: C020
  • 4-Digit Zip Code: 4770
  • Zip Code: 33134

Valuation

    Tax

  • Total Area: 6,264
  • Tax Year: 2023
  • Tax Amount: $82,115
  • Tax Rate Code Area: 300

    Appraisal Valuation

  • Standard Deviation: 0.1354
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 84
  • Final Value: 7,251,155
  • High Value: 8,233,571
  • Low Value: 6,268,740

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $3,037,500
  • First Open Lien Mortgage Lender: SILICON VALLEY BANK
  • First Open Lien Mortgage Recording Date: Jan 26, 2022
  • First Open Lien Mortgage Financing Type: Adjustable Rate
  • First Open Lien Mortgage Loan Amount: $3,037,500
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: Feb 01, 2052

    Market Valuation

  • Market Total Value: $4,471,080
  • Market Land Value: $1,575,423
  • Market Improvement Value: $2,895,657

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $4,471,080
  • Assessed Land Value: $1,575,423
  • Assessed Improvements Value: $2,895,657

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Jan 20, 2022
  • Current Sale Recording Date: Jan 26, 2022
  • Current Sale Transaction ID: 11879438749
  • Current Sale Price: $5,395,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 73415
  • Previous Sale Recording Date: Jan 23, 2012
  • Previous Sale Contract Date: Jan 20, 2012
  • Previous Sale Amount: $792,500
  • Previous Sale Document Type: Special Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: SILICON VALLEY BANK
  • First Mortgage Transaction Date: Jan 26, 2022
  • First Mortgage Loan Amount: $3,037,500
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: Feb 01, 2052

    Financing

  • First Mortgage Financing Type: Adjustable Rate



Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
6 Beds
6.5 Baths
5,044 ft²
$1,307/ft²
$6,595,000 Feb 17, 2023
-
$2,234/mo
House
6 Beds
6.5 Baths
4,857 ft²
$927/ft²
$4,500,000 Mar 17, 2023
-
$3,449/mo
House
6 Beds
6 Baths
4,496 ft²
$1,101/ft²
$4,950,000 Apr 4, 2023
-
$2,545/mo
House
5 Beds
5.5 Baths
6,044 ft²
$844/ft²
$5,100,000 Feb 11, 2023
-
$3,844/mo
House
7 Beds
7 Baths
6,330 ft²
$930/ft²
$5,890,000 Mar 31, 2023
-
$3,006/mo
House
5 Beds
5.5 Baths
5,090 ft²
$933/ft²
$4,750,000 Aug 18, 2022
-
$1,233/mo
Condo
4 Beds
4.5 Baths
3,539 ft²
$1,582/ft²
$5,600,000 Apr 8, 2023
-
$8,139/mo

About Coral Gables Section


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Nearby Rentals

Unit for rent at

$15,995 /mo

  • 4 Beds
  • 4.5 Baths
  • 4,383 ft²
Listing by Nicholas Ekonomou


Frequently Asked Questions

When was property at 1242 Coral Way built and last sold?
The property at 1242 Coral Way was built in 2022 and last sold on Jan 20, 2022 for $5,395,000.
How much is this home worth?
The estimated value of the home located at 1242 Coral Way is $5,555,000.
What are some comparable homes to 1242 Coral Way?
There are currently no comparable homes to 1242 Coral Way.

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