MasTec CEO Acquires $14.9M Waterfront Lot in Gables Estates
Jose Mas, billionaire CEO of MasTec and Inter Miami co-owner, purchased a one-acre waterfront property in the exclusive Gables Estates community. The acquisition reflects continued luxury market activity among South Florida's wealthy elite.
MasTec CEO Jose Mas has acquired a prime waterfront lot in Coral Gables' exclusive Gables Estates for $14.9 million, marking another significant real estate transaction by the billionaire's family in South Florida's luxury market.
The one-acre property at 9175 Arvida Parkway was sold by a company led by developer Humberto Ramirez, who had purchased the lot for $10.4 million in 2023 from Leon Medical Centers CEO Benjamin Leon III. Ramirez expressed satisfaction with the offer, having realized a substantial profit on the investment within two years.
Mas, who co-owns Major League Soccer franchise Inter Miami, plans to construct a custom mansion on the waterfront site. He has retained architect Cesar Molina of CMA Design Studio to design the new residence, according to the seller.
The transaction was facilitated by Eddy Rengifo of Avanti Way Realty, who co-listed the property with Ramirez. Roxanna Urban of One Sotheby's International Realty represented Mas in the purchase.
This acquisition continues a pattern of high-value real estate activity within the Mas family. Between December and January, Jose's brother Jorge Mas completed several major transactions, including the sale of a Coconut Grove waterfront lot for over $100 million and his former Coral Gables mansion for $32 million. Jorge simultaneously purchased a newly completed waterfront mansion in Gables Estates for $75 million.
The brothers are prominent figures in South Florida business, with Jorge serving as chairman and co-founder of MasTec while also holding the position of managing owner of Inter Miami CF, the soccer team partially owned by David Beckham.
Gables Estates has become a focal point for luxury real estate speculation and renovation. In April, attorney Anthony Lopez and his fiancee, former "Real Housewives of Miami" star Dr. Nicole Martin, demonstrated the market's strength by selling their renovated mansion at 33 Arvida Parkway for $55 million. The couple had purchased the property just eight months earlier for $34 million, realizing a $21 million profit on their investment.
The rapid turnover and substantial profits in Gables Estates reflect broader trends in South Florida's luxury market, where wealthy buyers from the West Coast and Northeast continue to drive demand. The gated community's waterfront properties offer privacy and prestige that appeals to high-net-worth individuals seeking primary or secondary residences in the region.
Real estate professionals point to these transactions as indicators of sustained confidence in luxury spec and renovated home markets throughout South Florida's most exclusive neighborhoods.
