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A storybook setting is the site of this week’s most expensive new listing on realtor.com®. Located in Coral Gables, FL, the plantation-style contemporary just came on the market for $45 million.

Built in 2006, the 17,000-square-foot waterfront property on 3.35 acres is known as El Palmar. 

The “truly unique residence” is located “in the heart of Coral Gables on one of its largest waterfront properties,” the listing notes. The owners picked up the land in 2001 for just $4.25 million, according to property records. While they apparently invested millions in the new build, the list price will surely compensate them well.

Two-story entry

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Living room

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Eat-in kitchen

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In-house pub

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Large pool

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Covered deck

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The serene spot is 15 minutes south of Miami, offering a quiet retreat after a night out in South Beach.

The property was designed by architect Cesar Molina and landscape artist Raymond Jungles and features manicured grounds with native species, a koi pond, and pathways made of coral harvested on site.

The home has nine bedrooms, 11.5 baths, an open family room, library, kitchen, pub-style bar, living room with fireplace, 2,000-bottle wine cellar, private service wing, and elevator. 

There’s a guesthouse, summer kitchen, pool, and boathouse out back. The property comes with 35 feet of water frontage and an inlet for watercrafts. 

Dennis Carvajal of One Sotheby’s International Realty holds the listing.

The post Coral Gables’ $45M El Palmar Is This Week’s Most Expensive New Listing appeared first on Real Estate News & Insights | realtor.com®.

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