The Coral Gables mansion of developer Don Peebles and his wife Katrina has re-listed for $12.9 million after previously hitting the market in May 2016 asking $15 million.
Located on Old Cutler Road, the massive 15,668-square-foot estate features 100 oak trees surrounding its winding driveway and the property measures just under three acres. The Mediterranean residence has ten bedrooms, 12 bathrooms, his and hers offices, a home theater, a game room, a gym, and a full tennis/basketball court.
Their reason for selling, according to listing agents Lourdes Alatriste and Irving Padron of Engel & Völkers, is because the Peebles’ daughter is pursuing her equestrian career and they want to live closer to where she rides. The property last sold in 2004 for $5.45 million.
"What makes this estate so unique is that it was designed to host lavish affairs on a grand scale,” Alatriste said. “Notable guests include celebrities and politicians such as the Clintons and Obamas, among others. It is the home with the largest lot size currently for sale in Miami's ultra-luxury neighborhoods.”
Peebles is Founder, Chairman and CEO of The Peebles Corporation, a privately-held national real estate investment and development company. Last year he was considering a run for mayor of New York City.
The Wall Street Journal was the first to report the news.