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Large chunk of Miami dirt seeks $24M

Owned by a billionaire

An aerial of a lot for sale at 8525 Old Cutler Road, Coral Gables
via Trayor Lesnock of Platinum Venture Holdings

A $20 million listing is far from an irregularity for Miami, a city booming with lavish waterfront homes along its canals, bay, and ocean.

After all, there are currently over 50 homes on the market asking that number or more. However, it’s not every day you see a lot asking that amount—$24 million to be precise.

Yes, this sprawling waterfront chunk of prime dirt in Coral Gables, located off Old Cutler Road, is among the 40 priciest residential properties for sale in Miami-Dade County. It measures over three and a half acres, per the listing, which also states it’s the largest waterfront residential parcel available in the county.

Among its greatest selling points is the 430 feet of deep-water canal dockage, essentially allowing its next owner to dock his or her mammoth superyacht with zero concerns over fit. There’s even a drone video for the houseless listing and an aptly-named website url of “WaterfrontMegaLot.com.”

Public records show the property last sold for $15 million in 2015 to Ashar Aziz, the founder of cybersecurity firm FireEye. Don’t worry, Mr. Aziz isn’t homeless in Miami. The billionaire also owns a mansion around the corner.