The Weeknd has purchased a waterfront mansion in the gated Gables Estates community for $50 million, setting a new record for the most expensive home sale in Coral Gables. The transaction for the property at 41 Arvida Parkway was confirmed by brokers, though the deed has not yet appeared in public records.
Earlier this month, The Real Deal reported that The Weeknd, whose legal name is Abel Makkonen Tesfaye, was under contract to buy the property, which had been listed for $54.9 million. Eddy Martinez and Roland Ortiz of One Sotheby’s International Realty represented the listing; Ortiz also brought the buyer. Both declined to comment on the identities of those involved.
The Canadian singer-songwriter is known for his four Grammy wins and his performance at the Super Bowl halftime show in 2021. He also created and starred in HBO’s “The Idol” with Lily-Rose Depp in 2023. In 2021, he bought a mansion in Los Angeles’ Bel Air neighborhood for $70 million.
Steven Lempera, an oil recycling businessman, sold the Gables Estates property after buying it at auction in 2019 for $25.5 million. Records indicate that the nearly 19,000-square-foot mansion was built in 2018 and features eight bedrooms, nine bathrooms, two half-bathrooms, a pool, and a dock.
Lempera initially listed the home for $49.9 million in 2020 and adjusted its price several times over five years before relisting it at $54.9 million this June. According to Redfin data, the estate went pending in September.
This sale surpasses Coral Gables’ previous residential price record set by a $45.3 million transaction at 650 Casuarina Concourse in 2022. That buyer was linked to billionaire Ken Griffin through a Delaware entity.
Since the pandemic began, South Florida has seen increased demand from wealthy buyers relocating to the area, leading to multiple high-value real estate deals across prominent neighborhoods. Earlier this month, Barstool Sports founder Dave Portnoy set another record with his purchase of a waterfront Islamorada mansion for $27.8 million.
