Irving Padron and Cesar Molina sold a waterfront mansion in the Old Cutler Bay community of Coral Gables for $36 million, according to an April 14 announcement. The property at 9360 Gallardo Street was purchased by a trust managed by attorney Daniel Bensimon.
The sale highlights the ongoing demand for luxury, turnkey waterfront homes in Coral Gables, where agents say limited supply is pushing prices higher. The home was developed by Padron, founder and CEO of Deering—a real estate development and investment firm—and designed by Molina, who leads CMA Design Studio and operates CMA Homes.
Padron and Molina acquired the half-acre property in 2021 for $5.1 million before beginning construction on the 8,600-square-foot residence in 2023. The finished home features six bedrooms, eight bathrooms, two half-bathrooms, a pool, and 138 feet of water frontage with a dock. According to CMA Homes’ website, the house was never publicly listed; listing sites confirm that the transaction closed off-market.
Coral Gables has seen several notable luxury sales recently. Earlier this month, Lauren Sturges sold her Tahiti Beach waterfront mansion for a record $32 million. In March, billionaire Michael Dorrell sold his estate to developer Alex Pirez for $35 million off-market. In February, former Yankees player Derek Jeter sold his local mansion for $13.2 million—almost double what he paid in 2018.
The recent string of high-value transactions underscores Coral Gables’ status as a center of luxury real estate activity.
