Lauren Sturges sold her waterfront mansion at 12 Tahiti Beach Island Road for $32 million, setting a new price record for the gated Tahiti Beach neighborhood in Coral Gables, according to an April 1 report. The property was purchased by a trust named after the address. Dora Puig of Luxe Living Realty handled the listing, while Alex Pirez, broker and owner of Mocca Realty, represented the buyer.
The sale is significant as it surpasses previous records within Tahiti Beach and reflects ongoing demand for luxury real estate in Coral Gables. The area has become known for high-value transactions involving waterfront estates.
Pirez is recognized as a spec developer with several luxury projects in Miami. Last year he sold another Coral Gables mansion for $55 million, which also set a record at that time. Sturges is the widow of Charles M. Fernandez, who served as CEO of ecommerce firm NextPlat from 2021 until his death last year; she remains on the company’s board.
The couple originally bought the property in 2008 for $9.2 million. Built in 1994 on nearly one acre of land, the home spans approximately 10,400 square feet and features six bedrooms, seven bathrooms, two half-bathrooms, a pool and a dock.
While Sturges listed the house most recently at $40 million this March according to Zillow data cited in records, it ultimately sold for $8 million less than that asking price but still achieved an increase of over twofold compared to its last sale price.
Previously William McKinley Osborne III held the neighborhood’s sales record when he purchased a beachfront estate there for $28.9 million in 2021. In recent months other notable deals have occurred nearby: Australian billionaire Michael Dorrell sold his estate for $35 million and music artist The Weeknd bought a compound in Gables Estates for $50 million.
