231 Costanera Rd Coral Gables: Exceptional $12M Mediterranean Waterfront Estate with Private Dock

Date of Publishing: September 28, 2025

Hidden inside the coveted Cocoplum community, 231 Costanera Rd is a Mediterranean waterfront masterpiece that blends timeless architecture with modern upgrades. Priced at $12 million, this extraordinary home in Coral Gables for sale delivers every element of a grand South Florida lifestyle, from private dockage to resort-style entertaining spaces. With five bedrooms, six baths, and 5,442 square feet of refined interiors on a 0.36-acre lot, it offers the rare balance of intimacy and scale sought by today’s luxury buyers.

Luxury Mediterranean waterfront estate at 231 Costanera Road Coral Gables with private dock, $11.98M home featuring pool, lush landscaping, and elegant design

Refined Architecture and Bespoke Interiors

Originally built in 2001 and extensively renovated to meet current tastes, the residence reflects the enduring appeal of Coral Gables real estate. A stately facade of soft stucco and barrel-tile roofing introduces interiors marked by checkered marble, warm hardwood floors, and soaring ceilings. Sunlight pours through arched windows and French doors, creating a play of light and shadow that highlights the home’s elegant proportions.

Listing agent Jill Eber of Coldwell Banker Realty told Luxury Houses Magazine that the owners “wanted to preserve the home’s classic Mediterranean character while updating it for a new generation of entertaining.” Her colleague Nathan Zeder added, “From the music room to the private dining salon, every space has been reimagined to feel both gracious and livable.”

The main level flows effortlessly from a formal entrance foyer to a music room and on to a private dining room, creating a sense of occasion for both grand parties and intimate gatherings. The chef’s kitchen showcases Wolf, Miele, and Sub-Zero appliances, custom Ital Kraft cabinetry, and a light-filled breakfast area with serene water views. A separate den and playroom can serve as an office or sixth bedroom, offering flexibility for families and visiting guests.

SEE MORE: Boca Raton Waterfront Gem: Spectacular $35 Million Mansion with Iconic Luxury and Endless Views

Lifestyle Amenities Beyond Compare

Upstairs, the waterfront principal suite defines serenity. A private terrace frames sweeping canal vistas while the spa-inspired bath features dual vanities, a soaking tub, and a walk-in rain shower. Throughout the residence, built-in features, custom mirrors, and generous storage speak to the craftsmanship that has become a hallmark of Coral Gables home for sale listings at this level.

Outdoors, an expansive covered entertainment terrace extends the living area toward a sparkling pool. Mature landscaping ensures privacy while framing the 115-foot waterfront and a 61-foot dock with electric boat lift, providing direct access to Biscayne Bay and the Atlantic Ocean. “It is rare to find a home that so seamlessly connects indoor luxury with true ocean access,” Zeder shared with Luxury Houses, noting that Cocoplum’s wide canals make this an exceptional boating property.

SEE MORE: Exquisite $29.5 Million Waterfront Mansion Showcasing Unmatched Luxury in Boca Raton

Prime Location in the Heart of Coral Gables

The home’s location elevates it beyond a simple waterfront retreat. From 231 Costanera Rd, residents can reach the boutiques and restaurants of Coconut Grove in minutes or enjoy the cultural charm of downtown Coral Gables. Top-rated private schools and the University of Miami are nearby, while Miami International Airport lies less than twenty minutes away, offering seamless travel for business or pleasure. Fine dining, luxury shopping at Merrick Park, and quick connections to Key Biscayne and South Beach ensure that this home in Coral Gables for sale provides every convenience of metropolitan Miami while retaining the tranquility of a gated enclave.

Rich Transaction History and Market Insight

This Coral Gables real estate also tells a compelling financial story. According to Miami-Dade County records, the property sold in July 2005 for $4,175,000, after an earlier sale in 1996 for just $450,000. Subsequent listings saw it offered at various price points – from $4.95 million in 2009 to $2.8 million in 2013 – before its latest renovation and current debut at $11,980,000. That trajectory mirrors the dramatic appreciation seen across Coral Gables real estate, where waterfront homes continue to command premium values for their privacy and ocean access.

Local market data underscore this upward momentum. Luxury homes along the Gables’ canals have experienced double-digit growth in the past three years, and properties with docks of this size and depth remain especially scarce. As Jill Eber noted to Luxury Houses Magazine, “The scarcity of true ocean-access properties in Coral Gables makes 231 Costanera Rd an investment as well as a lifestyle statement.”

SEE MORE: 27.5 Million Waterfront Masterpiece Showcasing Modern Luxury in Fort Lauderdale

Experience, Expertise, and Trust

Every detail of this residence reflects the owners’ commitment to quality. Smart-home technology, central air conditioning, and meticulous maintenance add peace of mind, while a quarterly HOA fee of $1,800 supports the exclusive Cocoplum amenities, including a clubhouse, tennis courts, fitness center, and round-the-clock security patrol. These features not only enhance daily living but also strengthen the property’s long-term value.

Luxury Houses contacted Miami-Dade property officials for further comment on the home’s market position, and while specific owner details remain private, public records confirm the extensive improvements and steady appreciation that distinguish this address.

A Home Designed for Tomorrow

Ultimately, 231 Costanera Rd is more than an exquisite Coral Gables home for sale; it is a statement of enduring design and forward-looking investment. Its marriage of Mediterranean architecture with cutting-edge upgrades ensures relevance for decades to come, while its proximity to Miami’s cultural and financial hubs guarantees lasting appeal. Prospective buyers seeking both privacy and prestige will find few opportunities as compelling as this waterfront estate.