Andre Hakkak and his wife Marissa Shipman sell Gables Estates Mansion for $27.5 million

The Gables Estates in Coral Gables remains a favorite spot for luxury properties as another big sale was completed this week. White Oak Global Advisors CEO Andre Hakkak and theBalm Cosmetics founder Marissa Shipman (wife of Andre Hakkak) let go of their opulent home for a sweet $27.5 million off-market deal. Reported BizJournals.

The couple bought the splendid two-storied house at 8950 Arvida Drive in 2020 for $13.6 million, and they were happy to make good profits within four years of acquiring the property. The splendid house has a total area of 12,300 sq ft and has six bedrooms, nine full bathrooms, two half-bathrooms, and a six-car garage.

Built in 2016, the residence is located on nearly 2-acre land and it has a swimming pool for the residents and the best of the South Florida lifestyle providing enough space and privacy for its residents.

This new high-ticket sale proves that high-end properties in Coral Gables are still very much in demand. The interest rates, inflation, and the rising cost of home insurance have gone up but the demand for luxury homes has not been affected.

Gables Estates has been one of the most benefited communities because of this trend as it is a highly secured and gated community that houses most of its estates along the waterfront.

Several other interesting transactions have also occurred in the neighborhood in the last few months.

This past month, Geert-Jan Bakker, who is the heir to a Dutch magnet manufacturing firm, bought a mansion on the waterside for $23. 5 million. Also, Paul Kaplan, the U. S. CEO of a Swedish property management firm, managed to buy a six-bedroom house for $14. 8 million.

These multimillion-dollar transactions attest to the unrelenting appeal of Coral Gables to well-heeled homebuyers seeking grand, luxurious homes and a South Florida lifestyle.