5600 Oakwood Ln

Listing details

Address

5600 Oakwood Ln

Price

$6,000,000

Status

Active for sale

Bedrooms

4

Bathrooms

3.5

Living area

5,005 sq ft

Year built

1979

Days on market

10

Listing description

Set on a 31,272 SF (0.72-acre) corner lot in the exclusive, gated Banyan Drive neighborhood of Coral Gables, within the Snapper Creek Oaks subdivision and near prestigious Ponce-Davis. An intimate enclave of approximately 50 properties, Banyan Drive is experiencing a significant wave of luxury redevelopment, with 7 newly constructed estates since 2019 and at least 7 additional homes under development. This oversized corner lot, measuring approximately 224' x 141', offers the opportunity to build a custom luxury estate. Conceptual plans by Castillo Architecture & Planning envision a spectacular two-story residence with approximately 11,322 SF A/C and 13,268 SF total area, featuring 6 bedrooms plus staff quarters, home office, gym, home theater, game room, expansive entertaining areas, resort-style pool, and 3-car garage. The existing residence is livable and offers potential rental income while planning future development. Ideally located near South Miami, Coconut Grove, and Pinecrest. Renderings and plans are conceptual only and have not been submitted to or approved by the City of Coral Gables or Miami-Dade County. Buyer must independently verify zoning, development, permitting and approval requirements, as well as the status and transferability of existing permits.

How this listing compares

Listed at $1,199 per square foot. In Coral Gables, the median closed price was $519 per square foot and the median time on market was 71 days.

Listing history

• 10 days on market.