arts
Concrete mogul sells waterfront home in Miami’s Bay Point for record price to West Coast buyer
By Katherine Kallergis at The Real Deal
· July 15, 2026
· 1 min read
Adonel Concrete’s chairman and CEO Luis Garcia sold his waterfront home in Miami ’s Bay Point neighborhood for $27.3 million, a deal that’s reflective of the massive transformation the luxury home market has gone through over the past decade-plus. Garcia listed the home at 790 Lake Road for $10 milli
Key takeaway Garcia listed the home at 790 Lake Road for $10 million in 2016, but he also had an offer if a buyer wanted a new house: pay $15 million for it.
Why this matters in The Miami
The record-breaking sale of Luis Garcia's waterfront home in Bay Point to a West Coast buyer is a testament to Miami's growing allure as a luxury destination. This deal is particularly notable given the neighborhood's unique character, nestled between the bustling areas of Miami Beach and the Design District. The significant price jump, from Garcia's initial purchase price of $2 million in 2012 to the final sale of $27.3 million, reflects the city's evolving landscape and increasing appeal to high-end buyers. As Miami continues to attract investors and residents from across the country, sales like this one will be closely watched by local real estate observers, who will be looking to see if this trend persists in other neighborhoods, such as Little Havana and Wynwood, and how it will impact the broader Miami-Dade County market.
About this story
Original reporting by The Real Deal . The Miami surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
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Category: arts ·
Published: July 15, 2026 ·
Source: The Real Deal ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? Adonel Concrete’s chairman and CEO Luis Garcia sold his waterfront home in Miami’s Bay Point neighborhood for $27.3 million, a deal that’s reflective of the massive transformation the luxury home market has gone through over the past decade-plus. Garcia listed the home at 790 Lake Road for $10 milli
When was this published? This article was first published on July 15, 2026 by The Real Deal and curated for The Miami readers.
Who reported this story? This story was reported by Katherine Kallergis at The Real Deal. To learn more about how The Miami selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more arts coverage from The Miami, or browse our daily briefing and topic hubs .
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