South Florida continues to see a strong luxury market and demand for homes priced $1 million or more. Just last week, another high-end property was sold for $16 million along the waterfront of Coral Gables. The home was that of Jose E. Souto, the inheritor of a notable Cuban coffee empire, which he sold to J.M. Smucker for $360 million in 2011.

Spanning nearly 15,000 square feet with 145 feet of water frontage, the estate has seven bedrooms and nine total bathrooms. Souto purchased the 45,000-square-foot lot in 2011 for $5.15 million and had the estate constructed thereafter. Agents Isabel Castro and Maria Bradley with Berkshire Hathaway HomeServices EWM Realty represented both the buyer and the seller in last week's $16 million transaction.

Features within the home include six-car garages, artistic fountains, striking marble flooring and soaring ceilings. A library and 2,500-bottle wine room are adjacent to the great room. The elegant chef's kitchen overlooks a lush courtyard. Extravagant finishes and eye-catching chandeliers complete the spacious design.

Main Image via Castro and Maria C. Bradley, PA of EWM Realty International
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