Notable Miami Developer, Armando Codina, Lists $45M Coral Gables Estate to Lease Sky Residence in his Own Ultra-Luxury Lease Building
Notable Miami Developer, Armando Codina, Lists $45M Coral Gables Estate to Lease Sky Residence in his Own Ultra-Luxury Lease Building
Notable Miami Developer, Armando Codina, Lists $45M Coral Gables Estate to Lease Sky Residence in his Own Ultra-Luxury Lease Building
Notable Miami Developer, Armando Codina, Lists $45M Coral Gables Estate to Lease Sky Residence in his Own Ultra-Luxury Lease Building
Codina will be joined by Richard Fain, Former Chairman of the Board of Royal Caribbean Group, Along With Other South Florida Elites Choosing Leasing vs. Owning.
Armando Codina, national business mogul, real estate magnate, civic leader, founder and Executive Chairman of Codina Partners has listed his Coral Gables estate for $45 million with Scott Shuffield of Berkshire Hathaway HomeServices EWM Realty. His new home? The top floor at Regency Parc, a first-of-its kind ultra-luxury residential tower being developed by Codina Partners in downtown Coral Gables.
Codina’s move underscores a broader national shift: leasing among the ultra-wealthy in the U.S. has more than tripled over the past five years, with 13,600+ millionaire renters in 2025. Increasingly, this echelon of society is choosing privacy, service, and flexibility over the burdens of homeownership, such as skyrocketing insurance premiums, HOA disputes and constant maintenance.
“Regency Parc was designed to redefine leasing for the ultra-luxury resident, especially with flexible long-term leasing options on larger units,” said Codina. “After decades of maintaining an estate—one that I designed and built in 1997 to be my long-time family residence—my wife and I wanted the freedom to maintain our quality of life with all the privacy, our living spaces all on one floor, and five-star services we currently enjoy without compromising our current living spaces. This move gives us all the benefits of the single-family and urban lifestyles without the headaches of ownership. It captures the essence of what modern ultra-luxury truly is and takes it a step further. Better still, I can walk to our corporate office four blocks north on Salzedo Street, all the best restaurants of Coral Gables, and am just minutes from Miami International Airport, Downtown, Miami Beach and more. All of these are the reasons we’ve chosen to make it our home.”
Currently in pre-leasing, Regency Parc will feature just 126 expansive Sky Residences, ranging from 1,768 to 12,000 square feet. The twelve different floor plans will each boast anywhere from two to four bedrooms, embodying the DNA of a single-family home.
The top five floors of Regency Parc, known as “The Cloud,” consists of two, full-floor Skyhomes. These two rare and prestigious residences have been leased long-term by Codina, who will be taking the very top floor, and Richard Fain, former Chairman of Royal Caribbean Group, who will take the floor below. Each residence is over 12,000 and 10,000 total square feet, respectively.
The Cloud also consists of half-floor units ranging from 3,528 to 6,005 total square feet that offer majestic views of the Coral Gables and Miami skylines. Prominent attorney, Rudy Aragon, has also committed to a residence long-term in The Cloud of Regency Parc. Long-time New Yorkers are also counted among the residents who will be moving to Regency Parc.
Tailored for residents seeking privacy, sophistication, wellness, and service, Regency Parc offers a curated suite of exclusive amenities, including:
- On-demand lifestyle services, including a custom mobile app that provides residents with seamless access to amenities, concierge requests, building communications, and more.
- White-glove concierge services rivaling those of five-star hotels—including black car transportation, dining reservations, in-unit housekeeping, wellness appointments, and curated catering options from approved vendors.
- An expansive resort-style deck with a pool, private cabanas, BBQ areas, and lush landscaping.
- A rooftop Wellness Pavilion, featuring a high-performance fitness center, recovery spa with the latest bio-hacking technologies, and an open-air yoga yard with panoramic views of Coral Gables and Downtown Miami.
- A private Social Pavilion designed for entertaining, offering three combinable event spaces and a rooftop gathering area with skyline vistas.
- A state-of-the-art security system powered by artificial intelligence for ease of access and enhanced safety, as well as peace of mind.
- Additional unique offerings include a 15-seat private screening room, a Telehealth Room for virtual medical visits, dedicated pet facilities, wine storage, and more.
- The property is not located in a flood zone, nor an evacuation zone.
Codina views Regency Parc as much more than a residence, but rather a lifestyle strategy. “We are simplifying our life and estate.” said Codina. “Selling our estate and moving to Regency Parc is also a financially sensible move at this stage in our life.”
Located on Casuarina Concourse in Gables Estates, the home offers prime water access to the Ocean and can accommodate a vessel up to 90 feet in length.
Additional features include:
- 6 Bedrooms
- 7 Full Bathrooms
- 1 Half Bathroom
- 13,392 SF Living Area
- 21,259 Total Building Area
- Main Living Area Is 16’ Above Sea Level
- 2 Family Rooms
- 3 Courtyards
- Chef’s Kitchen featuring Viking Gas Range and Four Ovens (two electric and two gas), as well as a Double Viking Refrigerator.
- Formal Dining Room with Butler’s Pantry
- Prime positioning at the bulge of the canal offering ease of access.
- Rare, recessed dock that offers greater protection.
- Dockside Storage Room
- 125kw Whole House Generator
“The demand for homes of this caliber that feature such exquisite attention to detail is quite high given limited supply,” said listing agent, Scott Shuffield. “The residence’s unique, wide view of the waterway, recessed dock and prime positioning at the bend affords the ultimate protection and access for large vessels—an attribute few homes in the area possess—and its impressive provenance makes it a true trophy property.”
This is not the first Codina Estate on Casuarina Concourse. Another home was also built and owned by Codina on the same street. The property at that address recently sold for $45.25 Million to the former wife of Billionaire hedge-fund manager, Kenneth Griffin.
“We are seeing that leasing is increasing in popularity among the ultra-wealthy—and the growing interest in Regency Parc is evidence of that,” said Ron Shuffield, President and CEO of Berkshire Hathaway HomeServices EWM Realty, a HomeServices of America Affiliate. “In addition to its unique architecture, high level of detail, and prime spatial planning, the Codina Estate has a unique pedigree in the South Florida real estate landscape, and just as with the Arsht Estate, we are proud to be bringing it to market.”
About Codina Partners
Codina Partners is a distinguished real estate development, management and investment firm that combines transparency and authenticity to provide hospitable, polished service to every client, partner and stakeholder it serves. Led by an experienced, visionary leadership team, Codina Partners has distinguished itself from other developers and managers by recognizing overlooked opportunities, leaving every community better than they found it, delivering above and beyond service, and producing high-quality work resulting in successful outcomes. Codina Partners’ development and management portfolio includes notable mixed-use projects such as Downtown Doral, 2020 Salzedo, Regency Parc, an ultra-luxury residential rental tower currently under construction in Coral Gables, and Westland Plaza—the visionary lifestyle center that will adjoin Westland Mall in Hialeah. To learn about Codina Partner’s integrated services, visit www.codina.com or call 305-529-1300.
