This time, the Abel Tesfaye is not making headlines due to his record-breaking tour. It will be due to his record-breaking contract. As several trade publications have reported, the singer is said to be under contract to purchase one of South Florida’s most spectacular waterfront estates for $54.9 million (€47.1 million). It’s believed that the transaction may be moving toward closing, although it has not yet appeared in public records.
A Legendary “V-Lot” With a Story
This is no ordinary waterfront home. 41 Arvida Parkway in the exclusive, gated Gables Estates community is a V-shaped peninsula lot with water on three sides. The property boasts around 574 feet (175 m) of bay frontage, ensuring privacy and an unobstructed view of the Miami skyline.
Waterfront lots in Gables Estates sold for as little as $17,000 (€14,500) and for as much as $65,000 (€55,300) in the 1950s and 1960s. Nowadays, they go for tens of millions because that land is scarce. Plus, Miami has become one of the wealth centers now. Now almost so rare that if they ever come to market, it is after trading privately beforehand, i.e. before launch.
A Mansion With a Storied Past
The property’s history is as remarkable as its design. In 2019, a Chicago investor named Steven Lempera bought the mansion at a sale organised by Concierge Auctions for roughly $27.8 million (€23.8 million), though the records claim the true price tag was about $25.5 million (€21.8 million) after auction fees. This marked a huge decrease from its earlier listed price of almost $68 million (€58.1 million).
Since that time, the property has been put on the market a number of times with asking prices ranging from $49 million (€41.9 million) to $57 million (€48.7 million) before being purchased by The Weeknd in 2025. Experts say estates comparable to this one are worth more for their rarity, privacy, and access to deep water than for the conventional price per square foot.
Architectural Masterpiece for Waterfront Living
This house was designed by architect Ramon Pacheco. It was finished in the early 2010s, with significant construction updates in 2019. The mansion measures 19,000 square feet (1,765 m²) on a 1.24-acre lot. It also features a seamless indoor-outdoor design. There are eight bedrooms and eleven bathrooms. There are also large terraces and manicured gardens, together with a 62-foot infinity pool, lined with hand tiles that reflect the tones and blues of Biscayne Bay.
Inside, the design is equally impressive. In the middle of the area is the double-height cylindrical staircase. Moreover, the floor-to-ceiling french doors help to create the illusion of chaos between inside and outside. The main bedroom includes a private terrace, spa-like bath and large dressing room. Some other highlights included in it are a gym, media room, wet bar, wine cellar, and climate-controlled garage for multiple vehicles.
The most remarkable aspect of the home is its 140-foot private dock capable of hosting a 200-foot superyacht that exceeds what Miami’s grandest properties offer. For a world artist constantly hopping between continents, such shipping access converts the impending property from a home to a strategic lifestyle base.
From Auction Bargain to Celebrity Trophy
The mansion which started as an auction bargain has now become a trophy of a celebrity in Miami real estate. Once thought of as a secondary market to LA and New York, South Florida has become a magnet for global wealth mainly from celebrities, tech industry revolutionaries, and ultra-high-net-worth investors thanks to its tax benefits and waterfront lifestyle.
Luxury brokers say deep-water peninsula properties with large frontages and yacht capacity are now “generational assets” which are irreplaceable today. If the transaction Solidifies, Lempera’s 2019 buy could more than double in value in only six years.
A New Chapter in The Weeknd’s Real Estate Story
This latest deal in The Weeknd’s expanding real estate portfolio comes hot on the heels of a $70 million (€59.8 million) mansion in Bel Air. In April 2023 Tesfaye told Interview Magazine he is not yet “settled in home.”
“No house has truly been a home to me. For the majority of my career, I’ve been out on the road … the price I’ve had to pay is I don’t get too attached to where I live.”
— The Weeknd, Interview Magazine, April 2023
That’s the mindset which goes a long way to explaining why this Florida estate could be a substantial turning point. By getting this property, Tesfaye is not just upgrading to a new home. He is creating an impressive base that gives him privacy and easy access to the Caribbean and Mediterranean right from his backyard.
Essential Insights
If the deal goes as it is supposed to, the sale will likely become one of the top five residential sales in the history of Coral Gables. The deal confirms that ultra-rare peninsula properties continue to see rising values.
A neighborhood home to billionaires, CEOs, and international celebrities, The Weeknd’s presence will only solidify the association of Miami with luxury and affluence. This luxury real estate market happens to be one of the most preferred worldwide.
