Properties
Four-Property Compound on Miami’s La Gorce Island Sells for Record-Breaking $122M
by ELLIMAN INSIDER TEAM
October 2024
By Grace Cassidy
Situated on La Gorce Island, a private residential island within Miami Beach, a four-property compound has just sold for a total of $122 million. This marks the highest residential sale in Miami-Dade County in two years, right behind the $106.9 million sale of Adrienne Arsht’s four-acre estate to hedge fund billionaire Ken Griffin, in 2022.
Represented by Douglas Elliman agent Brett Harris (alongside Zach and Cody Vichinsky from Bespoke Real Estate), Anand Khubani, the founder and CEO of consumer brands company Ideavillage, purchased three of the properties—18, 22, and 24 La Gorce Circle—for $100 million. The fourth parcel, at the 16 address, sold to an undisclosed buyer for $22 million. The compound spans nearly three acres with more than 600 feet of direct water frontage on Biscayne Bay.
“With both southeast and southwest exposure, no other lot in Miami offers the kind of sunrise-to-sunset views in addition to such unparalleled privacy and exclusivity,” Harris said.
18, 22, 24 La Gorce Circle
18, 22, 24 La Gorce Circle
Included in the purchase is a two-bedroom, two-and-a-half-bathroom home plus a guest house at the 18 address; a larger two-story, five-bedroom retreat at 22 La Gorce Circle, complete with seven full bathrooms and five half-bathrooms; and a park located at 24. The separated parcel at 16 features a five-bedroom home. Each property showcases its own private waterfront and dock.
The La Gorce Island compound previously was home to physician Dr. M. Lee Pearce, who passed away there in 2017. Pearce spent over $3 million to assemble the multi-parcel retreat back in the ’80s. The seller is Pearce’s trust.
According to The Real Deal, Khubani sold a vacant oceanfront property in Palm Beach off-market for $85 million earlier this year. The businessman plans to redevelop his new properties and design a home for his family.
The La Gorce Island compound is situated just over four miles from downtown Miami Beach and 10 miles from downtown Miami.
Brett Harris
Sales Associate
SL3192059
305.677.5000
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