Yesterday a gorgeous Miami Beach home located at 88 La Gorce Circle on prestigious La Gorce Island, sold and closed for a whopping $16 million, $3.5 million less than the listed price. The property was on the market for sale since January of 2008, when the newly built mansion was originally listed for a cool $25 million.
The property boasts 260 linear feet of water frontage, on a 48,024 square feet lot, with a state of the art mansion, measuring 17,183 square feet. The 10 bedrooms home, built just 2 years ago, is replete with an elevated guest house, an over sized rooftop terrace, a staff house and a 5-car garage.
This magnificent estate is one of only a very few Miami luxury homes to sell for more than $1000 per square foot of living area. To many people that may seem quite remarkable, but not so, if you consider that condos in Miami Beach buildings such as the Apogee and the Setai, have fetched more than $2000 per square foot.
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