Asking $170 Million, a Miami Seaside Compound Aims to Turn into Florida’s Priciest-Ever House

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A waterfront compound in Miami Beach is coming on the marketplace for $170 million. If it sells for that volume, the residence will be the most expensive at any time sold in the condition of Florida.

The house is positioned on La Gorce Island, a guard-gated local community related by bridge to Miami Seaside. Set on almost 3 acres, the gated estate contains 4 parcels and has roughly 600 toes of h2o frontage on Biscayne Bay, in accordance to listing brokers Jill Eber and Jill Hertzberg of Coldwell Banker Realty. There are homes on 3 of the four parcels, every single with its very own dock. The fourth parcel has a private park with a marble gazebo, gardens and banyan, oak and palm trees. 

The properties ended up bought in the 1980s by the late M. Lee Pearce, a health practitioner, entrepreneur and philanthropist who died in 2017. Dr. Pearce constructed and owned hospitals and professional medical amenities, as properly as financial institutions, according to Chuck Douglas, president of the Dr. M. Lee Pearce Foundation and the trustee of the entity that owns the assets. 

In all, Dr. Pearce put in around $3.1 million for the 4 contiguous attributes. He procured the initial one particular for $550,000 in 1983, documents exhibit. He lived there for many years, in a two-bed room house with a separate guesthouse. He turned a absolutely free-standing garage on the house into a 5,000-bottle wine storage spot, Mr. Douglas reported.In 1986, Dr. Pearce ordered a few additional plenty. He tore down an present home on a single great deal to create the non-public park, but he stored two five-bedroom households on the other parcels. He employed one dwelling for entertaining and personnel, and set up a theater with crimson-velvet chairs and an oversize display screen. All over 2010, he renovated the other current property and lived there for several a long time. Mr. Douglas stated Dr. Pearce converted the garage on that residence into an place of work and conference center. 

“No expense was spared in the transforming of that piece of residence,” Mr. Douglas claimed. 

Mr. Douglas claimed the proceeds of the sale will inevitably go to Dr. Pearce’s foundation, which supports medical study and classical tunes. 

Ms. Hertzberg reported the price of the estate is justified simply because of its size, which is massive for Miami Seaside, and for the reason that it could be utilized as a personal compound or most likely subdivided. The roughly 600 toes of water frontage and docks can accommodate a substantial vessel, Ms. Eber extra.

La Gorce Island is sought following because of its spot, privateness and manicured grounds, Ms. Eber explained. The island has all over 60 households, roughly 28 of which are waterfront houses, mentioned Ms. Hertzberg. 

Household selling prices in the Miami area, considerably like the relaxation of the place, are soaring. For the duration of the very first quarter of 2022, the median gross sales cost for a solitary-family home in Miami Beach rose virtually 19% calendar year-above-yr, according to serious-estate appraisal agency Miller Samuel.

Generate to E.B. Solomont at [email protected]

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