La Gorce estate in Miami Beach trades for $20M

LLC paid $7M for the 20,300-square-foot site in May 2013

May.May 05, 2015 12:45 PM

A newly built Miami Beach estate at 14 La Gorce Circle sold for $19.7 million, according to a deed recorded Monday in Miami-Dade County records.

An LLC tied to a Monaco address sold the 10,000-square-foot mansion to Luis Enrique Alvarez Ortega.

The eight-bedroom, nine-and-a-half-bathroom home features 100 feet of bay frontage. It was built in 2014 by Bart Reines Construction with Brett Palos Investments and Argent Design, according to the listing.

Simon Groom signed the deed transfer on behalf of the seller, 14 La Gorce LLC. The company paid $7 million for the 20,300-square-foot site in May 2013, according to property records. A 7,629-square-foot home, built in 1937, still existed at the time of the previous sale.

Directly west, M. Lee Pearce, a doctor, lawyer and activist investor, owns the nearly 3-acre at 18 La Gorce Circle. La Gorce Island is also home to rapper Lil Wayne, who listed his 15,000-square-foot mansion at 94 La Gorce Circle for $18 million in April.

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