Rob Arnott pays $32M for La Gorce mansion in Miami Beach

Financial whiz pays $2,900 a foot for waterfront spec home

TRD MIAMI /
Jun.June 04, 2018 03:15 PM

34 La Gorce Circle and Rob Arnott

UPDATED, 9:18 a.m., June 5: Investment guru and Research Affiliates founder Rob Arnott just closed on a waterfront spec mansion in Miami Beach in what looks to be the most expensive purchase in Miami Beach since at least 2015.

Property records show that Arnott, recently dubbed a “modern-day Socrates” by Barron’s, paid $32 million, or just over $2,900 a foot, for a seven-bedroom, 11,000-square-foot home at 34 La Gorce Circle. There hasn’t been a deal in that price range on the beach since Ken Griffin purchased two penthouses in Faena House for $60 million, an analysis of city records by The Real Deal shows.

Coldwell Banker’s The Jills, led by Jill Hertzberg and Jill Eber, were the listing agents. They declined to comment.

Developer Thomas Danluck put the La Gorce property on the market in January for $38 million, or about $3,450 per square foot.

The Arnotts are listed as the owners on a May 24 agreement with the La Gorce Island Association. Arnott’s firm, California-based Resarch Associates, has $201 billion in assets under management, according to the company’s website. It is a subadviser to Pimco, which has $1.77 trillion in assets under management.

The estate includes a motor court, meditation garden, staff quarters, home theater, cabana and pool. It was designed by Kobi Karp and Artefacto. The 23,000-square-foot property features about 140 feet of water frontage. Records show 34 La Gorce Circle Partners, a company controlled by Danluck, paid $14 million for the lot in 2014.

Sources said the deal closed last week for about $32 million, but it is unclear if that price includes furnishings. The property was under contract as of mid-April, according to Redfin. It’s no longer listed on the MLS.

Correction: An earlier version of this story incorrectly identified the sale as a record in Miami-Dade County since 2015. It is a record in Miami Beach. 


Related Articles

arrow_forward_ios
Prive at Island Estates and BH3’s Charlie Phelan, Greg Freedman and Daniel Lebensohn and Gary Cohen

Privé at Island Estates developer sues Suffolk Construction over defects

Privé at Island Estates developer sues Suffolk Construction over defects
Pierre Brondeau and Palazzo Del Sol

Pesticide exec pays $14M for Palazzo Del Sol condo

Pesticide exec pays $14M for Palazzo Del Sol condo
Howard Lorber and 1525 North View Drive

Howard Lorber buys waterfront Sunset Islands home for $12M

Howard Lorber buys waterfront Sunset Islands home for $12M
2201 Sunset Drive and David Grutman (Credit: Douglas Elliman)

Hospitality mogul David Grutman lists Sunset Islands home

Hospitality mogul David Grutman lists Sunset Islands home
Jim Cohen, Fontainebleau Development’s president of Residential, and Jeffrey Soffer, with SeaGlass Jupiter

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos
2138 Bay Avenue, Miami Beach (Credit: Google Maps)

Toronto financier pays $14M for Sunset Islands home

Toronto financier pays $14M for Sunset Islands home
Map of priciest condo sales and Palazzo Del Sol (Credit: Google Maps and Douglas Elliman)

$12M Fisher Island closing tops weekly condo sales in Miami-Dade

$12M Fisher Island closing tops weekly condo sales in Miami-Dade
Fisher Island (Credit: Fisher Island)

Nation’s richest ZIP code received a $2M PPP loan. Residents voted to reject it

Nation’s richest ZIP code received a $2M PPP loan. Residents voted to reject it
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...