A multifamily investor bought the last piece of the late Dr. M. Lee Pearce’s La Gorce Island assemblage for $22.1 million, two months after Ideavillage founder Anand Khubani dropped $100 million on the bulk of the properties.
Records show 16 La Gorce LLC, a Florida entity managed by Thomas Neary, Peter Neary and Claudia Perez Neary, bought the waterfront house at 16 La Gorce Circle in Miami Beach from Pearce’s estate. The Nearys financed the purchase with a $15.4 million loan from Royal Bank of Canada, according to property records.
Danny Hertzberg, Jill Hertzberg and Jill Eber of the Jills Zeder Group at Coldwell Banker had the listing. Evan Weiss of 305 Degrees Realty represented the buyer.
Thomas Neary heads the Miami-based multifamily investment firm Bowery Properties, which bought a Little Haiti portfolio for $11.6 million in 2021.
The half-acre La Gorce Island parcel is one of four properties Pearce assembled in the 1980s. Pearce, a medical doctor and activist investor known for his successful Southeast Bank proxy battle, spent $3.1 million on the homes. They spanned a combined 3 acres and 600 feet of waterfront. Pearce died in 2017.
Khubani bought the houses at 18, 22 and 24 La Gorce Circle for $100 million in September, making it one of Miami-Dade County’s most expensive sales ever. He is currently designing a new home for the site.
The Nearys bought the property at 16 La Gorce Circle separately from the rest of the assemblage. The house was built in 1936 and spans 7,500 square feet, with seven bedrooms, six bathrooms, a dock and a pool, records show.
Gated La Gorce Island has been a magnet for luxury buyers in recent years. In June, spec developer Philippe Harari’s AquaBlue Group sold a waterfront mansion for $62.5 million. Last November, Bausch + Lomb CEO Brent Saunders and his wife, model Daniela Botero Correa, bought a waterfront mansion for $35.4 million.