La Gorce estate in Miami Beach trades for $20M

Rendering of 14 La Gorce Circle in Miami Beach
Rendering of 14 La Gorce Circle in Miami Beach

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.

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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.