Real Estate Blog

Cher’s first Miami property, 64 La Gorce Circle, is located in one of Miami Beach’s most exclusive guarded island communities. Built in 1953, this completely renovated home offers 11,000sf-plus of living space with 158ft. of water frontage. Just reduced to $10.2M, currently this property offers the best value on La Gorce Island among the six waterfront homes listed for sale.

…It’s been on and off…with celebrities like Janet Jackson and Julio Iglesias each taking a turn as tenants, but was most recently listed for $11.5 million in July…listing broker Nelson Gonzalez of Esslinger-Wooten-Maxwell told The Real Deal today. Gonzalez said he believes the latest price cut puts the estate at well below market value, pointing to a recent, $8.2 million listing on La Gorce Island for a roughly 5,000-square-foot home with fewer feet of waterfrontage.

“The market has been absolutely on fire in Miami Beach recently,” Gonzalez said. “There are a lot of transactions, but at lower prices. People just don’t want to miss the boat at the bottom so they’re sort of getting off the fence.”

-The Real Deal 3/2/11

64 La Gorce Circle:

Lot Size: 29,507SF
On the H2o: 158?
Living Area: 11,460SF
6 Bed / 7 Bath / 1 Half Bath
Cabana with Exercise Room
60ft Heated Pool
Built in 1953