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La Gorce Cir Developments Acquires 12 La Gorce Circle, Miami Beach, SF: 5,274, $19.5M

Property Image
SOLD
$19,500,000
Jill Hertzberg
Jill Eber
+ 3

Florida

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Single Family5,274 SF
Sold 10/05/2023
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Property Image
SOLD

La Gorce Cir Developments Acquires 12 La Gorce Circle, Miami Beach, SF: 5,274, $19.5M

12 Lagorce Circle

See Similar Deals
Single Family5,274 SF
Sold 10/05/2023
Jill Hertzberg
Jill Eber
+ 3
Contact now

Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$3,697
Total Square Footage:5,274 SF
Transaction Type:Sale

A single-family property located at 12 La Gorce Circle in Miami Beach has been sold for a price of $19.5 million. The property spans across 0.47 acres and offers a living area of 5,274 square feet. The sale price per square foot was calculated at $3,697. This transaction highlights the strong demand for secure properties in South Florida's luxury market.

Summary of Transaction Details

  • Property Type: Single Family
  • Transaction Amount: $19,500,000
  • Address: 12 La Gorce Circle, Miami Beach
  • Market: Miami Beach
  • Acres: 0.47

The property was purchased by La Gorce Cir Developments, represented by Miguel Yoma, Guillermo Osses, and Francisco Perez. On the selling side, Stephen and Michael Bernstein were the owners of the property. The brokers involved in the deal were Danny Hertzberg, Jill Eber, and Jill Hertzberg from the Jills Zeder Group at Coldwell Banker.

It is noteworthy that the La Gorce Island home, previously owned by Audrey Levinson Bernstein, was listed for $25 million before ultimately being sold for $19.5 million. This transaction further exemplifies the strong demand for secure properties in South Florida's luxury market.

Players

Jill Eber
45 deals$1.1B volume
BROKER

Jill Hertzberg
Coldwell Banker
87 deals$2.3B volume
BROKER

Daniel (Danny) Hertzberg
Coldwell Banker
63 deals$1.6B volume
BROKER


5 deals$108.1M volume
BUYER

2 deals$33.1M volume
BUYER

2 deals$33.1M volume
BUYER

2 deals$33.1M volume
BUYER

2 deals$33.1M volume
BUYER

Details

SOLD
IMAGE: Jill Hertzberg, Danny Hertzberg & Jill Eber DATE: 10/05/2023 ADDRESS: 12 La Gorce Circle MARKET: Miami Beach ASSET TYPE: Single Family ~ ACRES: 0.47 BUYER: La Gorce Cir Developments - Miguel Yoma, Guillermo Osses & Francisco Perez SELLER: Stephen & Michael Bernstein BROKERS: Danny Hertzberg (@DannyHertzberg), Jill Eber (@JillEber) & Jill Hertzberg (@JillHertzberg) - Jills Zeder Group (@JillsZederBeach) - Coldwell Banker (@ColdwellBanker) SALE PRICE: $19,500,000 SF: 5,274 ~ PPSF: $3,697 NOTE: Miami Beach hotelier family members sold their late mother's La Gorce Island home for $19.5 million to spec home developers. The property, previously owned by Audrey Levinson Bernstein, was listed for $25 million before being sold, reflecting the strong demand for secure properties in South Florida's luxury market.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,039,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38