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18 Lagorce Circle

Anand Khubani Of Ideavillage Purchases La Gorce Island Properties For $100 Million
SOLDSingle Family

Anand Khubani Of Ideavillage Purchases La Gorce Island Properties For $100 Million

18 Lagorce Circle, 22 Lagorce Circle & 24 Lagorce Circle

$100,000,000

Building Size

Asset Type

Single Family

Closing

Sep 23, 2024

AI

The transaction involves an assemblage of properties located at 18, 22, and 24 La Gorce Circle, situated in the Miami Beach market. The total sale price for this single-family asset reached $100 million, marking a significant transaction in the area.

Summary of transaction details:

The properties were sold by the trust of the late Dr. M. Lee Pearce. Anand Khubani, founder and CEO of Ideavillage, has acquired these prominent Miami Beach properties, which constitute the most expensive residential sale in Miami-Dade County for the year.

Players

Brett Harris

Douglas Elliman

Broker

$590M

vol

16 deals

Broker

Miami Beach Single Family Market Snapshot

Boundary boundary · Single Family · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.16%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93