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Miami Beach Waterfront Compound On La Gorce Island Under Contract For $132M

Property Image
SOLD
$132,000,000
Daniel (Danny) Hertzberg
Jill Hertzberg
Jill Eber

Florida

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Single Family
Sold 04/03/2024
the dealplayerscompscontact
Property Image
SOLD

Miami Beach Waterfront Compound On La Gorce Island Under Contract For $132M

18 Lagorce Circle

See Similar Deals
Single Family
Sold 04/03/2024
Daniel (Danny) Hertzberg
Jill Hertzberg
Jill Eber
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Single Family
Transaction Type:Sale

A Miami Beach waterfront compound located on La Gorce Island, comprising four parcels with its own docks, is now under contract with two separate buyers. The property, spanning nearly 3 acres, was initially listed for $170 million but is now under contract at a price of $132,000,000. The deal surpasses the previous record of $107 million and was listed by Coldwell Banker Realty agents.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $132,000,000
  • Address: 18 Lagorce Circle
  • Market: Miami Beach
  • Asset Type: Single Family
  • ACRES: 3

The brokers representing the property in this record-breaking transaction are Daniel Hertzberg, Jill Eber, and Jill Hertzberg from Coldwell Banker.

Players

Jill Eber
Coldwell Banker
Jill Eber
45 deals$1.1B volume
BROKER
Jill Hertzberg
Coldwell Banker
Jill Hertzberg
90 deals$2.4B volume
BROKER
Daniel (Danny) Hertzberg
Coldwell Banker
Daniel Hertzberg
66 deals$1.6B volume
BROKER

Details

SOLD
IMAGE: CONTRACT IMAGE: Jill Eber, Daniel Hertzberg & Jill Hertzberg DATE: 04/03/2024 ADDRESS: 18 Lagorce Circle MARKET: Miami Beach ASSET TYPE: Single Family ~ ACRES: 3 BROKERS: Daniel Hertzberg (@DannyHertzberg), Jill Eber (@JillEber) & Jill Hertzberg (@JillHertzberg) - Coldwell Banker (@CBRealtyForida) PRICE: $132,000,000 NOTE: A Miami Beach waterfront compound, initially listed for $170 million, is now under contract with two separate buyers, exceeding the previous record of $107 million. Located on La Gorce Island, the nearly 3-acre property comprises four parcels with its own docks, and was listed by Coldwell Banker Realty agents.

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

$7,039,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$468,968.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$625,747.34
Annual Debt Service$7,508,968.12