A significant portion of Miami Beach’s La Gorce Island has found a deep-pocketed buyer.
Three waterfront parcels on the posh Biscayne Bay enclave have sold to consumer goods multimillionaire Anand Khubani to the tune of $100 million, the Real Deal first reported.
The three-property assemblage — 18, 22 and 24 La Gorce Circle — are directly adjacent to one another and initially hit the market two years ago with a $170 million price tag.
It went into contract early this April.
An aerial image of 18, 22 and 24 La Gorce Circle, according to a previous listing image. The Jills Zeder Group/1 Oak Studios
24 La Gorce Circle. The Jills Zeder Group/1 Oak Studios
The 18 La Gorce Circle address has a two-bedroom home, a dock and a guest house, while 22 La Gorce Circle has a five-bedroom home and a dock. No. 24 is currently a park.
Although the listing has now sold at quite the discount, the sale still marks Miami-Dade County’s most expensive closed residential deal since 2022, when Citadel CEO and founder Ken Griffin spent a record $106.9 million on a 4-acre estate in Coconut Grove.
A portion of the extensive landscaping at 24 La Gorce Circle. The Jills Zeder Group/1 Oak Studios
A fountain at 18 La Gorce Circle. The Jills Zeder Group/1 Oak Studios
Inside 18 La Gorce Circle. The Jills Zeder Group/1 Oak Studios
A home theater at 22 La Gorce Circle. The Jills Zeder Group/1 Oak Studios
Anand Khubani, the parcels’ buyer. Anand Khubani/Linkedin
The seller, the trust of the late, controversial activist investor and physician Dr. M. Lee Pearce, was represented by Danny and Jill Hertzberg and Jill Eber of The Jills Zeder Group at Coldwell Banker.
Pearce, who passed away at home on La Gorce Island in 2017, spent over $3.1 million in the 1980s to put together the multi-parcel property, which boasts close to 3 acres and nearly 600 feet of water frontage, according to the Real Deal.
Brett Harris of Douglas Elliman, and brothers Zach and Cody Vichinsky of Bespoke, represented Khubani, who founded the Jersey-based firm Ideavillage Products, which “creates and partners with high-potential brands,” according to its website, adding, “We disrupt categories.”
Brands within Ideavillage’s portfolio include compression product store Copper Fit and Microtouch.
The sale has been anticipated for some time, although multiple previous reports have confused Anand for his brother, Ajit “AJ” Khubani, an infomercial king famous for “As Seen on TV” ads.