By Brian Bandell – Senior Reporter, South Florida Business Journal
Jan 27, 2021, 7:22am EST
Trusts controlled by veteran TV producer Douglas S. Cramer and artist Hubert S. Bush III sold a waterfront mansion on La Gorce Island in Miami Beach for $23.03 million.
The 8,565-square-foot home at 40 La Gorce Circle was purchased by Byron Roth, the chairman and CEO of Newport Beach, California-based investment banking firm Roth Capital Partners, which also has an office in Miami Beach. Wells Fargo Bank provided a $12 million mortgage to the buyer.
The price equated to $2,689 per square foot. It was an off-market deal. Eloy Carmenate and Mick Duchon of Douglas Elliman represented the sellers in the deal while the buyer worked with Brett Harris, also of Douglas Elliman.
The home last traded for $7.4 million in 2010. It was originally built on the 23,145-square-foot lot in 1937, but was expanded in 2012 and decorated with Bush and Cramer’s vast art collection.
Cramer was executive VP at 20th Century-Fox, head of Paramount TV, and head of programming at ABC Television. The shows he was responsible for included Star Trek, The Odd Couple, The Brady Bunch, Mission: Impossible, and Wonder Woman. He was also the executive producer of Dynasty.
This deal continues the trend of wealthy people from California buying luxury homes in Miami Beach.