Real Estate

The Most Expensive Property for Sale in Florida: $170 Million Miami Beach Estate

Behold the most expensive single-family residential property ever put up for sale in Florida!
Behold the most expensive single-family residential property ever put up for sale in Florida! Photo courtesy of The Jills Zeder Group/1 Oak Studios
Earlier this year, when the Arsht Estate was listed for a whopping $150 million, it shattered the record for the priciest single-family residential property ever put up for sale in Miami-Dade County — whereupon a three-home compound at 18 La Gorce Cir. in Miami Beach said, "Hold my beer."

Last week, the oceanfront estate of the late doctor, philanthropist, and University of Miami trustee M. Lee Pearce went on the market for $170 million — promptly one-upping the Arsht's Estate's short-lived reign as the county's priciest residential listing. In fact, the property's notorious real estate agents, Jill Eber and Jill Hertzberg of the Jills Zeder Group, tell New Times the Pearce compound is actually believed to be the most expensive residential property ever put up for sale in the entire state. 

"To the best of our knowledge, it is the highest price on a single folio residential property offered for sale in Florida," writes one of the Jills (though it's not clear which one) via email. 
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The Pearce compound boasts 600-feet of frontage on Biscayne Bay.
Photo courtesy of the Jills Zeder Group/1 Oak Studios
Situated on the exclusive, gated La Gorce Island in Miami Beach, the Pearce compound boasts three homes — two two-story residences and a smaller one-story home with a guesthouse — each with its own private dock. In total, there are 12 bedrooms, 16 full bathrooms, nine half-bathrooms, and three swimming pools.

The nearly three-acre property boasts statues of Greek gods and goddesses, opulent marble floors, handpainted frescos on the ceiling, crystal chandeliers, an extravagant Spanish-style courtyard, and 600 feet of frontage on Biscayne Bay with panoramic views of the Miami skyline. Not to mention a wine cellar, a vintage movie theater, and a private waterfront park on the property called "Domaine de la Paix et de l’Amour" (French for "Domain of Peace and Love"), decked out with manicured greenery and a waterfront gazebo.
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The owner demolished one of the existing homes to build a private waterfront park.
Photo courtesy of the Jills Zeder Group/1 Oak Studios
But, Jill Eber says, the most extraordinary part of the estate is that it is a collection of four different properties.

"Assemblies are highly sought-after and difficult to put together," she tells New Times. "This one is ready to go."
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Private movie theater
Photo courtesy of the Jills Zeder Group/1 Oak Studios
M. Lee Pearce made his money building and operating hospitals, medical facilities, and banks. He purchased the separate properties throughout the 1980s, paying $3.1 million in total for the four lots. (Pearce tore down one of the homes to build his private park.) Pearce died in 2017, and the compound now belongs to his trust. According to the Wall Street Journal, proceeds from the sale will benefit the Dr. M. Lee Pearce Foundation, which provides grants for medical research and music.

The Jills emphasize that the property is rare and in demand. So if you've got $170 million to spend and want to live down the road from Cher's old pad, Eber suggests you move fast.

"For this property," she advises, "the best is to get involved quickly." 
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One of three pools on the property
Photo courtesy of the Jills Zeder Group/1 Oak Studios
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Alex DeLuca is a staff writer at Miami New Times.
Contact: Alex DeLuca