In a remarkable real estate transaction, a property on Miami Beach’s exclusive La Gorce Island sold for an impressive $22.13 million, with proceeds set to support various charitable causes. This sale, one part of a larger deal involving several properties on the island, marks another generous contribution from the M. Lee Pearce Living Trust.
Managed by Thomas Neary and Claudia Perez Neary, the purchasing entity, 16 La Gorce LLC, secured the 20,000-square-foot lot at 16 La Gorce Circle. The property, which includes a 7,453-square-foot home built in 1936, was previously part of a portfolio Dr. M. Lee Pearce, a philanthropist and prominent figure in Miami, held for over 40 years. The Royal Bank of Canada financed the purchase with a $15.4 million mortgage.
This recent transaction follows the September announcement by Daniel Hertzberg of the Jills Zeder Group at Coldwell Banker Realty, who managed the sale of four La Gorce Circle lots for a combined $122 million. While three lots were sold to a single buyer, this final parcel completed the significant property transfer, with all proceeds benefiting charities Dr. Pearce had passionately supported during his life.