Luxury Real Estate Milestone: La Gorce Island Mansion Sells for $60M in Off-Market Deal
Four-Year Dream Home Project Culminates in Multi-Million Dollar Sale
In a striking example of Miami Beach's enduring appeal to ultra-high-net-worth buyers, developer James Curnin and his wife Jennifer have sold their meticulously crafted waterfront mansion for an impressive $60 million—after living in it for less than six months. The property at 66 La Gorce Circle, situated on the exclusive La Gorce Island, features 9,640 square feet of living space on a 0.4-acre lot with coveted northern exposure overlooking Normandy Isle.
"It was never really intended to be for sale," revealed Curnin, founder and CEO of Clara Homes, describing the decision to part with their family home as "really tough." The Curnins had only recently completed construction in late August 2024 and moved into the residence by September, enjoying their custom-built dream home for just a matter of months before the sale.
Architectural Excellence Meets Premium Design
The architectural masterpiece was designed by renowned architect Max Strang, known for his distinctive modernist approach that harmonizes with South Florida's tropical environment. The interior spaces showcase the sophisticated work of prestigious New York-based design firm Pembrooke & Ives, who created custom furnishings specifically for the property—most of which were included in the sale.
This attention to detail and commitment to quality likely contributed to the remarkable valuation, representing a stunning return on investment considering Clara Homes initially purchased the property for just $7.5 million in 2020. After demolishing the existing structure, the Curnins embarked on their four-year journey to create this architectural gem that ultimately sold in an off-market transaction brokered by Jordan Karp.
While Curnin declined to identify the buyer, property records indicate the new owner is a land trust named after the property's address—a common privacy strategy employed by high-profile purchasers in premium real estate transactions.
La Gorce Island: Miami's Ultra-Luxury Enclave
This sale further cements La Gorce Island's status as one of Miami Beach's most desirable addresses. The island has recently seen other significant transactions, including consumer goods multimillionaire Anand Khubani's $100 million acquisition of multiple properties at 18, 22, and 24 La Gorce Circle in September 2024. Khubani reportedly plans to develop a sprawling estate across these combined lots, highlighting the trend of estate consolidation among ultra-wealthy buyers.
La Gorce Island offers residents unparalleled privacy and security while providing convenient access to Miami Beach's world-class amenities, international airports, and cultural attractions. The island's limited inventory and exclusive atmosphere continue to drive premium valuations for properties that rarely come to market.
Clara Homes' Growing Portfolio of Luxury Developments
The sale represents another successful transaction for Curnin's Clara Homes, which has established itself as a significant player in South Florida's luxury real estate market. Prior to this record-breaking sale, the development firm sold an unfinished waterfront spec house on the nearby Venetian Islands to Long Light Capital's Justin Korsant for $23.1 million.
Clara Homes continues to expand its footprint with ongoing development projects in Miami's trendy Wynwood neighborhood and Bay Harbor Islands. The company's focus on architectural distinction and premium craftsmanship has positioned it favorably in the competitive luxury development space.
Record-Breaking Real Estate Momentum Across South Florida
The $60 million La Gorce Circle transaction contributes to an impressive streak of high-value property sales throughout Miami Beach and the broader South Florida region in early 2025. Most notably, billionaire developer Vlad Doronin recently sold his waterfront Star Island estate for a staggering $120 million to a Delaware entity led by businessman Michael Ferro, establishing a new record for residential sales in Miami-Dade County.
Around the same time, gaming entrepreneur Richard Skelhorn paid $45 million for a waterfront mansion at 40 Palm Avenue, setting a record for Palm Island. These transactions demonstrate the continued confidence in South Florida's luxury real estate market despite broader economic fluctuations.
Industry experts attribute this sustained demand to Florida's favorable tax environment, year-round pleasant climate, and Miami's evolution into a global business hub, particularly for finance and technology sectors. The influx of wealthy individuals and families relocating from higher-tax states and international locations continues to fuel the market for trophy properties.
Insights on Miami's Luxury Real Estate Market
Why are off-market deals becoming more common in Miami's luxury real estate scene?
Off-market transactions provide privacy and exclusivity for high-profile buyers and sellers. They allow discretion throughout the process and prevent properties from appearing "stale" if they remain on the market too long. For unique properties like the Curnin mansion, direct connections between brokers and potential buyers often yield the highest valuations without broad market exposure.
What return on investment can luxury developers expect in Miami Beach currently?
The Curnins' project demonstrates the extraordinary potential returns in this market segment. From a $7.5 million land purchase in 2020 to a $60 million sale in 2025 represents an approximately 700% increase, even accounting for substantial construction and design costs. However, such returns typically require exceptional vision, premium locations, architectural distinction, and patience through extended development timelines.
How does Miami Beach's luxury market compare to other global luxury destinations?
Miami Beach has solidified its position alongside traditional luxury markets like New York, London, and Monaco. However, it offers larger lot sizes, newer construction, and waterfront access at relatively better values than some global counterparts. The city's evolving cultural institutions, restaurant scene, and business environment have elevated its profile beyond just a vacation destination, attracting permanent wealth migration that sustains demand for trophy properties.
What factors are most important for achieving premium valuations in today's market?
Properties commanding top dollar typically feature waterfront locations, architectural significance, turnkey readiness with designer furnishings, smart home technology, resort-style amenities, and exceptional privacy/security features. The Curnin property exemplifies these attributes, explaining its substantial valuation despite the relatively modest lot size by ultra-luxury standards.
