La Gorce mansion fetches $30 million

06/24/2013 7:48 PM

06/24/2013 7:50 PM

A spectacular Mediterranean-style estate at 42 La Gorce Cir. sold Monday for $30 million. The sale was the highest to date in the gated community of La Gorce Island in Miami Beach.

The 8-bedroom, 9 1/2-bath house had once belonged to flamboyant Miami banker David Paul until federal charges in the 1990s related to his misuse of bank funds while chairman of CenTrust Savings Bank resulted in his incarceration.

The ornate mansion features hand-painted ceilings, gold-leaf trim, two kitchens (one for the chef, one for the owner), a library, theater and rooftop lounge. It boasts 349 feet of frontage on Biscayne Bay. Known as Castello del Sol, the estate includes a one-bedroom guest house; a two-bedroom, two-bath staff apartment; and a guard house on the 70,000-square-foot lot.

“The market is hot,’’ said Esther Percal, an agent with EWM Realty International who brought the buyer, listed in the name of a European corporation. The seller, who paid $12,450,000 for the home in March 2001, also held the property in a corporation, 1418518 Ontario Inc.

The closing marked the second $30 million deal within a month for the listing agents, Jill Eber and Jill Hertzberg of Coldwell Banker. The Jills brought the buyer for the May 24 sale of Yankee slugger Alex Rodriguez’s house at 4358 N. Bay Rd., Miami Beach.

Editor's Choice Videos

Join the Discussion

Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service