A Miami Beach mansion, listed for $25 million in 2009, sold this week to a German businessman for $16 million, a Miami real estate agent said. The agent also said that the German will not live in Miami Beach but will use the mansion as a vacation home in Miami Beach.
The Miami Beach mansion located on 88 La Gorce Circle is 17,200 square feet of living space, has two docks, a staff house, a five-car garage a marble staircase and an elevator. The 10-bedroom Miami Beach mansion was built “on spec” by developer, Todd Glaser in hopes to find a wealthy buyer once the Miami real estate project was finished. Glaser began the construction of the Miami Beach mansion in January 2008 and at the same time the credit crisis was beginning in November 2008, the mansion was completed.
Nearly 18 months later, The Miami Beach mansion sold furnished 18 months later for $16 million, much less than the asking price of $25 million. In 2009, the price was reduced to $19.5 million. It is believed to be the priciest Miami real estate property deal in Miami-Dade since Shaquille O'Neal's sold his $16 million Star Island mansion a year ago. Armin Mattli, owner of Clinique La Prairie spa and a real estate investor, was Glaser's partner in the, according to the sellers' law firm, Waserstein Nunez & Foodman
Contributed by MLR Realty
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