Developer Philippe Harari just sold his Miami Beach spec house on exclusive La Gorce Island for $62.5 million.
While the buyer is currently unknown, the home, at 98 La Gorce Circle, had previously been in contract for more than $70 million to a former NBA team owner, Gimme Shelter has learned.
Its original asking price was $75 million.
Harari, founder of Aquablue Group, bought the property for $9.33 million in 2019, according to records. The sale was first reported by the Real Deal.
The exclusive enclave’s past and present residents include Cher, Billy Joel, Lil Wayne, Jennifer Lopez, Dwayne Wade and Matt Damon. The sale is a record for the island.
At more than 12,800 square feet, the massive abode — known as Villa Arte — is more like a ritzy resort than a residence. The home, which sits on 0.8 acres, was built in 2023. It comes with seven bedrooms, 10 baths and three powder rooms.
The open layout includes a chef’s kitchen, a gym, a spa, a home theater, a marble wine cellar, multiple terraces and walls of glass that recede for fluid indoor/outdoor living.
The statement main bedroom is a sprawling 1,800 square feet. Design details include an entrance in bronze, travertine and white oak. Interiors feature leather, marble and wall coverings by Italian artisans. The smart-wired home is also LEED Gold certified, with insulated impact glass and a generator.
Outside, there’s an infinity-edge pool and a hot tub, a summer kitchen and a fire pit. There’s also a dock for a large yacht — all with 172 feet on the water.
Harari was represented by One Sotheby’s International Realty’s Mirce Curkoski and Albert Justo. The buyer was repped by Jill Eber with the Jills Zeder Group.