Hedge fund manager Nick Maounis purchased a neighboring property on La Gorce Island in Miami Beach for $31.5 million, according to a March 20 report by The Real Deal. The transaction involved a 5,400-square-foot house at 84 La Gorce Circle, which was sold by Dennery LLC and closed last Thursday.
The sale is notable for its high price per square foot, with the property trading at $1,575 per square foot. STRE Management, representing the seller, said in a statement to The Real Deal that the deal was “effectively a land play” and achieved “one of the highest price-per-square-foot figures in Miami-Dade history” for land. Another nearby home at 68 La Gorce Circle sold for $1,713 per square foot in August.
The half-acre lot was listed for $39 million with Jonathan Alfonso of EXP Realty. Ryan Mendell of Maxwell E Realty represented the buyer. Both agents declined to comment on the identity of the buyer.
Maounis and his wife previously bought the adjacent home at 88 La Gorce Circle for $75 million last May, planning an extensive renovation of the nine-bedroom mansion built in 2008 by Todd Michael Glaser. With both properties combined, they now own 1.6 acres on La Gorce Island with a total investment of $106.5 million—an average of $66.6 million per acre.
Maounis is known as the founder of Amaranth Advisors hedge fund, which collapsed in 2006 after significant losses on natural gas futures. He currently serves as CEO of Verition Fund Management based in Greenwich, Connecticut; Bloomberg reported that Verition managed $14.4 billion at the start of this year.
In addition to their holdings on La Gorce Island, Maounis and his wife own another waterfront estate on Pine Tree Drive in Miami Beach, purchased for $26 million from David and Leila Centner in 2022.
The market for luxury waterfront homes remains strong amid increased interest from wealthy buyers relocating from California to Florida. Land sales are also rising among brokers’ reports. Earlier this month, Mark Zuckerberg and Priscilla Chan closed on an Indian Creek mansion purchase for a record-setting $170 million while it is still under construction.
