Key Takeaways
- • Hedge fund manager Nick Maounis purchased a neighboring La Gorce Island property for $31.5 million, achieving approximately $1,575 per square foot—one of the highest price-per-square-foot figures in Miami-Dade County history for land.
- • The 5,400-square-foot, four-bedroom residence expands Maounis's Miami Beach real estate footprint to 1.6 acres across two contiguous La Gorce Island properties, representing a combined $106.5 million investment or $66.6 million per acre.
- • Maounis, CEO of Greenwich-based Verition Fund Management (managing $14.4 billion as of early 2026), acquired the neighboring home just over one year after purchasing the adjacent 21,700-square-foot mansion for $75 million in May 2025, which he planned to gut-renovate.
- • The property's valuation reflects significant appreciation; the half-acre lot last traded in 1982 for $500,000, representing a 63-fold increase in nominal value over 44 years.
- • Maounis maintains additional Miami Beach waterfront holdings, including a $26 million Pine Tree Drive estate purchased in 2022, building a multi-property portfolio in South Florida's ultra-luxury market.
Summary
Hedge fund manager Nick Maounis has expanded his Miami Beach compound by acquiring a neighboring La Gorce Island property for $31.5 million, closed on March 20, 2026. The purchase of 84 La Gorce Circle—a 5,400-square-foot, four-bedroom residence on a half-acre lot—represents a strategic land consolidation effort designed to create a unified ultra-luxury estate on Miami Beach's most exclusive peninsula.
The transaction highlights the premium valuations commanding Miami-Dade County's luxury land market. The property traded at $1,575 per square foot, a per-square-foot figure that STRE Management, the seller's representative, characterized as "one of the highest price-per-square-foot figures in Miami-Dade history" for land. A comparable property on the same street (68 La Gorce Circle) sold for $1,713 per square foot in August 2025. The half-acre parcel had been listed for $39 million before selling below ask, consistent with broader market normalization in ultra-luxury segments.
The La Gorce Island holdings now total 1.6 acres with $106.5 million in combined capital deployed, translating to approximately $66.6 million per acre. This acquisition complements Maounis's May 2025 purchase of the adjacent 21,700-square-foot, nine-bedroom mansion at 88 La Gorce Circle for $75 million. Maounis and his wife, Susan, announced intentions to gut-renovate that property, suggesting the two adjacent parcels are being assembled for unified redevelopment.
Maounis, 61, serves as CEO of Verition Fund Management, a Greenwich, Connecticut-based firm managing $14.4 billion as of the start of 2026. He founded Amaranth Advisors, which collapsed in 2006 following a $6 billion loss on natural gas futures positions. Beyond his La Gorce Island portfolio, Maounis owns an additional Miami Beach waterfront estate on Pine Tree Drive, acquired for $26 million in 2022 from David and Leila Centner, founders of Centner Academy. The property's acquisition history demonstrates significant appreciation; the La Gorce Circle lot last traded in 1982 for $500,000, representing a 63-fold nominal increase.
The transaction highlights the premium valuations commanding Miami-Dade County's luxury land market. The property traded at $1,575 per square foot, a per-square-foot figure that STRE Management, the seller's representative, characterized as "one of the highest price-per-square-foot figures in Miami-Dade history" for land. A comparable property on the same street (68 La Gorce Circle) sold for $1,713 per square foot in August 2025. The half-acre parcel had been listed for $39 million before selling below ask, consistent with broader market normalization in ultra-luxury segments.
The La Gorce Island holdings now total 1.6 acres with $106.5 million in combined capital deployed, translating to approximately $66.6 million per acre. This acquisition complements Maounis's May 2025 purchase of the adjacent 21,700-square-foot, nine-bedroom mansion at 88 La Gorce Circle for $75 million. Maounis and his wife, Susan, announced intentions to gut-renovate that property, suggesting the two adjacent parcels are being assembled for unified redevelopment.
Maounis, 61, serves as CEO of Verition Fund Management, a Greenwich, Connecticut-based firm managing $14.4 billion as of the start of 2026. He founded Amaranth Advisors, which collapsed in 2006 following a $6 billion loss on natural gas futures positions. Beyond his La Gorce Island portfolio, Maounis owns an additional Miami Beach waterfront estate on Pine Tree Drive, acquired for $26 million in 2022 from David and Leila Centner, founders of Centner Academy. The property's acquisition history demonstrates significant appreciation; the La Gorce Circle lot last traded in 1982 for $500,000, representing a 63-fold nominal increase.
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