Miami Real Estate Miami Homes Miami Condos Miami Beach
28 Aug 2012

Miami Beach Home Formerly Owned By Jennifer Lopez Is On The Market For $40M

A fabulous home in Miami Beach that used to be owned by the famous singer-actress
Jennifer Lopez has been placed back on the property market for a value of $40 million
which is more than 25 percent higher than its original listing price.

Originally placed on the market in 2010 for a value of $29 million, the current
owners, Mark and Elyse Gainor, are now looking to set the bar even higher.

In 2011, the Miami Beach home was included in Miami’s ten most expensive home
for the year. However, the Gainors are now looking to sell the home for $40
million which is largely due to the increase in property values within the area.

The seven-bedroom, eleven-bathroom two-story Mediterranean-styled home was built
in 1929. It has a total area of 12,153 square feet which includes a three-car garage, its
own private dock, and an overlooking pool which offers scenic views of the beautiful
Biscayne Bay.

After having purchased the home for $13.9 million in 2005, the Gainors have spent an
additional $11 million for renovations.

Selda Kirkan
phone: +1.954.3056424