In Miami Beach, Fla., a waterfront home once owned by the singer and actress Cher is coming on the market for $42.5 million.
Located on La Gorce Island, a gated community connected by bridge to Miami Beach, the home was originally built in 1953, according to listing agent Dina Goldentayer of Douglas Elliman. Cher owned the house in the 1990s, according to the 2011 book “Cher: You Haven’t Seen the Last of Me.”
The current owners are Canadian financier James Eaton and his wife, Cecily Eaton, who paid $17 million in 2020, property records show.
Set on approximately three-quarters of an acre, the property has about 158 feet of frontage on Biscayne Bay, records show. Measuring roughly 12,450 square feet, the house has six bedrooms, Goldentayer said. The Spanish-style house has an interior courtyard and arched windows and doorways.
Cher paid $1.5 million in 1993 for the property, which served as a retreat for her when she left the public eye for several years, according to the book. She filled the home with elaborate and gothic-inspired décor, the book said. Cher sold the house for $4.35 million in 1996 to Barry K. Schwartz, a co-founder of Calvin Klein Inc., and his wife Sheryl Schwartz, records show.
The current owners spent nearly two years gut-renovating the property, raising the ceiling in several places and converting a covered terrace into a sitting room and dining room, Goldentayer said. The primary suite has a sitting room, a marble-clad bathroom and a terrace. The foyer has a double-height ceiling and grand, dual staircase, and the kitchen has gold accents. Off the main salon, there is an Art Deco-style bar area with custom wallpaper.
The outdoor space has “resort vibes,” Goldentayer said, with a 50-foot long pool and a poolhouse with patterned wallpaper that evokes Palm Beach’s Colony Hotel. There is also a hot tub, a cold plunge, and an outdoor shower.
Goldentayer said the Eatons moved in to the property, but she doesn’t know why they are looking to sell.
The property is one of about 30 waterfront homes on La Gorce Island, a guard-gated island lined with palm trees, she said.
Cher, who recently launched the gelato line Cherlato, didn’t respond to a request for comment. Last year, she listed her longtime home in Malibu, Calif., for $85 million. It is currently asking $75 million, according to Zillow.
Overall, luxury sales nationwide have slowed since last year, with sales volume dropping 24.13% during the three months ended June 30 compared with the year prior, according to Redfin. In Miami, sales dropped 40.14% year-over-year.
Goldentayer said overall inventory in Miami Beach is down, resulting in fewer transactions. There are only a handful of available properties at this price point, she said.