The Real Deal Miami

Buyer revealed: Brazilian pharmaceutical exec pays $14M for Miami Beach home

Jose Luiz Depieri is vice chairman of Brasil Pharma SA
By Katherine Kallergis | May 27, 2016 12:45PM

151 North Hibiscus Drive in Miami Beach

151 North Hibiscus Drive in Miami Beach

A Brazilian pharmaceutical executive is the buyer of a spec home on Hibiscus Island, records show.

Jose Luiz Depieri, vice chairman of Brasil Pharma SA, paid $13.6 million for the waterfront home at 151 North Hibiscus Drive in Miami Beach. Depieri financed the deal with a $9.52 million mortgage from JPMorgan Chase.

The Aquablue Group, led by developer Philippe Harari, built the two-story, six-bedroom home, which was designed by Reinaldo Borges’ Borges + Associates Architects. Depieri’s new Miami Beach house features Creston smart home technology, a rooftop deck with a summer kitchen, marble and oak floors, and a “floating” glass stairway.

Aquablue put the 6,913-square-foot home on the market in April for $15.5 million. Julian Johnston of Calibre International Realty represented the seller, while David Pobiak of Beachfront Realty represented the buyer, whose identity he declined to disclose.

Brazilian interest in South Florida real estate has dwindled over the past year. As of March, the Miami Association of Realtors reported that Brazil fell to the No. 5 spot on foreign interest in Miami real estate. The nation boasted a relatively small share of foreign home transactions in Miami last year, making up only 2 percent of all home sales to foreign buyers.

Depieri’s company is one of the largest in Brazil’s retail pharmaceutical sector, according to its LinkedIn page. It owns more than 637 drugstores as of 2011.

The sale was announced earlier this week without a buyer.