The Real Deal Miami

Hibiscus Island spec home hits the market for $17M

Waterfront home is asking $2,160 psf, will be completed next year
By Katherine Kallergis | May 25, 2017 08:45AM

Renderings of 350 South Hibiscus Drive. Inset: listing agent Julian Johnston

A spec home under construction on Miami Beach’s Hibiscus Island was just listed for $17 million, according to listing agent Julian Johnston.

Property records show Anatoly Petukhov owns the waterfront property at 350 South Hibiscus Drive. It’s the first house Petukhov is building in Miami Beach, Johnston said. Construction is about halfway done, and it’s slated to be completed by the winter of 2018.

The eight-bedroom, 7,875-square-foot home is being designed by Roney Mateu of Mateu Architecture and will have modern, European finishes, Johnston said. It will also feature floor-to-ceiling windows, a large patio with an infinity pool, spa, tropical landscaping and a boat dock, according to the listing.

It’s on the market for nearly $2,160 per square foot.

Petukhov, who designed the two-story home for himself and his family, paid $7 million or $444 per square foot in 2015 for the 15,750-square-foot lot. Johnston said the owner may live in the house if he doesn’t sell it for the right price.

Hibiscus Island is home to 12 waterfront listings, according to Realtor.com. The priciest include 428 South Hibiscus Drive, which is on the market for nearly $30 million, and 440 South Hibiscus Drive, which is now listed for $18.9 million with the Jills. The latter is a recently completed 6,600-square-foot house owned by a Switzerland-based doctor. It sits on a roughly 11,000-square-foot lot. The house is on the market for $2,860 per square foot.

Petukhov’s home is the third most expensive on Hibiscus.