Artefacto owner flips Dilido Island lot, hops to Hibiscus Island

Miami /
Sep.September 12, 2018 08:45 AM

Paulo Bacchi and 375 North Hibiscus Drive

Paulo Bacchi, owner of Artefacto luxury furnishing, is making real estate moves.

Bacchi’s Grove Penthouse LLC sold the 10,500-square-foot lot on Dilido Island for $5.85 million in late August. He is closing on a near 16,000-square-foot lot on Hibiscus Island, where he intends to build a home.

The sale of the Dilido Island waterfront property at 220 West Di Lido Drive came six months after he purchased it in February for $5 million, property records show. Bacchi sold the lot to Amerigo Real Estate Inc., which is led by Nicolas Chambon of Brickell.

Brett Harris of Douglas Elliman represented the buyer and seller of the Dilido Island sale.

Bacchi is closing on a lot on Hibiscus Island — at 375 North Hibiscus Drive — for $5.6 million, Harris said. He and Elliman’s Brian Judge are brokering the off-market deal.

Bacchi will build his home on the 15,750-square-foot Hibiscus Island property.

“When I bought [the Dilido Island property] I intended to build a dream home for my family,” he said. “I did a full set of beautiful drawings with Domo [Architecture & Design] and I came to the conclusion that 60 feet of water was not enough for my dream home.” He added, “Hibiscus was more our environment. We felt safer in a gated community.”

Harris said that he was looking for the right property for Bacchi for nearly two years. The Hibiscus Island lot has 90 feet of water frontage.

Bacchi is also building a new Miami headquarters for Artefacto at 101 South Dixie Highway in Coral Gables. The city approved the 40,000-square-foot, two-story showroom, also designed by Domo, last year.


Related Articles

arrow_forward_ios
114 West San Marino Island

Island Queen Cruises founder sails away from Venetian Islands home for $6M

Island Queen Cruises founder sails away from Venetian Islands home for $6M
Julian Johnston and Nelson Gonzalez with the property (Credit: Paul Stoppi)

Developer sells waterfront Venetian Islands spec manse for record $3,100 psf

Developer sells waterfront Venetian Islands spec manse for record $3,100 psf
Joshua W. Maes and 440 Dilido Drive (Linkedin, Luxe Living Realty)

Data center executive buys Venetian Islands mansion for $10M

Data center executive buys Venetian Islands mansion for $10M
Eddie Irvine with 1061 N Venetian Drive and 1350 S Venetian Way (Getty, Realtor)

Spec home developer Eddie Irvine buys Venetian Islands lot

Spec home developer Eddie Irvine buys Venetian Islands lot
Brian Stafford & Celine Dufetel, with the home (Credit: Google Maps)

C-suite execs pay $13M for Venetian Islands mansion

C-suite execs pay $13M for Venetian Islands mansion
Julian Johnston, Gatien Salaun, and 709 East Dilido Drive

Brazilian billionaire sells Venetian Islands home for $10M

Brazilian billionaire sells Venetian Islands home for $10M
Jacques Nasser aJacques Nasser and 445-441 East Rivo Alto Miami Beachnd 445-441 East Rivo Alto Miami Beach (Courtesy of Dora Puig / Luxe Living Realty)

Longtime Ford Motor exec sells Venetian Islands estate for $18M

Longtime Ford Motor exec sells Venetian Islands estate for $18M
941 North Venetian Drive (Kris Tamburello for Douglas Elliman)

Developers sell Venetian Islands spec mansion for $13.6M

Developers sell Venetian Islands spec mansion for $13.6M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...