Artefacto owner flips Dilido Island lot, hops to Hibiscus Island

Paulo Bacchi said he will build "dream home" on nearly 16K sf of property

TRD 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
Prive at Island Estates and BH3’s Charlie Phelan, Greg Freedman and Daniel Lebensohn and Gary Cohen

Privé at Island Estates developer sues Suffolk Construction over defects

Privé at Island Estates developer sues Suffolk Construction over defects
Venetian Islands estate (Credit: Paul Stoppi)

Venetian Islands estate with $1M aquarium hits the market for $34M

Venetian Islands estate with $1M aquarium hits the market for $34M
Pierre Brondeau and Palazzo Del Sol

Pesticide exec pays $14M for Palazzo Del Sol condo

Pesticide exec pays $14M for Palazzo Del Sol condo
Howard Lorber and 1525 North View Drive

Howard Lorber buys waterfront Sunset Islands home for $12M

Howard Lorber buys waterfront Sunset Islands home for $12M
2201 Sunset Drive and David Grutman (Credit: Douglas Elliman)

Hospitality mogul David Grutman lists Sunset Islands home

Hospitality mogul David Grutman lists Sunset Islands home
Jim Cohen, Fontainebleau Development’s president of Residential, and Jeffrey Soffer, with SeaGlass Jupiter

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos

Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos
2138 Bay Avenue, Miami Beach (Credit: Google Maps)

Toronto financier pays $14M for Sunset Islands home

Toronto financier pays $14M for Sunset Islands home
Map of priciest condo sales and Palazzo Del Sol (Credit: Google Maps and Douglas Elliman)

$12M Fisher Island closing tops weekly condo sales in Miami-Dade

$12M Fisher Island closing tops weekly condo sales in Miami-Dade
arrow_forward_ios

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

Loading...