After selling their Richmond Hotel in Miami Beach, this couple bought a new house

They sold the Richmond to Michael Shvo and partners for $88M

Miami /
Oct.October 21, 2019 12:30 PM
Patti and Allan Herbert with 4845 Southwest 78th Street (Credit: University of Miami and Redfin)

Patti and Allan Herbert with 4845 Southwest 78th Street (Credit: University of Miami and Redfin)

Miami philanthropists and former hotel owners Patti and Allan Herbert paid $6 million for a mansion near Coral Gables.

The Herberts, who have donated more than $100 million to the University of Miami, closed on the home at 4845 Southwest 78th Street, according to property records. Daniel Toccin, a real estate agent with Compass, and his wife, Ferne Toccin, sold the 9,494-square-foot, seven-bedroom home. Ferne is the daughter of the late Donald Jacobson, a real estate executive.

In August, the Herberts sold their Richmond Hotel in Miami Beach to Shvo’s New York-based SHVO, Bilgili Holdings and Deutsche Finance America for $87.85 million.

Allan Herbert is a past president of Financial Indemnity, an auto insurance subsidiary of Unitrin, while Patti previously worked for Grubb & Ellis, a commercial real estate firm, according to the Miami Herald.

Records show the Toccins paid $3 million for the home in 2004, the year it was completed. The house, with marble floors, crown moldings and hand-forged railings, sits on a 1-acre lot in the Ponce Davis neighborhood of Miami. The property also features a pool, home theater, three-car garage, master suite and a library.

Liz Hogan and Daniel Toccin of Compass were the listing agents, while Jose Luis Pere, also with Compass, brought the buyers, according to Redfin.


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