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.


Related Articles

arrow_forward_ios
Richard Bressler and Lisa Gersh with 1425 West 25th Street, Miami Beach (Getty, Google Maps)

Media titans buy Sunset Islands home for $5M

Media titans buy Sunset Islands home for $5M
Ruthie and Ethan Assouline lead Compass’ Assouline Team. (The Assouline Team, iStock)

Compass’ Assouline Team expands to Miami Beach

Compass’ Assouline Team expands to Miami Beach
Images of Arte, Ritz-Carlton Residences Miami Beach, Ritz-Carlton Residences Miami Beach and One Thousand Museum (One Thousand Museum via One Sotheby's)

Buyers shift to condos as waterfront single-family luxury inventory dwindles in South Florida

Buyers shift to condos as waterfront single-family luxury inventory dwindles in South Florida
Chris Bosh and his North Bay Road home, 6396 North Bay Road (Getty, One Sotheby’s International Realty)

Chris Bosh sells waterfront Miami Beach mansion for $15M

Chris Bosh sells waterfront Miami Beach mansion for $15M
Miami-Dade condo sales and the Ritz-Carlton Residences, Miami Beach (Google Maps)

Miami-Dade condo sales and closed dollar volume jump after slow start to year

Miami-Dade condo sales and closed dollar volume jump after slow start to year
Pierre Pomerleau and Eighty Seven Park (8701 Collins Avenue, Miami Beach)

Canadian construction mogul buys another condo at Eighty Seven Park

Canadian construction mogul buys another condo at Eighty Seven Park
Billionaire hedge fund manager Dan Loeb and renderings of 6440 North Bay. (Third Point, To Better Days Development)

Billionaire hedge funder Dan Loeb buys waterfront Miami Beach estate: sources

Billionaire hedge funder Dan Loeb buys waterfront Miami Beach estate: sources
Phil Collins is in contract to sell his waterfront Miami Beach mansion amid a legal battle with his ex-wife, Orianne Bates. (Getty, Coldwell Banker Realty)

Phil Collins finds buyer for waterfront Miami Beach estate listed for $40M

Phil Collins finds buyer for waterfront Miami Beach estate listed for $40M
arrow_forward_ios

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

Loading...