Hibiscus Island waterfront teardown sells for $9M

A Christian non-profit that delivers scripture throughout the world sold a waterfront home on Miami Beach’s Hibiscus Island for $9.3 million.

New Paris, Indiana-based World Missionary Press sold the 7,050-square-foot house at 225 North Hibiscus Drive for $1,319 per square foot, records show. Warwick Mobile Home Park LLC, led by Dalton Warwick of Palatka, Florida, bought the property.

The house was deeded to the World Missionary Press by Paul H. Fausnight in 2019, records show. World Missionary Press is an “interdenominational faith ministry producing 48-page topical Scripture booklets and Bible studies in more than 345 languages,” according to its website.

The home was built in 1934 and sits on a 26,250-square-foot lot, according to records. It has eight bedrooms and five bathrooms.

The listing describes it as a “Rare opportunity to build your mansion with your mega yacht on over a half-acre.”

It was last purchased for $350,000 in 1981, records show.

Daniel Alvarez

The seller was represented by Laurie Finkelstein Reader with Laurie Finkelstein Reader Real Estate, LLC, according to Realtor.com. Daniel Alvarez of Miles Goldstein Real Estate represented the buyer.

In December, Moishe Mana sold a 1937 home on Hibiscus Island at 420 South Hibiscus Drive for $12 million. In December, a Russian mogul sold a waterfront spec home at 38 South Hibiscus Island Drive for $14.2 million.