Waterfront Hibiscus Island mansion sells for $8M

Property first hit the market for $13M in 2018

121 N Hibiscus Drive (Realtor)
121 N Hibiscus Drive (Realtor)

UPDATED: Oct. 17, 5:20 p.m.: Paul Wallner bought a Hibiscus Island waterfront mansion for $7.8 million, records show.

Wallner bought the Miami Beach home at 121 North Hibiscus Drive from Marlon Meir Avneri, according to records.

Danny Hertzberg with Coldwell Banker Realty represented Avneri, who bought the property in 2017 and listed it the following year at $13 million. After price chops, it was most recently asking $7.9 million in September.

Sign Up for the undefined Newsletter

The home, built in 1998, sits on nearly half an acre of land and has seven bedrooms and nine-and-a-half bathrooms. It also features a pool, 120 feet of water frontage and a private dock with a boat lift, according to the listing.

Nearby, Miami Beach’s Venetian Islands have seen several pricey sales recently. Among them, two c-suite executives at different companies bought a Venetian Islands mansion for $12.8 million, a Brazilian billionaire sold a waterfront home for $10.2 million and a former Ford executive sold his estate for $18 million.

Correction: A previous version of this story incorrectly identified a different Paul Wallner as the buyer.