CrossCountry Mortgage CEO buys waterfront Hibiscus Island home for $12M

Seller bought the home less than a year ago for $9M

Miami /
Feb.February 08, 2021 09:45 AM
Ronald J. Leonhardt and 225 North Hibiscus Drive, Miami Beach (Photos via LinkedIn; Redfin)

Ronald J. Leonhardt and 225 North Hibiscus Drive, Miami Beach (Photos via LinkedIn; Redfin)

The president and CEO of an Ohio-based mortgage company spent $11.8 million on a waterfront Hibiscus Island home.

Records show Ronald J. Leonhardt, the president and CEO of Brecksville, Ohio-based CrossCountry Mortgage bought the home at 225 North Hibiscus Drive in Miami Beach from Warwick Mobile Home Park LLC, a Virginia company. John A. Franklin signed the deed on behalf of the seller.

In April 2020, Warwick Mobile Home Park LLC bought the Miami Beach home for $9.3 million.

Chad Carroll of The Carroll Group at Compass represented Leonhardt, and Julian Johnston represented the seller, according to Realtor.com.

According to Johnston, the sellers planned on demolishing the existing house. Leonhardt gave an unsolicited offer and the sellers accepted, Johnston said, adding that the home had been abandoned for a year. Waterfront home sales throughout Miami Beach have soared in recent months, due to increased demand throughout the pandemic.

Property records show the home, built in 1934, has eight bedrooms and five bathrooms. It sits on a 26,250-square-foot lot with 150 feet of linear water frontage.

A waterfront mansion on Hibiscus Island sold for $7.8 million in October and in September, a company tied to Orion Real Estate Group paid $6.3 million for a waterfront home.






    Related Articles

    arrow_forward_ios
    Allon Bloch and the North Meridian Avenue property (Bloch via LinkedIn, Sabal Development)
    Medical app mogul buys non-waterfront Miami Beach spec house for $5M
    Medical app mogul buys non-waterfront Miami Beach spec house for $5M
    Daisy Chaplin and Charles Prince with the property at 6000 North Bay Road (Getty, Google Maps)
    Late Broadway legend Harold Prince’s children settle dispute over family’s North Bay Road mansion
    Late Broadway legend Harold Prince’s children settle dispute over family’s North Bay Road mansion
    Entrepreneur Adam Arviv pays $8M for Palazzo Della Luna unit
    Entrepreneur Adam Arviv pays $8M for Palazzo Della Luna unit
    Entrepreneur Adam Arviv pays $8M for Palazzo Della Luna unit
    I’ll take it: David Martin sells waterfront Miami Beach home to his listing agent
    I’ll take it: David Martin sells waterfront Miami Beach home to his listing agent
    I’ll take it: David Martin sells waterfront Miami Beach home to his listing agent
    Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
    Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
    Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
    Eighty Seven Park and the lot where the Champlain Towers South once stood (Douglas Elliman)
    Italian investor sells Eighty Seven Park unit to hedge funder in first closing since deadly condo collapse next door
    Italian investor sells Eighty Seven Park unit to hedge funder in first closing since deadly condo collapse next door
    A unit in Continuum South Beach was the top sale last week (Luxhunters for ONE Sotheby’s International Realty)
    Tech entrepreneur’s purchase of Continuum unit leads Miami-Dade weekly condo sales
    Tech entrepreneur’s purchase of Continuum unit leads Miami-Dade weekly condo sales
    830 Brickell and the co-developers Cain's Jonathan Goldstein and Vlad Doronin (Getty, OKO Group / Cain International)
    Lease roundup: Canada’s CI Financial picks Brickell for new US HQ
    Lease roundup: Canada’s CI Financial picks Brickell for new US HQ
    arrow_forward_ios

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

    Loading...