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
    6345 Collins Avenue (Colliers)
    Oceanfront Casablanca condo-hotel in Miami Beach for sale
    Oceanfront Casablanca condo-hotel in Miami Beach for sale
    Allied Partners' Eric Hadar and RH's Gary Friedman with the Savoy hotel (Allied Partners, Getty, Google Maps)
    Inside RH’s plans for $100M renovation of Miami Beach hotel
    Inside RH’s plans for $100M renovation of Miami Beach hotel
    Gables Club Tower II at 60 Edgewater Drive in Coral Gables (Condo.com, Getty)
    Coral Gables closing tops Miami-Dade’s weekly condo sales
    Coral Gables closing tops Miami-Dade’s weekly condo sales
    Lil Wayne and 6480 Allison Road in Miami Beach (Getty Images, Become Legendary/Douglas Elliman Realty)
    Lil Wayne lists Miami Beach mansion for $30M
    Lil Wayne lists Miami Beach mansion for $30M
    Moto Capital Group's Marcos Lima with 350 Ocean Drive (Loopnet, LinkedIn, Getty)
    Toronto firm picks up Ocean Drive hotel for $39M
    Toronto firm picks up Ocean Drive hotel for $39M
    John Howard Kunkel with 1030 Stillwater Drive (LinkedIn, Google Maps)
    50 Eggs restaurateur John Kunkel buys waterfront Miami Beach home
    50 Eggs restaurateur John Kunkel buys waterfront Miami Beach home
    Red South Beach at 3010 Collins Avenue, Tom Assouline and August “Gussie” Busch (Instagram/gussiebusch, Google Maps, Getty)
    Busch family partners with Assouline Capital to buy Red South Beach hotel
    Busch family partners with Assouline Capital to buy Red South Beach hotel
    Mario Carbone and the Palm Island house (Getty Images, Google Maps)
    Major Food Group’s Mario Carbone buys Miami Beach home
    Major Food Group’s Mario Carbone buys Miami Beach home
    arrow_forward_ios

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

    Loading...