Honey co-founder buys waterfront Venetian Islands home for $15M
PayPal paid $4B for Honey in 2019
Did he save time and money on the purchase?
Ryan Hudson, co-founder of the discount and coupon app Honey, paid $15 million for a waterfront home on the Venetian Islands.
Karim Masri, managing general partner of KNR Nightlife Group and KNR Hospitality Group, sold the house at 508 West Dilido Drive in Miami Beach to Hudson, property records show.
Hudson co-founded Los Angeles-based Honey browser extension app in 2012, and the company has offices in Boulder, New York, London, Santa Barbara and Sydney. PayPal bought Honey for $4 billion in 2019.
Masri paid $2.8 million for the Venetian Islands property in 2012, and completed the 5,501-square-foot home in 2018. It hit the market in 2019 for $15.5 million, and the price was increased the following year to $15.8 million, likely due to the increase in demand for waterfront homes in Miami Beach.
Dora Puig of Luxe Living Realty represented Masri, and Betsy Betsy Magde with Compass represented Hudson.
The home, which sits on a 10,500-square-foot lot, has four bedrooms and four-and-a-half bathrooms, a pool, 60 feet of water frontage and a dock with a boat lift. It was designed by Strang Design and has solar panels.
Last year, PayPal co-founder Peter Thiel bought two mansions on the Venetian Islands for $18 million.
Recent Venetian Islands closings include a Canadian financier’s $15.5 million sale of his waterfront mansion. A company linked to homebuilder AquaBlue Group’s owner Philippe Harari also bought a teardown for $11.8 million.