Mexican film producer buys Hibiscus Island mansion

Buyer German Rosete has been linked to telenovela star Zuleyka Rivera

German Rosete with 70 North Hibiscus Drive (Getty, Douglas Elliman)
German Rosete with the property (Getty, Douglas Elliman)

UPDATED, Feb. 24, 3:45 p.m.: Mexican producer and businessman German Rosete paid $6.5 million for a mansion on Hibiscus Island in Miami Beach.

Rosete, who has been linked to Puerto Rican actress Zuleyka Rivera, acquired the 8,147-square-foot house on North Hibiscus Drive, according to a source familiar with the deal. Rosete purchased the property through the company 4731 Lake Road Inc., which he heads as president and which is also managed by Rafael Garcia, corporate documents show.

Rosete’s purchase marks the highest price paid for a non-waterfront Miami Beach home since the Versace Mansion, now called the Villa Casa Casuarina, sold in 2013 for $41.5 million.

Lourdes Alatriste of Douglas Elliman represented the seller of the Hibiscus Island home. Valentina Grajales of Fortune International Realty represented the buyer.

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Property records show the seller is Santorini Revocable Living Trust, managed by Regina M. Campbell. Teddy Kevin Truchot, co-founder and partner at BlackDivine, an internet company and venture capital firm, and his wife Pauline own the trust, records show.

The Truchots bought rapper Bryan “Birdman” Williams’ home nearby at 70 Palm Avenue last year for nearly $11 million.

The same trust paid $2.4 million for the 14,375-square-foot Hibiscus Island property and tapped MV Group USA, led by Manny Varas, to build the six-bedroom, six-bathroom and one half-bath house that Rosete purchased. It features 22-foot ceilings, a glass enclosed balcony, a master suite, lap pool with covered terrace, and an outdoor kitchen and bar.

Earlier this year, reggaeton singer and songwriter Nicky Jam sold his non-waterfront Palm Island home for $3.1 million to Christian Iacovelli, president and CEO of Rally Manufacturing.