German developer sells waterfront mansion in Miami Beach’s Biscayne Point for record $15M

A German real estate developer sold a waterfront mansion in Miami Beach’s Biscayne Point neighborhood for a record $15 million.

Property records show 1388 Biscayne Point Road LLC, a Florida entity managed by Ugo Hensgen, sold the house at 1388 Biscayne Point Road to the German firm Vitaro Americas GmbH & Co. The true buyer is unknown.

The off-market deal marks a price record for residential sales in Biscayne Point, although it may not hold the title for long. In December, the estate of late Continental National Bank founders Fanny and Charles Dascal listed their waterfront Biscayne Point mansion for $36 million, the Wall Street Journal reported.  

Hensgen is a real estate developer based in Dusseldorf, Germany. He bought the Biscayne Point Road property for $2.3 million in 2018, property records show. He tore down the existing house and completed a 8,700-square-foot mansion on 0.3 acres in 2022. Spanning six bedrooms, six bathrooms and two half-bathrooms, the house also has a pool and a dock.

Prices have surged in Biscayne Point in recent years. In 2022, Cognito co-founder John Backus bought a waterfront house for $13 million from hospitality mogul Francis Milon. In 2021, author and photographer Ira Resnick bought a waterfront spec house for $8.2 million. 

More recently in Miami Beach, mental health professionals Dr. John H. Burger Jr. and James Gerhardstein sold a waterfront home for $9.9 million in January. Also last month, the son of an Irish retail magnate, Bernard Heffernan, sold a non-waterfront Venetian Islands house for $6.5 million.