Leveling up: Gaming mogul sells Hibiscus Island mansion for $32M 

The founder of video game publisher Tilting Point sold his Hibiscus Island mansion in Miami Beach for $31.9 million.

Records show Kevin and Michelle Segalla sold the waterfront home at 320 South Hibiscus Drive to Sun Hills LLC, a Delaware entity. The true buyer is unknown. 

Jill Hertzberg, Jill Eber and Danny Hertzberg of the Jills Zeder Group at Coldwell Banker had the listing, and Jill Hertzberg brought the buyer.

Kevin Segalla is the founder and CEO of Tilting Point, a New York City-based mobile game publisher with a portfolio of IP-focused games using characters like Spongebob, Strawberry Shortcake, Hello Kitty and Barbie. He’s also the founder of Stamford, Connecticut-based investment firm CFC Capital, where Michelle Segalla is also a managing partner. 

The couple bought the Hibiscus Island mansion for $29.1 million in 2022 from spec developer Ilya Karpov. Karpov completed the 7,800-square-foot house on 0.4 acres that year. It has seven bedrooms, seven bathrooms, one half-bathroom, a pool and a dock, records and the listing show.

The Segallas listed the home for $37.5 million in November, and dropped the price twice before selling for $31.9 million this month, Redfin shows.

The sale comes on the heels of a record sale on neighboring Palm Island, where Chilean developer and casino mogul Claudio Fischer sold a spec mansion for $40 million last month. Hibiscus and Palm are both coveted luxury island neighborhoods in Miami Beach. In April, jeweler Paul Morelli sold a waterfront Hibiscus Island teardown for $15.4 million to Malik Sefrioui, son of Moroccan real estate billionaire Anas Sefrioui.