A waterfront mansion in Miami Beach traded for $40.3 million, setting a record for home sales on Hibiscus and Palm islands.
A company managed by builder Paul Vogele, who lived in the home, sold the 10,800-square-foot, seven-bedroom, eight-and-a-half-bathroom house at 101 North Hibiscus Drive, according to the Multiple Listing Service. A Wyoming LLC named after the address purchased the property.
The sale overtook the previous record by just $250,000. In May, Chilean developer and casino mogul Claudio Fischer sold a Palm Island spec mansion for $40 million.
The islands, which are guard-gated, are grouped together because they connect via a bridge off the MacArthur Causeway in Miami Beach.
The mansion at 101 North Hibiscus, completed in 2016, sits on a half acre with a 50-foot pool, private dock and rooftop space with a spa and outdoor shower, according to the listing. It was on the market with Jill Hertzberg and Danny Hertzberg of The Jills Zeder Group at Coldwell Banker.
Isaac Malagon with The Chad Carroll Group at Compass represented the buyer. Malagon declined to comment.
The property includes a service wing with a staff apartment, a gym with a steam room and a Swiss kitchen. The seller is Swiss and French, according to a Mansion Global article about the listing in 2018. At the time, the house hit the market for $29 million. Home prices in Miami Beach have shot up since then. It returned to the market at a lower price, $25.9 million, when the pandemic lockdown hit, but the listing was removed months later. It was re-listed in July of this year for $45 million.
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Vogele’s company paid $3.8 million for the lot in 2011, property records show. The modern-style home was designed by Touzet Studio, interior designer Linda Zarifi and landscape designer Enea Garden Design, according to the listing.
In June, Kevin Segalla, founder of the video game publisher Tilting Point, and his wife, Michelle, sold their Hibiscus Island mansion at 320 South Hibiscus Drive for $31.9 million. The Jills also brokered that deal.