Florida Beach Mansion Sets Island Record with $39 Million Sale

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A luxury waterfront mansion in Miami Beach has sold for $39 million, setting a new record for Hibiscus Island. The property, located at 101 North Hibiscus Drive, was sold by V.I. Hibiscus 4445 LLC, managed by architecture expert Paul Vogele, to 101 N Hibiscus LLC, a Wyoming-registered company. The true identity of the buyer remains undisclosed.

The sale was brokered by Jill Hertzberg and Danny Hertzberg of the Jills Zeder Group at Coldwell Banker, who represented the seller, while Isaac Malagon of Compass worked with the buyer. The transaction price equates to $3,618 per square foot, a record-breaking amount for the island.

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Mansion Details

The 10,780-square-foot mansion was completed in 2016 on a 21,000-square-foot lot and was inspired by the design of the Hôtel Particulier in France. Touzet Studio, a renowned architectural firm, was responsible for the home’s design, which seamlessly blends 18th-century French chateau architecture with modern tropical elements, giving it a distinctive Miami Beach flair.

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The mansion boasts seven bedrooms, eight bathrooms, and two half-bathrooms, along with several luxury amenities, including:

• A Subzero walk-in wine cellar
• A gym with a massage room and steam room
• An outdoor yoga terrace
• A dock capable of accommodating a 100-foot boat
• A heated pool and fire pit
• A summer kitchen and rooftop garden

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Record-Breaking Sale

The $39 million price tag surpasses the previous record for Hibiscus Island, which was set in June 2023 when a property sold for $31.86 million, also brokered by the Jills Zeder Group. The sale highlights the ongoing surge in luxury home values in Miami Beach, driven by an influx of wealthy buyers relocating to the area.

As Miami continues to attract high-net-worth individuals, real estate on exclusive islands like Hibiscus is becoming increasingly sought after, resulting in soaring property values and record-breaking transactions.