facebook
Traded Co logo
Submit
Daily limit: 0/10

Cypress Marino LLC Purchases Waterfront Home From Richard Matthews For $28.5 Million In Miami Beach

Property Image
SOLD
$28,500,000

Florida

See Similar Deals
Single Family2,922 SF
Sold 04/01/2026
the dealplayerscompscontact
Property Image
SOLD

Cypress Marino LLC Purchases Waterfront Home From Richard Matthews For $28.5 Million In Miami Beach

29 East San Marino Drive

See Similar Deals
Single Family2,922 SF
Sold 04/01/2026
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$9,753
Total Square Footage:2,922 SF
Transaction Type:Sale

A waterfront single-family home located at 29 East San Marino Drive in Miami Beach has been sold for $28.5 million. The property measures 2,922 square feet and was sold for approximately $9,754 per square foot. It is situated on a 12,906-square-foot lot featuring 105 feet of water frontage. The home, built in 1935, last traded for $6.75 million in 2015.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $28,500,000
  • Address: 29 East San Marino Drive
  • Market: Miami Beach
  • Square Footage: 2,922
  • Price Per Square Foot: $9,754
  • Buyer: Cypress Marino LLC
  • Seller: Richard Matthews - 29 ESM Inc.
  • Brokers: Dora Puig - Luxe Living Realty

Dora Puig of Luxe Living Realty represented the seller, Richard Matthews, in the transaction. The sale signifies continued interest in Miami Beach waterfront properties, particularly those designated as teardown opportunities.

Players

Dora Puig
Luxe Living Realty
Dora Puig
86 deals$1.4B volume(305) 613-2118
BROKER
Dora Puig
Luxe Living Realty
Dora Puig
86 deals$1.4B volume(305) 613-2118
BROKER

Details

SOLD
IMAGE: Dora Puig DATE: 04/01/2026 ADDRESS: 29 East San Marino Drive MARKET: Miami Beach ASSET TYPE: Single Family BUYER: Cypress Marino LLC SELLER: Richard Matthews - 29 ESM Inc. BROKERS: Dora Puig (@DoraPuig) - Luxe Living Realty (@LuxeLivingMiami) SALE PRICE: $28,500,000 SF: 2,922 ~ PPSF: $9,754 NOTE: 29 ESM Inc., managed by Richard Matthews, sold a 2,922-square-foot waterfront home at 29 E. San Marino Drive on Miami Beach’s Venetian Islands to Cypress Marino LLC for $28.5 million, or $9,754 per square foot, with Dora Puig of Luxe Living Realty representing the seller. The 1935-built property, situated on a 12,906-square-foot lot with 105 feet of water frontage, last traded for $6.75 million in 2015, underscoring strong demand for Miami Beach waterfront teardown opportunities.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,519,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$101,254.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$135,104.54
Annual Debt Service$1,621,254.48