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

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.