Updated Dec 4, 2024
Tilting Point Founder Sells Hibiscus Island Mansion In Miami Beach For $32.5M
320 South Hibiscus Drive
$32,500,000
$4,157/SF
Building Size
7,818 SF
Asset Type
Single Family
Closing
Jun 21, 2024
About this deal
AI
The property at 320 South Hibiscus Drive in Miami Beach, a Single Family home sitting on 0.36 acres, was sold for $32.5 million. The sellers, Michelle Segalla and Kevin Segalla of Tilting Point, finalized the sale to an undisclosed buyer under Sun Hills LLC. The home spans 7,818 square feet with a price per square foot of $4,157.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $32,500,000
- Address: 320 South Hibiscus Drive
- Market: Miami Beach
- Seller: Michelle Segalla; Kevin Segalla - Tilting Point
- Brokers: Jill Hertzberg & Daniel Hertzberg - Jills Zeder Group - Coldwell Banker
- SF: 7,818
- PPSF: $4,157
Jill Hertzberg and Daniel Hertzberg, from the Jills Zeder Group under Coldwell Banker, represented the sellers in this transaction. Kevin Segalla, the founder of Tilting Point, had originally acquired the property for $29.1 million in 2022 before listing it for sale at $37.5 million. The sale reflects a successful transaction for both parties involved.
On the Map
$32,500,000
$4,157/SF
Single Family
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Players
Miami Beach Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $4.2K per square foot on a published $32.5M for 7,818 square feet (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93