Updated Jun 4, 2026
Empresas FPY Purchases Waterfront Home From David And Nina Mandel For $15.5M In Miami Beach
821 East Dilido Drive
$15,500,000
$3,506/SF
Building Size
4,420 SF
Asset Type
Single Family
Closing
May 26, 2026
About this deal
AI
The property asset involved in this transaction is a single-family home located at 821 East Dilido Drive, Miami Beach, FL. The waterfront home spans 4,420 square feet and was sold for $15,500,000, resulting in a price per square foot (PPSF) of $3,507. Built in 1940, the property was purchased by the seller in 2003 for $1.86 million and is now slated for demolition and redevelopment into a new mansion, reflecting the ongoing demand for premium bayfront properties in Miami Beach.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $15,500,000
- Address: 821 East Dilido Drive
- Market: Miami Beach, FL
- Square Footage: 4,420
- Price per Square Foot: $3,507
- Buyer: Francisco Perez - Empresas FPY
- Seller: David Mandel & Nina Mandel
- Brokers: Danny Hertzberg & Jill Hertzberg - Coldwell Banker
In this transaction, the buyer, Francisco Perez, represents Empresas FPY, a luxury builder, indicating an intention for redevelopment of the site. The sellers, David and Nina Mandel, are attorneys who previously acquired the property for a significantly lower price in 2003, emphasizing the appreciation in property value over time and the strategic moves by developers in the Miami Beach market.
On the Map
$15,500,000
$3,506/SF
Single Family
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Ladd Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $3.5K per square foot on a published $15.5M for 4,420 square feet (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93