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
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.
Players
Ladd Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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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