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821 East Dilido Drive

Empresas FPY Purchases Waterfront Home From David And Nina Mandel For $15.5M In Miami Beach
SOLDSingle Family

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

Jill Hertzberg

Coldwell Banker

Broker

$2.4B

vol

91 deals

Broker

Francisco Perez

Buyer

$123.6M

vol

6 deals

Buyer

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