Updated Jul 17, 2026
Leet House 4 LLC Purchases Waterfront Homes From Michael And Jessica Rhodes For $33M In Miami Beach
625 East Dilido Drive
$33,000,000
$3,525/SF
Building Size
9,360 SF
Asset Type
Single Family
Closing
Jul 15, 2026
About this deal
AI
A pair of neighboring waterfront homes on Miami Beach's Venetian Islands, located at 617 & 625 East Dilido Drive, sold for a combined price of $33 million. The total square footage of the properties is 9,360, with a price per square foot of $3,526. The market for this transaction was Miami Beach, FL.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $33,000,000
- Buyer: Leet House 4 LLC
- Seller: Michael Rhodes & Jessica R. Rhodes
- Broker: Mick Duchon - The Corcoran Group
- Combined frontage: 180 feet along Biscayne Bay
The deal reflected continued demand for substantial waterfront estates in Miami Beach's luxury housing market, facilitated by Mick Duchon from The Corcoran Group, who represented the transaction.
On the Map
$33,000,000
$3,525/SF
Single Family
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Miami Beach 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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93