$12.5 Million Miami Beach Mansion Sells In One Day: Report

MIAMI BEACH, FL — A Miami Beach mansion on Hibiscus Island sold for $12.5 million after just one day on the market, the New York Post reported.

Restaurant owner Steven Raia, partner at the Il Mulino New York Trattoria, sold the waterfront estate to Don Dady Living Trust through an LLC he manages, S&C 421 Hibiscus LLC, reports said.

Don Dady Living Trust is controlled by Don Dady, an Arizona executive who co-founded the Scottsdale-based companies Annexus, a retirement savings company, and Annexus Ventures, a venture capital firm.

Within 24 hours of being listed, more than 10 prospective buyers saw the home, the South Florida Business Journal reported.

Jeff Miller with One Sotheby’s International Realty represented the seller in the deal, while the buyer worked with Tara Baptiste of Brown Harris Stevens Miami, reports said.

The estate was built in 2017 and designed by Choeff Levy Fischman, an architect who has won several awards for his residential and commercial designs, according to Realtor.com.

The 4,395-square-foot home boasts five bedrooms, five-and-a-half baths and office space, as well as expansive waterfront views. Sitting on a 9,187-square-foot lot, the home also offers a resort-style backyard with 80 feet of water frontage, smart home technology, floor-to-ceiling windows, oak wood floors, a custom-designed Italian kitchen and a two-car garage, Realtor.com said.