Waterfront Mansion Purchased by Miami Beach Investor at $21 Million – Lists the Property for $30 Million

August 9, 2021

Andrew Mirmelli, the owner of M&M Parking Management services and Investor, is now betting on the hot real estate market. With the recent purchase of a waterfront home on Hibiscus Island at $21 million, Mirmelli just relisted the property for a cool $30 million just a few days after closing.

The luxury waterfront property shows the previous owner as Sweet Gift LLC, a company owned by Abelardo Monroy. The home located at 432 South Hibiscus Drive features 6,090 square feet of living space, 5 bedrooms, 7 bathrooms, and a 3 car garage.

The property was built in 2001 on just under half an acre. The design of the home showcases a Mediterranean style throughout with neutral colors easily flowing from one room to the next. Expansive windows and tall ceilings provide endless natural light and views that can only be found on Hibiscus Island. The property also includes a custom pool, outdoor kitchen, and private boat dock with a lift.

Hisbiscus Island not only features unique luxury estates, but also offers gorgeous waterfront views, 24-hour security, and a family-oriented community center/park. Boating is a prime hobby on Hibiscus Island. With a lack of fixed bridges, boats of many sizes gain access to private boat docks throughout the island. This island is also close to South Beach and downtown Miami, making it a prime location to enjoy all that Miami offers.

This luxurious estate was previously sold in 2013 at $8 million. The owner has also listed it for rent at $130,000 monthly. Mirmelli recently sold a lot in downtown Miami to developer Moishe Mana. Mana paid $12.4 million for the lot which he plans to build a mixed-use development for offices, residences, and hotels.