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Right now, the single-family home market in Miami is very hot. Andrew Mirmelli, a renowned investor, recently took advantage of this and purchased a gorgeous Miami Beach estate. The owner of M&M Parking Management Services purchased this property for $21 million, and listed it for $30 million just a few days later.
Located in 432 South Hibiscus Drive, this stunning Miami Beach estate measures 6,090 square feet. Besides being listed to sale, it was also listed for rent at $130,000 per month. However, Mirmelli plans to renovate the property before selling it.
This mansion is a mediterranean-style estate built in 2001. The last time it sold was in 2008 for $8 million. Besides being absolutely gorgeous, the property also features a private dock with a boat lift, an outdoor kitchen, and a pool.
Right now, the market for single-family homes is on fire. In fact, in Miami Beach and its barrier islands, single-family home sales increase by 240% (292 closings in the second quarter).
Read full article here
Interested in investing in Miami real estate?
AMG International Realty is a global real estate firm specializing in Florida. If you are you looking to buy, rent, or sell in South Florida we are here to guide you through every step of the way. From mortgage applications, to finding your dream home and closing the deal. Contact us today!
Chat with me on WhatsApp: +1 (305) 318 6968 (Heloisa Arazi).
