Surfside mansion doubles in value with $10M sale

Surfside mansion doubles in value with $10M sale

A Surfside mansion sold for $10 million, more than doubling in value in two years.

This sale is among the many that show how supercharged the luxury housing market in South Florida has been since the start of the Covid-19 pandemic. More wealthy people have moved here, driving housing prices to new records in coastal neighborhoods.

Hummingbird Enterprises LLC, managed by Victoria Tzumas in Wilmington, Delaware, sold the 5,411-square-foot home at 1413 Biscaya Drive. When the home was acquired for $4.75 million in January 2020, the borrower listed an address of 9 Cross Timber Road, Barrington, Illinois.

The buyer was 1413 Biscaya LLC, a Delaware-registered company that didn’t list a managing member.

Alex Miranda and Joe Padula of the Alex + Joe Team at Compass represented the seller in the deal, while the buyer worked with Chad Carroll, also from Compass. The price equated to $1,848 a square foot.

Built on the 0.25-acre lot along a small lake leading to the Intracoastal Waterway, the home features six bedrooms, 6.5 bedrooms, a pool, a dock, a summer kitchen and a balcony.

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