Venture capitalist sells Miami Beach mansion for $15.6M

Venture capitalist sells Miami Beach mansion for $15.6M

A trust in the name of Don Dady , a financial and venture capital executive from Arizona, sold a Miami Beach mansion for $15.6 million after about 14 months of ownership.

The 4,170-square-foot home at 421 N. Hibiscus Drive was purchased by Hibiscus 421 LLC, managed by Palm Beach Gardens-based attorney Andrew R. Comiter . Goldman Sachs Bank USA provided a $9.36 million mortgage to the buyer, with the loan for a second home.

Tara Baptiste of Brown Harris Stevens represented the seller in the deal, while Julian Johnston of the Corcoran Group worked with the buyer. The price equated to $3,741 a square foot.

Dady purchased the home for $12.5 million in March 2021. That’s a reflection of the strong demand for waterfront homes in Miami Beach as there are few listings on the market.

Located on Hibiscus Island, the home was built on the 9,187-square-foot lot along Biscayne Bay in 2017. It features five bedrooms, 5.5 bathrooms, an office, smart home technology, a pool, a waterfall, and a dock.

Dady is the co-founder of Annexus, a retirement savings provider, and Annexus Ventures, a venture capital firm that focuses on insurance technology, financial technology and software startups.

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