THE DEAL: A waterfront home with its own nightclub in Miami Beach, Fla., has sold off-market for $51.5 million. The sum is a record for the gated Hibiscus Island, according to Denis Smykalov of Wolsen Real Estate, who represented the seller.
THE SELLER: Developer Luis Bosch, founder of Luis Bosch Luxury Homes. Bosch said that when he bought the roughly half-acre property, there was an incomplete residential structure that he described as a “shell.”
In 2021, Bosch purchased the property for $19 million and spent around five years redesigning, re-permitting and building out the home. The cost of construction was around $15 million, he said…