The president and CEO of an Ohio-based mortgage company spent $ 11.8 million on a waterfront home on Hibiscus Island.
Records show that Ronald J. Leonhardt, the president and CEO of CrossCountry Mortgage, based in Brecksville, Ohio, bought the house at 225 North Hibiscus Drive in Miami Beach from Warwick Mobile Home Park LLC, a Virginia company. John A. Franklin signed the deed on behalf of the seller.
In April 2020, Warwick Mobile Home Park LLC bought the Miami Beach home for $ 9.3 million.
According to Realtor.com, Chad Carroll from The Carroll Group represented Leonhardt and Julian Johnston represented the seller at Compass.
According to Johnston, the sellers were planning to demolish the existing home. Leonhardt made an unsolicited offer and the sellers accepted, Johnston said, adding that the house had been vacant for a year. Waterfront home sales across Miami Beach have increased in recent months due to increased demand during the pandemic.
The house was built in 1934 and has eight bedrooms and five bathrooms. It sits on 26,250 square feet of land with 150 feet of linear water frontage.
A waterfront mansion on Hibiscus Island sold for $ 7.8 million in October, and a company affiliated with Orion Real Estate Group paid $ 6.3 million for a waterfront home in September.