Il Mulino restaurateur Steven Raia flips $12.5M Miami mansion in a day

Il Mulino's Steven Raia flips $12.5M Miami mansion in a day

It really is hot in Miami — especially when it comes to real estate.

It only took one day to sell Il Mulino partner Steven Raia’s waterfront estate on man-made Hibiscus Island for its full $12.5 million asking price, according to sources and public records.

Raia bought the contemporary home for $3.59 million in 2014.

It sold after receiving “multiple offers in the first 24 hours” following its first showing, a source told Gimme.

The buyer is Don Dady Living Trust, with Don Dady of Paradise Valley, Arizona, as trustee.

The pricey palace at 421 N Hibiscus was listed by ONE Sotheby’s International Realty’s Jeff Miller, who declined comment.

By Jennifer Gould for
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