A trust linked to Wade Davis, the former CEO of Univision, sold a waterfront Hibiscus Island mansion in Miami Beach for $31.8 million, The Real Deal has learned.
The home at 370 South Hibiscus Drive sold eight months after it hit the market for $37.5 million, listing agent Liz Hogan of Compass confirmed. Mick Duchon with the Corcoran Group brought the buyer. The deed has yet to record, and the buyer is unknown. Hogan and Duchon declined to comment on the identities of the buyer and seller.
Records show the selling entity is a trust in the name of Ruddmann Clarke Davis. A person with the name Rudd Davis is founder and CEO of AI company Wurthy in San Francisco, according to published reports. Mortgage documents identify the borrower as Wade Cullen Davis, who was CEO of Univision from 2020 to 2024.
In 2020, he led a group of investors to merge Univision and Mexico’s Grupo Televisa. He led the company until ex-Activision Blizzard president and COO, Daniel Alegre, replaced him last year, Deadline reported. Davis is now vice chairman of the board, according to LinkedIn.
He bought the Hibiscus Island house for $26.5 million in 2021, according to property records. It was built in 2016 on half an acre, records show. The mansion spans 10,800 square feet, with four bedrooms, four bathrooms, one half-bathroom, a pool and a dock. The property also has 122 feet of waterfront, according to the listing.
Davis listed it for $37.5 million in November, shortly after leaving his CEO role with Univision, which is headquartered in Miami.
The sale marks the second most expensive deal on Hibiscus Island and Palm Island this year. Hogan said one of the islands’ draw is the police-manned guard houses that monitor who comes and goes.
In March, gaming mogul Richard Skelhorn bought a waterfront Palm Island mansion for a record $45 million. In August, a Hibiscus Island mansion sold for $40.3 million to an unknown buyer. Also last year, Kevin Segalla, the founder of video game publisher Tilting Point, sold his Hibiscus mansion for $31.9 million.
Hogan says a wave of construction on the island has brought newly built homes that luxury buyers are looking for.
“It’s definitely a sort of transitioning neighborhood,” she said. “Everybody wants new product. They don’t want to have to do any work.”
