Add The New York Post on Google A 41-year-old Georgian Bitcoin investor and financier whose life reads like a John Le Carré spy novel has sold his just-built Miami mansion on guard-gated Hibiscus Island for $51.5 million.
The sale is a record for Hibiscus and Palm islands, surpassing a 2024 sale, when “mysterious Miami party boy” Daniel Liburdi paid $40.25 million for 101 North Hibiscus Drive.
Before listing this property, Giorgi “George” Bachiashvili fled Tbilisi, Georgia shortly before he was sentenced in absentia to 11 years in prison on March 10, 2025, for allegedly embezzling cryptocurrency from his former boss — Georgia’s most powerful man, Bidzina Ivanishvili, the former prime minister. Bachiashvili denied the charges and called them politically motivated.
Bachiashvili was then allegedly abducted from Abu Dhabi on May 24, 2025, and brought back to Georgia, where he was imprisoned by his ex-boss. His sentence was suspended following a plea deal, and he was released from prison after less than a year, in February.
Bachiashvili’s whereabouts remain secret, his lawyer, Peter J. Sahlas, of Amsterdam & Partners, told Gimme Shelter.
In mid-August, around six months after his release from prison, Bachiashvili listed this Miami home for $55 million. It sold 11 days later to a mystery buyer for $51.5 million.
The modern mansion at 270 South Hibiscus Drive comes with five bedrooms, a maid’s quarters, six full baths, two half baths, a home office, a gym and 120 feet of water frontage. Inside, there’s also a large foyer, a double-height great room and a chef’s kitchen.
Bachiashvili bought the property for $19 million in 2021, according to records. At the time, it was “an incomplete shell of a home still under construction,” a source said. He later hired South African firm SAOTA to design the property.
Extravagant features include a soundproof home theater with a bar. There’s also a pool and two private docks — as the home sits on two bayfront lots — that can hold at least one 105-foot-long yacht.
The listing broker was Jordan Karp of Jordan Karp LLC; the buyer’s broker was Dora Puig of Luxe Living Realty.
