The Real Deal Miami

“Baby on Board” mogul lists new Miami Beach home for $30M

Owner sold his company in 2000 in a deal reportedly worth about $195M

December 01, 2016 02:15PM

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4609 Pine Tree Drive. Inset: Listing agents Eloy Carmenate and Mick Duchon

4609 Pine Tree Drive. Inset: Listing agents Eloy Carmenate and Mick Duchon

The marketer and child-proofing product maker who popularized the yellow “Baby on Board” signs wants to sell his newly completed Miami Beach mansion for $29.5 million.

Michael Lerner spent about three years building the 12,600-square-foot house at 4609 Pine Tree Drive and recently moved in, but is relocating to Palm Beach, according to the Wall Street Journal. Eloy Carmenate and Mick Duchon of Douglas Elliman are listing the estate, which overlooks the Indian Creek waterway.

Lerner sold his company, Safety 1st, to Canadian company Dorel Industries in 2000 in a deal reportedly worth about $195 million.

His nearly 1-acre property includes a five-bedroom main house with an elevator and safe room, a four-bedroom guest house, a gazebo with a kitchen and fireplace, and an 80-foot-long swimming pool. It also has 105 feet of waterfront and a private dock, according to the Journal. Property records show Lerner paid $4.95 million for the site in 2013, which breaks down to about $115 per square foot for the land.

The asking price for Lerner’s new home is $2,341 per square foot.

Earlier this year, a British family paid $19 million, or $1,508 per foot, for the 12,600-square-foot waterfront estate at 6385 Pine Tree Drive Circle, on a similarly sized 1.1-acre double lot with 175 feet of water frontage overlooking Indian Creek. That home was built in 1937. [WSJ] – Katherine Kallergis

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