Billionaire hedge funder Dan Loeb buys waterfront Miami Beach estate: sources

Spec home developer Peter Fine built and sold the mansion

Miami /
Jan.January 18, 2021 03:30 PM
Billionaire hedge fund manager Dan Loeb and renderings of 6440 North Bay. (Third Point, To Better Days Development)

Billionaire hedge fund manager Dan Loeb and renderings of 6440 North Bay. (Third Point, To Better Days Development)

 

Spec home developer Peter Fine sold a Miami Beach mansion to billionaire hedge fund manager Dan Loeb for $20 million, The Real Deal has learned.

Fine’s 6440 NBR LLC sold the six-bedroom, 13,386-square-foot home at 6440 North Bay Road to a Delaware entity named after the address. Sources confirmed the buyer is Loeb, founder and CEO of Third Point, a New York-based hedge fund.

Loeb is worth about $3 billion, according to Forbes. He founded Third Point LLC, a New York-based activist hedge fund in 1995, and is CEO of the company. Loeb is also developer Shahab Karmely’s silent backer, TRD reported in 2017.

Coldwell Banker’s The Jills Zeder Group brokered the deal. Jill Hertzberg represented the seller, and Danny Hertzberg, who declined to comment on the sale, represented the buyer.

Fine launched his spec home development firm, To Better Days Development, in 2015, with plans to build ultra-luxury spec mansions in Miami Beach.

Property records show Fine’s company paid $6.6 million for the 0.6-acre lot in 2013. The home hit the market in 2015, before it was completed, for $29 million. Choeff Levy Fischman designed the mansion.

The home features a gym, wine cellar, home theater, elevator, rooftop deck, separate entrance for the guest quarters, and a pool and dock, according to the listing. It had been on and off the market since 2015, most recently asking $23.5 million in September. The property has 100 feet of water frontage.

Fine, a New York and Miami developer, sold 4420 North Bay Road in August for $10.8 million. He also sold the spec mansion at 6010 North Bay Road to Yext founder and CEO Howard Lerman for $17 million in February 2019.

Fine and Loeb did not immediately respond to requests for comment.

Sales have surged in waterfront neighborhoods in Miami Beach, including North Bay Road, the Venetian Islands and the Sunset Islands.

Danny Hertzberg said that the high-end, single-family home market has not shown signs of slowing down. “We’re still going seven days a week,” he said. “It’s extremely busy.”

Nearby at 5800 North Bay Road, Phil Collins has his waterfront mansion under contract. It’s on the market for $40 million with Jill Hertzberg.

Earlier this year, Venezuelan oil tycoon Gerardo Pantin Shortt sold his waterfront Sunset Islands mansion for $17.4 million.





    Related Articles

    arrow_forward_ios
    Inset: Jay Philip Parker, Alicia Cervera Lamadrid, Edgardo Defortuna
    Real estate developers, brokers court Art Basel Miami Beach attendees
    Real estate developers, brokers court Art Basel Miami Beach attendees
    Dave Grutman and Jeffrey Soffer
    WATCH: Jeffrey Soffer and Dave Grutman talk hospitality post-Covid and branching into Vegas
    WATCH: Jeffrey Soffer and Dave Grutman talk hospitality post-Covid and branching into Vegas
    Corcoran’s Julian Johnston, Luxe Living Realty’s Dora Puig, One Sotheby’s’ Jeff Miller, Douglas Elliman’s Dina Goldentayer and Douglas Elliman’s Oren Alexander
    WATCH: Top luxury brokers go head to head at TRD’s Miami event
    WATCH: Top luxury brokers go head to head at TRD’s Miami event
    Eighty Seven Park and Champlain Towers South (Getty)
    Lawsuit blames construction next door for Surfside collapse
    Lawsuit blames construction next door for Surfside collapse
    From left: Cavalli Tower with Hussain Sajwani of Damac and the Surfside condo collapse site (Damac, Wikimedia, Getty)
    From Dubai to Surfside: Inside Damac’s plans to redevelop the tragic site
    From Dubai to Surfside: Inside Damac’s plans to redevelop the tragic site
    Ranee Bartolacci, Nir Meir with the Sunset Islands home (Getty, Massa Construction Group)
    Wife of embattled former HFZ principal alleges Miami Beach luxe rental was filled with rats, moldy bathrooms
    Wife of embattled former HFZ principal alleges Miami Beach luxe rental was filled with rats, moldy bathrooms
    TRD’s South Florida showcase to feature top residential brokers
    TRD’s South Florida showcase to feature top residential brokers
    TRD’s South Florida showcase to feature top residential brokers
    Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
    Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
    Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...