The Real Deal Miami

Former MTV CEO puts North Bay Road lot back on the market for $16M

Bill Roedy's property is on the market for nearly $700 psf
By Katherine Kallergis | April 26, 2017 05:30PM

4462 North Bay Road. Inset: Bill Roedy (Credit: Getty Images)

Miami native Bill Roedy originally planned to build his dream house on North Bay Road, a ritzy street that’s home to celebrities like Phil Collins and Chris Bosh.

Roedy, the former chairman and CEO of MTV International, is instead trying to sell the more than half-acre waterfront lot at 4462 North Bay Road, asking $15.9 million, he told The Real Deal.

It’s not the first time he’s listing the property. It first hit the market in 2015 for $25 million, and later in 2016 for $17.5 million with Douglas Elliman. Now, it’s about to hit the market with Ralph Arias of One Sotheby’s International Realty.

View from 4462 North Bay Road

Roedy, who owns a condo with his wife in Miami Beach, said his job kept him and his family in London. “This lot was our favorite with the best view,” Roedy said. “The intent always was to make this our dream house. What changed is my job still necessitated we stay in London.”

Property records show Roedy paid $4.42 million for the 22,700-square-foot lot in 2010. He retired from his position at MTV in 2011, and has become active in global health initiatives since then. Roedy said he isn’t anxious to sell the Miami Beach lot, but that he’s set on selling the property, which is the least expensive waterfront lot available for sale on North Bay Road.

Few waterfront lots are listed for sale on North Bay Road, according to Realtor.com. At 5860 North Bay Road, the 33,000-square-foot lot is on the market for $17.9 million, or $542 per square foot. A nonwaterfront property at 6015 North Bay Road is asking $1.75 million, or $187 per square foot.

Roedy’s parcel is on the market for nearly $700 per square foot. A dock is grandfathered into the property, he said.

At one point, the lot was home to the North Bay Road Castle. Captain Michael Burke, the founder of Windjammer Barefoot Cruises, built the home with moats, sharks and other castle features, but it eventually burned down years after it had been abandoned.

It’s next to J. Crew chairman and CEO Millard Drexler’s home, which Drexler picked up in February for $12.85 million. Calvin Klein sold that property.

“This is the fillet of bayfront Miami Beach that captures the view: dead center downtown Miami perfectly framed,” Arias said.