The Real Deal Miami

Miami Beach philanthropists buy next door neighbor’s North Bay Road waterfront home for $11.3M

The couple bought MLB player Alex Rodriguez's home for a record $30M in 2013

4350 and 4358 North Bay Road Inset: Stephen and Petra Levin (Credit: University of Pennsylvania)

A Miami Beach couple just dropped $11.34 million for their second waterfront home on North Bay Road, property records show.

Stephen and Petra Levin scooped up their next door neighbor’s 5,297-square-foot home at 4350 North Bay Road for about $2,140 per square foot. Stephen Levin owns 80 percent of the house and Petra Levin owns 20 percent.

Stephen Levin founded Gold Coast Beverage Distributors, one of South Florida’s largest beverage wholesalers. In 2014 the beverage tycoon reportedly sold the company for more than $1 billion. In 2015 the couple donated $5 million toward MorseLife Health System’s 182-unit Stephen and Petra Levin Tower for retirees in West Palm Beach.

They bought Major League Baseball player Alex Rodriguez’s home at 4358 North Bay Road for a record $30 million in 2013. Since then, the couple has decorated the 21,179-square-foot mansion with their art and sculpture collection, according to published reports. They dock their 70-foot yacht on their bayfront. In 2015 the couple also spent $1.8 million for a home across the street that they have since torn down.

Records show the Levins bought their new waterfront home from Irwin and Nora Friedman of Livingston, New Jersey. The Friedmans bought the home in 2002 for an undisclosed price from former Miami Beach nightclub owner Shawn Lewis, after Lewis settled a criminal case. Irwin Friedman founded the industrial plastic company Delta Plastics Corp., which he sold in 1999.

The home, built in 1996, sits on an 18,180-square-foot lot, records show. The six-bedroom, six-and-a-half bathroom home features a pool and a dock.

North Bay Road homes have been selling in recent weeks. Earlier this month Olivier Farrat, owner of the popular La Sandwicherie, sold his Miami Beach waterfront home at 2018 North Bay Road to Burger King executive Eric Hirschhorn for $5.5 million.