Yext founder revealed as buyer of $17M Miami Beach home: sources

Spec developer Peter Fine sold the North Bay Road mansion

Miami /
Feb.February 15, 2019 05:30 PM

Howard Lerman and his North Bay Road home (Credit: Felipe Ariano)

Yext founder and CEO Howard Lerman is the buyer of a Miami Beach spec mansion that recently sold for $17 million, The Real Deal has learned.

Lerman, head of the New York City technology firm, acquired the 10,665-square-foot estate at 6010 North Bay Road from luxury homebuilder Peter Fine’s To Better Days Development, according to sources.

Records show The WonderLion Land Trust, managed by attorney Alexander Sundstrom, paid $17 million for the house. Lerman and Brian Distelburger, co-founder and president of Yext, control WonderWings LLC, a limited liability company they created in late January that lists the same North Bay Road address.

Listing broker Nelson Gonzalez of EWM Realty International declined to comment on the buyer. Richard Steinberg and Payton Smith of Douglas Elliman represented the buyer. Steinberg and Smith declined to comment.

Yext, an online brand management company, offers a network of apps, maps, search engines and other services. Clients using its Yext Knowledge Engine include Taco Bell, Rite Aid, and Steward Health Care, according to Yext’s website.

Fine completed the Miami Beach home in January 2018 and had it listed for $18.95 million. It sits on a 21,228-square-foot lot with 85 feet of waterfront. The property has six bedrooms, seven bathrooms, indoor/outdoor living areas, a custom Italian kitchen and a summer kitchen, an orchid garden, home theater, waterfront office and a gym, according to a release.

The Yext founder isn’t the only tech buyer to close on a Miami Beach mansion recently. In 2017, venture capitalist Jim Goetz paid $22 million for a waterfront home on the Venetian Islands. Goetz is known for his $60 million investment in WhatsApp, which became valued at more than $3 billion worth of Facebook stock after the popular mobile messaging app sold to Facebook in 2014.


Related Articles

arrow_forward_ios
Marcelo Claure’s property at 5212 North Bay Road (Photo courtesy of Legendary Productions)
Dirt turns to gold dust dreams: Inside Miami’s waterfront boom
Dirt turns to gold dust dreams: Inside Miami’s waterfront boom
5760 North Bay Road in Miami Beach (Google Maps)
Hedge funder sells waterfront North Bay Road mansion for $36M
Hedge funder sells waterfront North Bay Road mansion for $36M
David and Danielle Deshe and the home on North Bay Road in Miami Beach (Daniel Petroni, David and Danielle Deshe)
Vero Water co-founder sells non-waterfront Miami Beach home for $8M
Vero Water co-founder sells non-waterfront Miami Beach home for $8M
Ilya Karpov with 3026 North Bay Road
Russian mogul Ilya Karpov buys waterfront North Bay Road home for $14M
Russian mogul Ilya Karpov buys waterfront North Bay Road home for $14M
From left: Sotheby’s Daniel de la Vega and Reagan Jefferies with Brevard County
One Sotheby’s picks up Brevard County brokerage
One Sotheby’s picks up Brevard County brokerage
10181 US Highway 98 West and 39 Sandy Dunes Circle (LoopNet)
Florida Panhandle estate sold for $25M
Florida Panhandle estate sold for $25M
Netscape co-founder Jim Clark and 2000 South Ocean Boulevard in Manalapan (Getty, Sotheby's)
Manalapan compound poised to sell for Florida-record $175M
Manalapan compound poised to sell for Florida-record $175M
Todd Michael Glaser and Tim Hardaway Jr. with 6015 North Bay Road (Getty, iStock, Illustration by Shea Monahan for the Real Deal)
Tim Hardaway Jr. buys non-waterfront spec home in Miami Beach
Tim Hardaway Jr. buys non-waterfront spec home in Miami Beach
arrow_forward_ios

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

Loading...