Christopher Burch sells Pine Tree Drive lot at a loss

Company tied to J. Christopher Burch sold the property for 11% less than what he paid in 2017

Miami /
Aug.August 14, 2019 02:30 PM
5111 Pine Tree Drive and J. Christopher Burch (Credit: Wikipedia and Google Maps)

5111 Pine Tree Drive and J. Christopher Burch (Credit: Wikipedia and Google Maps)

Fashion executive and investor J. Christopher Burch – ex-husband to designer Tory Burch – sold a waterfront property in Miami Beach for $10.7 million, property records show.

The sale of 5111 Pine Tree Drive marks a nearly 11 percent loss for Burch, whose JCB Miami LLC paid $12 million for in 2017. At the time, the property included a nine-bedroom, 8,551-square-foot mansion, built in 1929.

Burch, head of Burch Creative Capital and one of developer Alan Faena’s investors, knocked down the house. The property is now a vacant lot. He purchased the 1.6-acre property, with 170 feet of frontage along Indian Creek, from developer Richard Meruelo and his wife Maria. The Meruelos own the house next door.

Burch’s JCB Miami LLC is in the care of his Burch Creative Capital. The New York-based firm invests in apparel and accessories, snack foods and more. It sold the
property to a trust managed by Mohamad Mabrok. It’s unclear who the buyer is and the property was not listed on the MLS.

A few properties have traded hands along Pine Tree Drive over the past year. Jamie LeFrak, vice chairman and managing director of LeFrak, went under contract to buy a mansion at 4567 Pine Tree Drive in February, and closed on the property for $19.6 million in April.

Last year in September, a 2-acre estate built by the city’s founding Collins family, at 5011 Pine Tree Drive, sold for $14.5 million – more than 40 percent off its original $25 million price tag.


Related Articles

arrow_forward_ios
(Photo Illustration by The Real Deal with Getty Images)
Want more South Florida land? Buy out your neighbors
Want more South Florida land? Buy out your neighbors
Frank Pellegrino Jr. with Loews Miami Beach and Loews Hotel owner Jonathan Tisch (Rao's, Google Maps, Getty)
Iconic NYC eatery Rao’s to open at Loews Miami Beach
Iconic NYC eatery Rao’s to open at Loews Miami Beach
17141 Collins Ave, Sunny Isle
Muse Residences in Sunny Isles Beach tops weekly condo sales
Muse Residences in Sunny Isles Beach tops weekly condo sales
A photo illustration of 12203 Tillinghast Circle in Palm Beach Gardens (top) and 6300 North Bay Road in Miami Beach (Getty Images, Old Palm Golf Club, Coldwell Banker)
Flipping crazy: South Florida’s top resi flips of the year so far, ranked
Flipping crazy: South Florida’s top resi flips of the year so far, ranked
Don Peebles, in partnership with former Miami Beach Mayor Philip Levine and developer Scott Robins, wants to build a six-story office and apartment building on a city-owned parking lot (Rendering courtesy of 1664 Meridian Ave General Partner LLC)
Miami vs NYC: A developer’s guide
Miami vs NYC: A developer’s guide
From left: Monroe Capital’s Theodore Koenig, Steve Witkoff, HFZ's Ziel Feldman and Benny Shabtai with the Shore Club (Monroe, Witkoff, HFZ, Getty)
Judge awards $5M to Israeli mogul in HFZ lawsuit over failed Shore Club project in Miami Beach
Judge awards $5M to Israeli mogul in HFZ lawsuit over failed Shore Club project in Miami Beach
Prive at 5000 Island Estates Drive in Aventura (Condo.com, getty)
Privé in Aventura closing tops Miami-Dade’s weekly condo sales
Privé in Aventura closing tops Miami-Dade’s weekly condo sales
Carillon Miami Wellness Resort at 6801 Collins Avenue in Miami Beach (Google Maps, Getty)
Z Capital loses attempt to slap Miami Beach condo owners with $8M assessment
Z Capital loses attempt to slap Miami Beach condo owners with $8M assessment
arrow_forward_ios

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

Loading...