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

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

Russell Galbut and Mondrian South Beach condo-hotel

Galbut sells 50% stake in Mondrian South Beach

120 West Rivo Alto Drive, Julian Johnston and Silke Dietrich

Beauty moguls buy Venetian Islands spec home for $12M

David Martin, Russell Galbut, and a 500 Alton rendering (Credit: The Next Miami)

Miami Beach sues own board to overturn decision on Crescent Heights’ and Terra’s proposed condo tower

55 Palm Avenue (Credit: Realtor and iStock)

Metals executive mines Miami Beach home

2021-2035 Meridian Avenue, Rani Hussami and Colin Rockson

AquaBlue Group owner lists South Beach apartments for $14M

Moishe Mana and a rendering of 420 South Hibiscus Drive (Credit: Getty Images and iStock)

Moishe Mana sells Hibiscus Island home for $12M

100 La Gorce Drive, Carolyn Aronson and Jeff Aronson

Cash4Gold founder drops $20M on Miami Beach estate

Len Blavatnik, 3425 Collins Avenue and Vlad Doronin (Credit: Google Maps, Getty, Wikipedia Commons)

Len Blavatnik teams with Vlad Doronin on Aman-branded towers in Faena District