Heinz Brasil exec sells waterfront North Bay Road home to Christopher Burch

It sold at a loss from $18M sale price in 2014

Miami /
Feb.February 20, 2020 09:45 AM
Chad Carroll, Mariana Trentini, and Fabio Lopes, and Christopher Burch with 5050 North Bay Road

Chad Carroll, Mariana Trentini, and Fabio Lopes, and Christopher Burch with 5050 North Bay Road

UPDATED, Feb. 20, 11:35 a.m.: The founder of a Brazilian food company sold his waterfront mansion on North Bay Road to fashion executive and investor J. Christopher Burch.

Property records show SPN Florida LLC, led by Salvador Paoletti Neto, sold the 10-bedroom, 7,746-square-foot house at 5050 North Bay Road for $14.2 million, a loss from the previous sale about six years ago.

Burch is founder and CEO of Burch Creative Capital, co-founder of Tory Burch LLC and ex-husband to Tory Burch. His New York-based firm invests in apparel and accessories, snack foods and more.

The North Bay Road property is not the first Miami Beach home for the fashion mogul. In August, he sold the waterfront home at 5111 Pine Tree Drive for $10.7 million.  Fabio Lopes of Coldwell Banker, who represented Burch in his latest purchase, said that Burch plans to make minor improvements to the property and live in it. Burch “loved the bones of the house,” Lopes said.

Paoletti Neto, the seller, founded Quero Alimentos, which he later sold to Heinz Brasil, and is vice president of Heinz Brasil’s board of directors, according to published reports. In 2011, Heinz purchased an 80 percent interest in Quero Alimentos, which makes tomato sauces, condiments, spices and more.

The North Bay Road property includes a three-car garage, a guest house, summer kitchen, pool and oversized dock, according to the listing. It also has 10 bedrooms, 11 bathrooms and two half-bathrooms. The house was on the market with Chad Carroll and Mariana Trentini of Douglas Elliman.

The house, which sits on a 32,085-square-foot lot, hit the market in 2015 for $33 million, and was later relisted, most recently for $16.5 million.

5050 North Bay Road

Records show the property last sold in 2014 for nearly $18 million.

Last year, retired Miami Heat player Dwyane Wade listed his home nearby at 5980 North Bay Road for $32.5 million.

In January, a waterfront lot at 4424 North Bay Road sold to Jennifer Taplin Sazant and Neil Sazant for $7 million.

In August, a California buyer purchased the waterfront spec mansion at 6360 North Bay Road for $23.85 million and a lot next door at 6342 North Bay Road for $11.55 million. The combined price marked a record for the year in Miami Beach.


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...