Beverage tycoon Stephen Levin and his wife Petra sold a waterfront lot next to their Miami Beach mansion for $8.5 million, marking a loss from its former sale three years ago.
The buyer is also in the drinks world. David Deshe, co-founder and president of Vero Water, purchased the property at 4350 North Bay Road, records show. Jill Hertzberg of the Jills Zeder Group at Coldwell Banker represented the buyer and seller, according to Realtor.com.
The 18,180-square-foot lot sold for $468 per square foot.
Deshe co-founded Vero Water, a provider of still and sparkling water to restaurants and hotels, in 2011. Deshe is part of the family that owns a major retail portfolio, which has included American Eagle Outfitters, DSW and American Signature Furniture, according to his LinkedIn. Records show he owns a non-waterfront home at 5327 North Bay Road.
Stephen Levin founded Gold Coast Beverage Distributors, one of South Florida’s largest beverage wholesalers, and sold it in 2014 for more than $1 billion. The Levins are also philanthropists, donating millions of dollars in South Florida.
They bought Major League Baseball player Alex Rodriguez’s home at 4358 North Bay Road for a record $30 million in 2013. They purchased the property that just sold next door for $11.3 million in 2017. Records show the Levins knocked the house down and it’s now an empty lot.
In September, Petra Levin, the former Miss Germany, bought a condo at the Ritz-Carlton Residences, Miami Beach for $4.8 million.
North Bay Road has seen some high-priced waterfront sales in recent months. In May, the house at 4330 North Bay Road sold for $9.8 million. In March, the house at 5242 North Bay Road sold for $7 million. And in February, fashion executive and investor J. Christopher Burch paid $14 million for the mansion at 5050 North Bay Road.