Former hedge funder sells waterfront North Bay Road mansion for $20M

Buyer is linked to Chicago-based Paragon Biosciences

2204 North Bay Road (Felipe Ariano, Google Maps)
2204 North Bay Road (Felipe Ariano, Google Maps)

UPDATED, Jan. 27, 11:30 a.m.: Former hedge fund manager Jim Pulaski sold a waterfront mansion in Miami Beach for $20 million.

Property records show Pulaski, who previously worked at Tudor Investment Corp., sold the home at 2204 North Bay Road to the LKA Revocable Trust, led by trustee Matthew Gaines. The deed was recorded for $17.7 million, but the property sold for $20 million, a price that includes fixtures, furnishings and commissions.

Gaines is vice president of strategic capital at Paragon Biosciences, a Chicago-based life science incubator founded by Jeff Aronin. State records show Aronin incorporated in Florida in November, and lists a Continuum South Beach condo address for himself.

Pulanski was a commodity trading portfolio manager. He left the firm in 2016.

MV Group USA, led by builder Manny Varas, renovated the six-bedroom, 8,500-square-foot lower North Bay Road home, which was built in 2009. It hit the market for $24.5 million in December 2019. The estate features a two-bedroom guest house, three-car garage, a large dock and 100 feet of water frontage.

Nelson Gonzalez of Berkshire Hathaway HomeServices EWM Realty was the listing agent, and Stacy Robins of Stacy Robins Companies represented the buyer, according to Gonzalez declined to comment. Robins could not be reached for comment.

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The home sits on a 20,000-square-foot lot and includes a glass roof, game room, chef’s kitchen, wine cellar, and a pool deck.

Sales of ultra high-end homes along North Bay Road and other parts of Miami Beach have been surging in recent months.

Last week, retired Miami Heat basketball star Chris Bosh sold his waterfront Miami Beach estate on North Bay Road for more than $15 million. Spec home developer Peter Fine also sold a nearby mansion to billionaire hedge fund manager Dan Loeb for $20 million.

In late December, Cindy Crawford and Rande Gerber paid nearly $10 million for a waterfront teardown on North Bay Road.

Correction: An earlier version of this story inaccurately described Jim Pulanski’s role at Tudor Investment Corp.