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

Buyer is linked to Chicago-based Paragon Biosciences

Miami /
Jan.January 26, 2021 01:30 PM
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 Realtor.com. Gonzalez declined to comment. Robins could not be reached for comment.

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.


    Related Articles

    arrow_forward_ios
     Zaha Hadid with her former Miami Beach home (Getty, Douglas Elliman)
    Zaha Hadid’s former South Beach condo hits the market for $8M
    Zaha Hadid’s former South Beach condo hits the market for $8M
    Colin Meadows and 451 East Dilido Drive, Miami Beach. (Invesco, Luxe Living Realty)
    Solid return on investment? Invesco managing director sells waterfront Venetian Islands home for $12M
    Solid return on investment? Invesco managing director sells waterfront Venetian Islands home for $12M
    Todd Michael Glaser and Billy Joel with 4640 North Bay Road (Getty, Glaser by Mary Beth Koeth, Todd Michael Glaser)
    Uptown world: Todd Glaser buys Billy Joel’s former Miami Beach home
    Uptown world: Todd Glaser buys Billy Joel’s former Miami Beach home
    Ed & Jackie Rabin and the Apogee Condos. (Getty, Apogee)
    Hyatt Hotels’ former president sells Apogee condo in South Beach for $8M
    Hyatt Hotels’ former president sells Apogee condo in South Beach for $8M
    Ariella Tolkin and Ryan Tolkin with 4380 North Bay Road (Tolkins via Zoom, Salt Conference)
    Finance honchos shell out $14M for waterfront North Bay Road home
    Finance honchos shell out $14M for waterfront North Bay Road home
    Jean-Louis Deniot and his recently sold Miami house. (Getty, Berkshire Hathaway Home Services)
    Jean-Louis Deniot sells waterfront Miami Beach home for $5M
    Jean-Louis Deniot sells waterfront Miami Beach home for $5M
    Miami-Dade condo sales map and Apogee at 800 South Pointe Drive, Miami Beach (Google Maps)
    Miami-Dade condo sales and dollar volume surge at end of February
    Miami-Dade condo sales and dollar volume surge at end of February
    Marc Gardner with his new Miami waterfront house. (Bancard, One Sotheby's)
    Putting it on a credit card? North American Bancard CEO buying Miami Beach mansion for $37M: sources
    Putting it on a credit card? North American Bancard CEO buying Miami Beach mansion for $37M: sources
    arrow_forward_ios

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

    Loading...