Private equity honcho and designer buy waterfront Pine Tree Drive lot for $11M

A managing director of a private equity firm and his fashion designer wife bought a waterfront lot in Miami Beach for $10.8 million.

Records show Franz-Ferdinand Buerstedde and Brittany Peltz Buerstedde bought the one-acre lot at 4721 Pine Tree Drive from Joel J. Meyerson.

Franz-Ferdinand Buerstedde is a managing director at New York-based Rhône Group. He joined the firm in 2004, according to its website. Brittany Peltz Buerstedde founded the New York-based children’s clothing line Leah + Rae. She also is the founder and creative director of boutique lifestyle design firm Sena Lifestyle Studio, according to its website.

Meyerson, who purchased a waterfront Palm Island mansion for $10.7 million in November, sold the home individually and as a trustee of several trusts. Meyerson is CEO and president of Miami-based Pure Source, a cosmetics and lotions manufacturer.

Property records show Meyerson bought the Miami Beach property for $3.5 million in 2012. The lot was listed in 2017 for $11 million.

According to Realtor.com, Oren Alexander with Douglas Elliman represented Meyerson, while Alison Zhuk, of the same brokerage, represented the Buersteddes.

The lot spans 43,900 square feet, or just over an acre, and includes 100 feet of water frontage on Indian Creek. According to the listing, the property can accommodate a 20,000-square-foot mansion.

Nearby in Miami Beach, Michelle Simkins this month paid $9.7 million for a waterfront teardown on North Bay Road, and professional photographer Ira Resnick bought a waterfront spec home on Biscayne Point for $8.2 million.

Last year, Softbank’s Marcelo Claure paid $11.1 million for a waterfront teardown on North Bay Road, and developer Jarrett Posner bought the waterfront lot on North Bay Road, once home to Colombian drug lord Pablo Escobar, for $11 million.