Former CEO of J. Crew and Gap adds to North Bay Road waterfront assemblage

Miami Beach investor Abbey Berkowitz sold the 7K sf home, built in 1935

Miami /
Sep.September 02, 2021 12:30 PM
Mickey Drexler and 4434 N Bay Road (Getty)

Mickey Drexler and 4434 N Bay Road (Getty)

UPDATED, Sept. 3, 10:10 a.m.: Retail investor Mickey Drexler went shopping for more waterfront land on North Bay Road, and he got it.

Drexler, former CEO of J. Crew and Gap, paid $16.5 million for the 7,135-square-foot house at 4434 North Bay Road in Miami Beach, according to sources. The Wall Street Journal first reported the sale. The property is adjacent to Drexler’s home.

Abbey and Helene Berkowitz sold the six-bedroom house to Drexler. The home, built in 1935 and later expanded, sits on a 16,823-square-foot lot. It has seven bathrooms and one half-bathroom, a pool and dock.

Abbey Berkowitz is an investor whose family owned hotels on Collins Avenue, according to the website for Yehudi, an organization the Berkowitzes co-founded.

The couple paid $925,000 for the North Bay Road house in 1989, property records show.

In the latest sale, Pablo Alfaro of Douglas Elliman represented the buyer and seller of the home. He declined to comment.

With the purchase, Drexler now controls 1.3 contiguous waterfront acres. Drexler is also chairman and CEO of Alex Mill, an apparel company.

More than three years ago, he paid $13.7 million for the waterfront property at 4462 North Bay Road, which is on the opposite side of the home that he and his wife own at 4452 North Bay Road. The couple paid nearly $12.9 million in 2017 for that property, which previously belonged to Calvin Klein.

In November, Drexler sold his Idaho estate and a pair of neighboring lots for $11 million.






    Related Articles

    arrow_forward_ios
    Heath Freeman, managing director of Alden Global Capital, and the house at 3503 Lodge Drive in Coconut Grove, Miami (Getty, Compass / Brown Harris Stevens)
    “Hedge fund vampire” bites into waterfront Coconut Grove mansion for $19M
    “Hedge fund vampire” bites into waterfront Coconut Grove mansion for $19M
    Tech entrepreneur pays $8M for Continuum South Beach condo
    Tech entrepreneur pays $8M for Continuum South Beach condo
    Tech entrepreneur pays $8M for Continuum South Beach condo
    Ex-Sagamore Hotel owners set North Miami record with $11M home sale
    Ex-Sagamore Hotel owners set North Miami record with $11M home sale
    Ex-Sagamore Hotel owners set North Miami record with $11M home sale
    Ex-Miami Dolphins defensive end Andre Branch with the $6 million property (Getty, The Jills Zeder Group)
    Ex-Miami Dolphins player sells non-waterfront Miami Beach home for $6M
    Ex-Miami Dolphins player sells non-waterfront Miami Beach home for $6M
    9408 Bay Drive
    Waterfront Surfside home that set record in January flips for 20% gain
    Waterfront Surfside home that set record in January flips for 20% gain
    Renderings of 3017 Flamingo Drive and Andrew Lessman (D/Vice Inc., ProCaps Laboratories)
    Vitamin mogul Andrew Lessman wins approval to build Miami Beach mansion
    Vitamin mogul Andrew Lessman wins approval to build Miami Beach mansion
    After the construction of Eighty Seven Park (Google Maps)
    Before Surfside tragedy, neighboring tower faced opposition, delays over construction impact
    Before Surfside tragedy, neighboring tower faced opposition, delays over construction impact
    AIMCO founder Terry Considine and a rendering of the Grand Flamingo tower
    Miami Beach board rejects Aimco’s proposal for Grand Flamingo tower
    Miami Beach board rejects Aimco’s proposal for Grand Flamingo tower
    arrow_forward_ios

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

    Loading...