Heirs of the late Broadway director and producer Harold Prince have settled a sibling dispute over his waterfront North Bay Road mansion in Miami Beach.
Daisy Chaplin bought out her brother, Charles Prince, for $10 million, and gained 100 percent ownership of the house at 6000 North Bay Road, records show. She took out an $8 million loan with MidFirst Bank and a balloon promissory note for $5.2 million with Prince as the lender. Court documents state the siblings each had owned a 50 percent stake in the 9,024-square-foot mansion that was originally built in 1937.
On Tuesday, a day before the closing, Prince voluntarily dismissed a foreclosure lawsuit he had filed against Chaplin. According to the March 29 complaint, Chaplin took out a $944,000 loan on the waterfront property and allegedly kept all the proceeds without telling Prince.
Prince, an orchestra conductor who resides in Mattersburg, Austria, was seeking a court order to force Chaplin to buy him out or sell the home so they could split the proceeds, the lawsuit states. His sister is a New York City-based writer and editor whose work has appeared in The New York Times, Vanity Fair and Town and Country, according to an online bio.
Their father, Harold “Hal” Prince, died in 2019. He is considered one of the most renowned figures in 20th Century American theater, producing and directing Broadway hits such as “West Side Story,” “Fiddler on the Roof,” “Cabaret,” “Sweeney Todd,” and “Phantom of the Opera.” He won a record-setting 21 Tony Awards, according to his obituary in The New York Times.
Harold Prince originally bought the North Bay Road mansion in 1987 for $1.7 million, records show. The home was transferred to a trust in Harold Prince’s name in 2000. His children were deeded the property in 2015. The two-story mansion has eight bedrooms and eight and a half bathrooms. According to a Zillow estimate, the property is worth $17 million.
Waterfront mansions on North Bay Road have been selling at a fast clip. Chicken Kitchen founder Christian de Berdouare and his wife, former TV journalist Jennifer Valoppi, sold their seven-bedroom spec mansion at 5004 North Bay Road this month for $29.5 million. A week earlier, Mickey Drexler, former CEO of J. Crew and Gap, paid $16.5 million for a house at 4434 North Bay Road that is adjacent to another waterfront property at 4462 North Bay Road he bought for $13.7 million three years ago.
In July, Apollo Global Management’s Josh Harris bought a mansion at 2060 North Bay Road from Softbank Group CEO Marcelo Claure. The deal closed for $32.3 million. A month earlier, a trust paid $25 million for a mansion at 4412 North Bay Road.