Published by The Real Deal South Florida, January 18, 2021
Spec home developer Peter Fine sold a Miami Beach mansion to billionaire hedge fund manager Dan Loeb for $20 million, The Real Deal has learned.
Fine’s 6440 NBR LLC sold the six-bedroom, 13,386-square-foot home at 6440 North Bay Road to a Delaware entity named after the address. Sources confirmed the buyer is Loeb, founder and CEO of Third Point, a New York-based hedge fund.
Loeb is worth about $3 billion, according to Forbes. He founded Third Point LLC, a New York-based activist hedge fund in 1995, and is CEO of the company. Loeb is also developer Shahab Karmely’s silent backer, TRD reported in 2017.
The Mansion features a gym, wine cellar, home theater, elevator, rooftop deck, separate entrance for the guest quarters, and a pool and dock, according to the listing. It had been on and off the market since 2015, most recently asking $23.5 million in September. The property has 100 feet of water frontage.
Sales have surged in waterfront neighborhoods in Miami Beach, including North Bay Road, the Venetian Islands and the Sunset Islands.