Diller set a new price record for a unique North Bay Road property by purchasing the 1.5-acre parcel with 200 feet of oceanfront. Previously, the famous Whitehall Building was located on this site.
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Billionaire Barry Diller, chairman of IAC and Expedia Group, bought an oceanfront parcel of land on North Bay Road in Miami Beach for $45 million, setting a new record for the unique street. new york post the report said.
Diller, who also founded Fox Broadcasting and ABC, signed a contract in February for the 1.5-acre site with 200 feet of waterfront at 5930 North Bay Road, the real deal the report said. He purchased the property from Bruce Beal Jr.’s Bay Road Property LLC. Beal is president and partner of Related Companies, a prominent New York City development firm.
Bill has owned the North Bay Road property since 2018, when he acquired it for $18.5 million from convicted tax evader and Flatotel chain owner Mauricio Cohen Assor and his son Leon Cohen-Levy.
Mick Duchon of Corcoran represented the seller in the property sale, and Reid Heidenry and Marko Gojanovic of One Sotheby’s International Realty and Brett Harris of Douglas Elliman represented Diller.
The land was formerly the site of Whitehall Mansion, and the estate was rumored to be the site of a secret rendezvous for John F. Kennedy and Marilyn Monroe. The legendary mansion, which included nine bedrooms, a swimming pool and a helipad, was demolished when Bill acquired the property.
Representatives for the buyer and seller have not publicly stated future plans for the vacant land.
Diller is married to fashion designer Diane von Furstenburg, and the two were major supporters of the creation of New York City’s Island Park on the Hudson River.
Miami Beach home prices have surged in the years since the pandemic hit. A waterfront property on North Bay Road alone sold for $22.9 million last June, and several other properties on that stretch of road sold for $40 million last year.
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