A hedge fund manager has filed plans to expand a mansion on North Bay Road in Miami Beach and demolish a historic home next door.
Gabriel Plotkin paid a combined $44 million for two properties on North Bay Road. The deal closed in November.
Plotkin’s Melvin Capital Management manages $13.1 billion, according to a filing with the SEC in March 2020.
Plotkin goal is to build a “dream home,” according to a letter sent by his lawyers to the city of Miami Beach
The purchase included a 12,651-square-foot mansion at 6360 North Bay Road for $32 million, which was built in 2018.
The home next door at 6342 North Bay Road was built in 1935 and also purchased by Plotkin for $12 million.
Plotkin is requesting approval to demolish the 1935 home, and replace it with a tennis court and outdoor gazebo.
Miami Beach’s Design Review Board is scheduled to review the proposal on February 2.