Manager Of $14 Billion New York Hedge Fund Buys Miami Beach Properties, Submits Plans For ‘Dream Home’

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.

 

 

 

 

14 Comments
most voted
newest oldest
Inline Feedbacks
View all comments
Walter Scott Betts
1 month ago

What’s their refund policy on that? Just curious.

Anonymous
1 month ago

I realize this information is public, but there’s no need to share the floorplan. Is no one entitled to privacy anymore?

Anonymous
1 month ago

Exactly. I will tell you why. A bunch of fan boys on here who get excited when someone rich comes to town. Like country bumpkins. It puzzles me why they get so turned on by the idea of someone weatlhy who they do not know, will have zero contact with, will be living in seclusion someplace. I can see them, eating chips with a contented smile as they head to their retail job thinking I live in a city where rich people live…that makes me SOMEBODY! Thank ya massa!

Anonymous
1 month ago

Would you rather have rich people COMING or GOING? This guy buys this house, property taxes go up massively, he hires builders, maintenance staff etc., throws parties here hiring staff, spends $ at restaurants etc. These are GOOD THINGS. IDGAF who the guy is. I don’t have to hang out with him or ever see him. But if he wants to come here and spend $, and pay local taxes, that’s good for everybody.

Anonymous
1 month ago

I’m still laughing when he said “A bunch of fan boys on here who get excited when someone rich comes to town. Like country bumpkins.”

Let’s see, MiamiDade has had or have people living there like Labron James, Sylvester Stallone, Madonna, a Saudi Prince, the soul group Cameo, Jennifer Lopez and Alex Rodriguez, Shakira, Phil Collins, Enrique Iglesias and Anna Kournikova, Oprah, Shaquille O’Neal, Ricky Martin, Matt Damon, Barry Gibb, Pharrell Williams, Floyd Mayweather, Sean Combs or Diddy, Caroline Wozniacki…

Whew, I’m tired, because I haven’t even mentioned Rappers and Ball Players yet, so will somebody else take over….

Anonymous
1 month ago

Cool? Congrats? Enjoy the tax savings?

Anonymous
1 month ago

And???

Anonymous
30 days ago

He can sit by his pool and think of more companies to destroy through short-selling.

Anonymous
1 month ago

Should be approved. Newer homes are being built on the beach at higher, built-up elevations; better prepared for climate change.

Anonymous
1 month ago

Why do you think Tallahassee and Sacramento and Carson City are located where they are? Because when the states were founded nobody believed South Florida, LA, and Vegas could ever sustain large year round populations.

Anonymous
1 month ago

“Because when the states were founded nobody believed South Florida, LA, and Vegas could ever sustain large year round populations”

Uh.. I think the invention of air-conditioning had a lot to with that.

Anonymous
1 month ago

Um, no… There’s a myriad of other reasons those capitals are where they are located, and were founded years before South Florida, LA, or Las Vegas were so developed. As for Tallahassee, it was chosen as it was half way between Pensacola and St. Augustine.

Anonymous
1 month ago

Miami Beach needs more homes over 20,000 ft.²

Anonymous
1 month ago

Miami Beach won’t let developers build taller, but replace a beautiful old home with a concrete box? SAD!