Former J.Crew boss Mickey Drexler, who spent over $ 26 million on adjoining waterfront properties on one of Miami Beach’s most exclusive streets in 2017, is expanding again and snapping, according to people familiar with the deal , a neighbor’s property for $ 16.5 million.
The purchase expands Mr. Drexler’s presence on affluent North Bay Road to approximately 1.3 acres across three lots in Biscayne Bay, according to property records. The result is one of the largest properties on a strip known for its business titans and celebrities.
Last year, Jonathan Oringer, founder and CEO of Shutterstock, and his wife Talia Oringer bought a house there for around $ 42 million, real estate data shows. Barry Gibb, a founding member of Bee Gees, also owns a home on North Bay Road, according to real estate records, and retired NBA star Dwyane Wade recently sold his home on North Bay Road for $ 22 million.
Mr. Drexler has been assembling the property on North Bay Road for several years. In 2017, he spent $ 12.85 million buying a mansion property from fashion designer Calvin Klein, real estate records show. At the time of sale, the Mediterranean-style home was wrapped around a courtyard and docked on Biscayne Bay.
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