Exclusive: See Miami Beach home listed by billionaire fund founder. Why is he selling?

Rebecca San Juan
·4 min read

At a time when millionaires are still moving to Miami, one billionaire is ready to say “goodbye.”

Hedge fund founder Dan Loeb wants out, ready to part ways with his waterfront home at a big profit and head back to New York.

Loeb listed his two-story Miami Beach residence for $45 million on Thursday, according to the home’s listing agents Jill Hertzberg and Danny Hertzberg of the real estate brokerage firm Jills Zeder Group. The 13,386-square-foot house has 7 bedrooms and 12 bathrooms. The house at 6440 North Bay Rd. is a short drive from the La Gorce Country Club.

Loeb, 61, wants to sell his vacation home and focus on his primary residence in New York.

Miami-based architecture firm Choeff Levy Fischman — a go-to choice among celebrities like Alex “A-Rod” Rodriguez — designed the house, which was built in 2016. The house sits on a 100 feet of Biscayne Bay with a boat slip and mosaic-tiled pool. It also has a rooftop deck, home theater and wine cellar. It’s less than a mile away from Bee Gee Barry Gibb’s longtime home.

The house has seven bedrooms and 12 bathrooms. The residence also has a separate 2-bedroom guest wing with its own entrance, kitchen and living room. Above: A look inside the principal suite.
The house has seven bedrooms and 12 bathrooms. The residence also has a separate 2-bedroom guest wing with its own entrance, kitchen and living room. Above: A look inside the principal suite.

Loeb’s work life and Miami Beach departure

Loeb founded the New York-based hedge fund Third Point in 1995. Today, the company oversees $12 billion worth of investments. Worth $3.3 billion himself, Loeb is one of the largest investors in entertainment giant Disney, e-commerce multinational firm Amazon and medical firm Danaher.

“My family and I loved living in Miami during the pandemic, but we haven’t had enough time to use the house since returning to our home in New York City,” Loeb told the Miami Herald in an email. “Miami is such an exciting place right now, and this property is a perfect base to experience everything the city offers.”

Above: A look inside the home’s kitchen, which overlooks the backyard and, in the distance, the bay.
Above: A look inside the home’s kitchen, which overlooks the backyard and, in the distance, the bay.

What to know about the house for sale

Loeb purchased the residence in 2020 for $20 million, according to Miami-Dade County property records. Loeb, his wife, Margaret Davidson Munzer, and their three kids used the residence as an escape during the COVID pandemic. But he decided earlier this year to sell it. The move comes at a time when Loeb’s firm Third Point faces financial losses, as first reported by the Wall Street Journal.

The house merits a 125% increase in price, Danny Hertzberg said, given the $10 million investment he made after purchasing the home, including in the kitchen, millwork, and lighting. Besides, Hertzberg said, recent sales have drawn similar prices, such as the $35.35 million closing of a 12,450-square-foot residence at 64 La Gorce Circle in November.

Interior design firm William T. Georgis decorated and adorned the home. Worth millions, Jills Zeder Group real estate agent Danny Hertzberg said the furniture is excluded from the $45 million but can be purchased separately.
Interior design firm William T. Georgis decorated and adorned the home. Worth millions, Jills Zeder Group real estate agent Danny Hertzberg said the furniture is excluded from the $45 million but can be purchased separately.

Loeb’s house is expected to go quickly, and has already been shown to buyers from across the country. Hertzberg said they’ve received two offers close to listing price from prospective buyers looking to call Miami their primary home, including one from California and another from the Midwest.

The interest across state lines doesn’t surprise him. Since the pandemic, he’s seen an increase in wealthy prospective buyers from San Francisco, Chicago and New York.

“Taxes are the number one driver that are moving people here. Second to taxes is safety and crime. They are living in cities where they don’t feel safe,” Hertzberg said. “On top of it, Miami is seen as a good alternative. It’s not like they’re leaving San Francisco to go to the middle of nowhere. They are going to a place that has great synergy and has other tech and investors.”

“He was the first person I had in my car since the shutdown,” Danny Hertzberg said, recalling taking Loeb on a tour of the residence. “He bought the house at the start of the pandemic.” Above: The home’s playroom and gathering space. Loeb and his wife Margaret Davidson Munzer share three kids.
“He was the first person I had in my car since the shutdown,” Danny Hertzberg said, recalling taking Loeb on a tour of the residence. “He bought the house at the start of the pandemic.” Above: The home’s playroom and gathering space. Loeb and his wife Margaret Davidson Munzer share three kids.

Moving to Miami

Most people moving to South Florida decide to stay for good, Hertzberg said. Loeb is the exception from the wealth migration South Florida experienced during and since the pandemic, which includes entrepreneurs and businessmen Orlando Bravo, Ken Griffin, and, most recently, Jeff Bezos.

Executives and remote workers relocated to the state in droves, leading to Florida becoming the fastest growing state in the country. Many people made Florida their paradise, given zero income taxes, a warm climate, and lean COVID-19 social distancing policies.

Miami Beach’s North Bay Road has long attracted the rich and famous. Over the past few decades, actor Matt Damon, singer and actress J.Lo, and former Miami Heat player Dwayne Wade have lived in the neighborhood. Above: In addition to the breakfast table in the kitchen, the home also has a formal dining room.
Miami Beach’s North Bay Road has long attracted the rich and famous. Over the past few decades, actor Matt Damon, singer and actress J.Lo, and former Miami Heat player Dwayne Wade have lived in the neighborhood. Above: In addition to the breakfast table in the kitchen, the home also has a formal dining room.

Many executives who chose to move to South Florida gravitated to Miami Beach. The movement inspired a push from the city to build a business district off the Lincoln Road Mall and led to developers — such as Michael Shvo — to launch new boutique office projects.

“Miami is such an exciting place right now, and this property is a perfect base to experience everything the city offers,” said Dan Loeb, founder and CEO of Third Point.
“Miami is such an exciting place right now, and this property is a perfect base to experience everything the city offers,” said Dan Loeb, founder and CEO of Third Point.
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