J. Christopher Burch, an investor and co-founder of the fashion brand Tory Burch, has listed his Miami Beach waterfront home for $49 million. He purchased the property for $14.2 million in February 2020 and undertook extensive renovations, transforming the 1930s 10,389-square-foot house into a postmodern residence.
The home is located in the exclusive La Gorce subdivision on North Bay Road, an area known for its celebrity residents and bay and downtown views. The approximately 0.75-acre lot boasts 140 feet of water frontage on Biscayne Bay, a dock, eight bedrooms, eight bathrooms, a rooftop lounge, and a pool, along with a guesthouse.
Burch, also the founder and CEO of Burch Creative Capital, decided to sell due to the property being too large for a single person and the opportune market conditions in South Florida, where property values have surged. The listing agents, Albert Justo and Mirce Curkoski of ONE Sotheby’s International Realty, are confident of finding a buyer despite a slight slowdown in the luxury market compared to previous years, citing continued demand from wealthy individuals relocating to the region.
This listing comes amidst other high-profile Miami real estate transactions, including Jeff Bezos's $68 million purchase on Indian Creek Island and Ken Griffin's record-setting $106.875 million deal in Coconut Grove. Another $49 million Miami Beach home on Star Island, previously owned by Leonard Miller of Lennar Corp., was also recently on the market.
