Former J.Crew chief Mickey Drexler —who in 2017 spent over $26 million on adjacent waterfront properties in Miami Beach—is expanding again, snagging a neighbor’s property for $16.5 million, according to people familiar with the transaction
Former J.Crew chief Mickey Drexler—who in 2017 spent over $26 million on adjacent waterfront properties on one of Miami Beach’s most exclusive streets—is expanding again, snagging a neighbor’s property for $16.5 million, according to people familiar with the transaction.
The purchase extends Mr. Drexler’s footprint on affluent North Bay Road to roughly 1.3 acres across three parcels on 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 executive chairman of Shutterstock, and his wife, Talia Oringer, purchased a house there for around $42 million, property records show. Barry Gibb, a founding member of the Bee Gees, also owns a home on North Bay Road, according to property records, and retired NBA star Dwyane Wade recently sold his home on North Bay Road for $22 million.
Mr. Drexler has been piecing together the property on North Bay Road for several years. In 2017, he spent $12.85 million to buy a property with a mansion from fashion designer Calvin Klein, property records show. At the time of sale the Mediterranean-style house wrapped around an interior courtyard and had a dock on Biscayne Bay.
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