Finance honchos shell out $14M for waterfront North Bay Road home

The newly minted CEO of Schonfeld Strategic Advisors and the managing director of investment banking firm Jefferies bought a waterfront home on Miami Beach’s North Bay Road.

Longtime Jefferies executive Ariella Tolkin and her husband, Ryan Tolkin, paid $13.8 million for the seven-bedroom, seven-and-a-half bathroom home at 4380 North Bay Road, property records show.

Ryan Tolkin was promoted to CEO of Schonfeld in January, adding onto his role as chief investment officer. The firm manages $6.4 billion of third party capital, alongside founder Steven Schonfeld’s family office assets, according to a press release.

Abraham Franco, as trustee of a trust in his name, sold the 7,748-square-foot house. It features a home office, housekeeper’s quarters, a two-car garage, pool, spa, outdoor kitchen and dock, according to the listing.

Hillary Hertzberg and Mendel Fellig

The house hit the market in November for $14.9 million. Mendel Fellig of Compass represented the seller, and Hillary Hertzberg of the Jills Zeder Group at Coldwell Banker represented the buyers. They both declined to comment on the buyers.

The property last traded for $450,000 in 1990. The home was built in 1991, records show.

A number of waterfront houses along North Bay Road have sold in recent months, especially to buyers from the Northeast and California.

Billionaire hedge fund manager Dan Loeb bought the spec mansion at 6440 North Bay Road for $20 million and a teardown farther south for $12 million.

Marc Gardner, the founder and CEO of a major payment processing company, is under contract to pay about $37 million for the mansion and adjacent lot at 4580 North Bay Road, in an off-market deal, sources told The Real Deal.

A doctor also recently sold her home at 4540 North Bay Road to a hidden buyer for $18.7 million. And nearby, Cindy Crawford and her husband Rande Gerber paid nearly $10 million in late December for the waterfront house at 4404 North Bay Road.