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VC head Chris Burch lists waterfront Miami Beach manse for $49M
Tory Burch co-founder bought 0.7-acre estate for $14M in 2020
Christopher Burch is seeking $49 million for his waterfront North Bay Road mansion in Miami Beach.
The venture capitalist and co-founder of his ex-wife’s eponymous fashion brand, Tory Burch, wants to sell his house at 5048 North Bay Road, according to the Wall Street Journal. Mirce Curkoski and Albert Justo of the Waterfront Team at One Sotheby’s International Realty have the listing.
Burch heads New York City-based venture firm Burch Creative Capital. He started the apparel company Eagle’s Eye with his brother, Robert Burch, while he was in college, and has since invested in brands like Solid & Striped, Staud and BaubleBar.
After a brief marriage to real estate mogul Billy Macklowe in 1993, Tory Burch married Christopher Burch in 1996. The couple launched her brand in 2004 before splitting in 2007. He sold most of his stake in the brand in 2012 for $650 million, according to Forbes. The mid-luxury women’s label sold $1.8 billion worth of merchandise last year.
Burch bought the Miami Beach home from Heinz Brasil executive Salvador Paoletti Neto for $14.2 million in 2020. The 0.7-acre estate was built in 1936, records show. The property spans 140 feet of waterfront and includes a 7,000-square-foot, four-bedroom main house, a 1,500-square-foot, two-bedroom guest house, and a pool, per the outlet.
Burch extensively renovated the estate, expanding the kitchen and adding a sauna, cold plunge, and a hot tub to the pool area, the Journal reported. He told the outlet he is on the market for a smaller home in the area.
Burch has invested in other Miami-area properties in the past. In 2019, he sold a waterfront Pine Tree Drive lot for $10.7 million, down from the $12 million he bought it for in 2017.
Burch told the outlet he also rents an apartment in 220 Central Park South in New York City, and owns homes in the Hamptons and near Paris.
–– Kate Hinsche