Melvin Capital’s Gabriel Plotkin has been in the news quite a bit recently after his hedge fund may have posted a loss in the billions in the stock market shorting GameStop. Plotkin made his first splash when he acquired the Choeff Levy Fischman-designed 6360 North Bay Road and 6342 North Bay Road on Miami Beach in November 2020 for $44 million. He then applied to demolish an 80-year-old home on the 6342 North Bay Road site to build a tennis court for the compound.
The residence at 6360 North Bay Road was designed by Choeff Levy Fischman and completed in 2018. The home offers the ultimate in waterfront living and year-round entertainment. eight-bedroom eight-bath main house, a four-bedroom four-bath guesthouse, and a cabana house. The ultra-luxe modern home was designed to blend the outdoors with inside with floor-to-ceiling glass sliding walls. The mansion is spread over 13,381 square foot with 2,700 square foot of covered outdoor space and a 3,000 square foot rooftop deck which offers sweeping panoramas of Biscayne Bay and sunsets over the water. The backyard features a resort-style mosaic glass pool, built-in spa, detached cabana house, and a summer kitchen. The 27,608 SF lot features a new 60’ pier dock and seawall with 112’ of waterfrontage.
Melvin Capital suffered serious losses after his short position in GameStop was targeted by members of the Reddit community Wall Street Bets. The group of retail traders pooled together to drive up GameStop’s market price and squeeze out short-sellers. Melvin Capital received a $2.75 billion bailout following the trading fallout from Ken Griffin’s Citadel and Steven Cohen’s Point72. Melvin Capital previously had $13 billion under management.
Photos via Felipe Ariano
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