Hedge funder sells waterfront Miami home for $15M

An entity tied to a New York hedge funder sold a waterfront home in Miami to an Atlanta couple for $14.5 million.

A Delaware entity tied to Mendy Haas, CFO at the hedge fund Third Point, sold the house at 4151 Palm Lane in Miami’s Bay Point neighborhood to Michael Kohlsdorf and Shelly Justice, records show.

Records show the Haas-managed entity bought the property for $13 million in July of last year. The 4,500-square-foot, four-bedroom, four-bathroom house sits on a 0.8-acre lot with 273 feet of water frontage, according to property records. The home is at the end of a cul-de-sac in the private island community and includes a pool, spa and outdoor kitchen, according to the listing.

Jill Hertzberg and Danny Hertzberg of Coldwell Banker Realty’s Jills Zeder Group had the listing, while Tony Rodriguez Tellaheche of Prestige Realty Group brought the buyers.

The buyers each run Atlanta-based businesses. Kohlsdorf is the founder of Francisco Partners Consulting, an Atlanta-based tech investment firm, while Justice is the founder and chairperson of the recruiting software company Senegal Software.

The deed also lists Third Point’s Hudson Yards office as the Haas-managed selling entity’s mailing address. Founded by Daniel Loeb in 1995, Third Point has about $15.9 billion in assets under management.

Last month, Loeb sold a Wynwood development site to Brooklyn-based LIVWRK for $20 million. And in April, he flipped a waterfront teardown on North Bay Road for more than $24 million.

The past two years have seen a surge of demand and price growth for waterfront properties in and around Miami.

Earlier this month, a hedge funder’s wife sold a waterfront Miami Beach home for $13.3 million, up from the $7.4 million she paid for it in 2020.

In November, the waterfront Venetian Island home of the late retail mogul behind Topshop sold for $15 million, and famed crime writer Edna Buchanan sold her Venetian Islands home for $12 million.