The head of a lotions and supplements manufacturer sold his waterfront Miami Beach estate for $27.7 million.
Joel Meyerson, president and CEO of his Miami-based company, Pure Source, sold his 19,530-square-foot, 12-bedroom mansion, according to Realtor.com and property records. The 1-acre property at 4701 Pine Tree Drive hit the market in January for $31 million.
The estate, called Villa Sole, was completed in 2005 and features 100 feet of water frontage along Indian Creek, two pools and a dock. The house includes a home theater, lighted basketball/tennis court, a billiards room, bar and hair salon, according to the listing.
Oren Alexander of The Alexander Team at Douglas Elliman represented the buyer and seller of the property, both of whom he declined to disclose.
Meyerson’s Pure Source makes custom supplements, creams, lotions, liquids, gels, tablets, capsules and patches. It was founded in 1995, and the company’s 175,000-square-foot facility is in Doral.
Meyerson and his late wife, Tamara Fox Meyerson, paid $1.7 million for the property in 2001.
In late 2020, Meyerson paid $10.7 million for a waterfront Palm Island home in Miami Beach.
Waterfront home sales have continued in South Florida, though the pace of deals has started to slow after a record 2021. In March, David and Leila Centner’s Centner Development sold a newly built waterfront mansion on Pine Tree Drive to hedge funder Nicholas Maounis and his wife Susan for $26 million.
Last month, real estate investor Jonathan Cox sold a waterfront Venetian Islands estate for $19.5 million, more than double the $9 million he paid for the property in late 2020.
And last week, Israeli-American businesswoman Shari Arison sold her waterfront estate in Bal Harbour for $41.5 million, a deal Alexander also brokered.