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J.Crew’s former CEO Mickey Drexler buys $13.7M plot of land on Miami Beach

It’s right next to his mansion

The New York Times 2017 DealBook Conference Photo by Michael Cohen/Getty Images for The New York Times

Former J.Crew guru Mickey Drexler is making big moves in Miami. The current J. Crew chairman and former CEO just snapped up the waterfront lot adjacent to his Miami Beach mansion on North Bay Road, The Real Deal reports.

Drexler bought his Miami Beach sanctuary from fashion designer Calvin Klein in 2017. The historic 1920s home with its unobstructed water frontage and infinity pool passed from one famed fashion boss to another.

Now Drexler is making another investment, paying $13.7 million for the plot of land sold by Bill Roedy, former chairman and CEO of MTV International. The site originally listed on the market for $25 million in 2015, and The Real Deal reports Roedy paid $4.42 million for the property in 2010. Fun fact: the lot was once home to North Bay Road Castle, one of Miami’s most eccentric homes. As in “hybrid of a pirate ship and a Gothic castle” level of eccentric.

Besides retail, Drexler’s other passion seems to be real estate. In recent years, he’s listed multiple luxury Tribeca apartments, and this fall, he listed his oceanfront Hamptons home for $21.5 million.