Media mogul Barry Diller has officially closed on the purchase of a prime waterfront property on North Bay Road in Miami Beach for an eye-watering $45 million, sources close to the deal informed The Post, marking a historic price tag for the exclusive locale.
He entered into contract for the plot of land back in February, The Real Deal reported.
Diller, 82, the billionaire chairperson of IAC and Expedia Group — as well as the visionary behind Fox Broadcasting Company and USA Broadcasting — acquired the sprawling 1.5-acre estate at 5930 North Bay Road from Bruce Beal Jr.’s Bay Road Property LLC.
Beal, who holds the position of president and partner at New York-based Related Companies, had acquired the property for $18.5 million in 2018 from convicted tax evaders Mauricio Cohen Assor and his son Leon Cohen-Levy, owners of the Flatotel chain.
