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Gabe Plotkin Melvin Capital
13 May

TOUR GAMESTOP SHORT SELLER GABRIEL PLOTKIN OF MELVIN CAPITAL’S $44 MILLION NORTH BAY ROAD MEGA-CASTLE

Gabe Plotkin Melvin Capital has been in the news fairly a bit lately afterward his hedge fund might have posted a loss in the billions in the stock market shorting GameStop. Plotkin made his first splash while he acquired the Choeff Levy Fischman-designed 6360 North Bay Road plus 6342 North Bay Road on Miami Beach in November 2020 for $44 million. He then applied to annihilate an 80-year-old home on the 6342 North Bay Road site to construct a tennis court for the complex. As of its February 2021 13F filing, Melvin Capital had 62 entire reported positions in US equities for an entire market value of $23.5 billion.

The residence at 6360 North Bay Road was planned by Choeff Levy Fischman plus completed in 2018. The home offers waterfront living as well as year-round entertainment. Eight-bedroom eight-bath leading house, a four-bedroom four-bath guesthouse, as well as a cabana house. The ultra-luxe modern home was designed to mix the outdoors with inside with floor-to-ceiling glass sliding walls.

Gabe Plotkin

The mansion is spread above 13,381 square foot by 2,700 square foot of covered outside space and a 3,000 square foot roof deck which offers extensive panoramas of Biscayne Bay plus sunsets over the water. The courtyard features a resort-style mosaic glass pool, in-built spa, detached cabana house, plus a summer kitchen. The 27,608 SF lot features a novel 60’ pier dock plus seawall with 112’ of water frontage.

Melvin Capital suffered severe losses after his short position in GameStop was targeted by associates of the Reddit communal Wall Street Bets. The group of retail traders pooled together toward driving up GameStop’s market value and squeezing out short-sellers. Gabe Plotkin Melvin Capital received a $2.75 billion bailout following the tradeoff fallout from Ken Griffin’s Citadel as well as Steven Cohen’s Point72. Melvin Capital beforehand had $13 billion underneath management.