Barry Diller set a record by purchasing a plot of land in Miami for $45 million.

Miami-Beach valued at $45 million. Media mogul Barry Diller has officially completed the purchase of valuable real estate on North Bay inMiami-Beach for a mind-boggling $45 million, sources close to the deal told The Post, setting a historic price tag for this exclusive location.

He signed a contract for the land back in February, The Real Deal reports. Diller, 82, a billionaire and chairman of IAC and Expedia Group, as well as the mastermind behind Fox Broadcasting Company and USA Broadcasting, was able to purchase the huge 1.5-acre estate at 5930 North Bay Road from Bay Road Property LLC's Bruce Beal Jr.

Beal, who serves as president and partner at New York-based Related Companies,boughtplot for $18.5 million in 2018 from convicted tax evaders Maurizio Cohen Assor and his son Leon Cohen-Levy, owners of the Flatotel hotel chain. The acquired site sits on 1.5 acres.

Buying sets a new mark for the marketreal estateon the North Bay and is a significant development in a surging marketplacereal estatesouthFlorida.

Since its acquisition in 2018, real estate prices in the area have increased, spurred by an influx of wealthy buyers,searchingluxury waterfront properties.

Real estateon North Bay, formerly the site of Whitehall Manor, has a rich history, with legends of legendary figures such as John F. Kennedy and Marilyn Monroe having visited there. Following Beal's acquisition of the Cumen site for $22.9 million in June and venture capitalist Chris Burch, who briefly put his waterfront residence up for sale for $49 million in August.