The Real Deal Miami

Chicago investor drops $34M on Delray Beach manse

Property last sold in 2010 for $9.3 million and was developed in 2013

March 02, 2016 06:15PM
By Katherine Kallergis

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Richard A Chaifetz

Richard A. Chaifetz

Investor and entrepreneur Richard A. Chaifetz picked up an oceanfront Delray Beach estate for $34 million.

Palm Beach County records show Chaifetz, founder of the Chicago-based Chaifetz Group, bought the 31,786-square-foot mansion at 921 South Ocean Boulevard. The 1.7-acre property includes seven bedrooms, nine bathrooms and five half-baths. It was listed for sale at $39.95 million in January, according to

Chaifetz bought the home through a revocable trust, records show. 921 South Ocean Boulevard LLC, managed by president and real estate attorney Cristofer A. Bennardo, is the seller. The Boca Raton-based firm paid $9.3 million for the property in 2010.

The waterfront property was developed in 2013 and includes a home theater, reflection ponds, a pool, spa, fountain, outdoor fireplace, balconies and more than 155 feet of oceanfront.

Chaifetz is also a licensed neuropsychologist and philanthropist. He’s also founder and chairman of Chicago-based ComPsych Corporation, a provider of employee assistance programs.

Pascal Liguori of Premier Estate Properties was the listing agent. For photos of the property, click here.

Delray Beach has attracted high-profile sales and listings in recent months. Actor and comedian Kevin James put his Delray Beach estate on the market for $29 million. James listed the waterfront 2.8-acre home at 502 North Ocean Boulevard in February. Also that month, a co-developer of Miami Worldcenter bought the property nearby to Chaifetz, also an oceanfront estate, at 901 South Ocean Boulevard.