Gulf Stream spec mansion trades for nearly $16M

Miami /
May.May 03, 2016 05:15 PM

A beachfront speculative mansion in the posh town of Gulf Stream in Palm Beach County just traded for $15.875 million.

County records show a company led by contractor Seaside Builders‘ Thomas Laudani sold the newly built mansion at 1275 North Ocean Boulevard for nearly $1,781 per square foot.

The 8,915-square-foot six-bedroom, seven-bathroom mansion is two stories and boasts modern finishes, a large outdoor pool and 150 feet of ocean frontage. It was designed by architect Richard Jones to have the feel of a Bermuda home, with exposed ceiling beams in several of the living spaces and a plethora of wood-framed windows facing the beach.

Seaside owned the home through a limited liability company named after the property’s address. State records show restaurateur Demetrios Patrinos, who owns the Primanti Brothers chain of eateries, is also a managing member of the company.

The partnership listed 1275 North Ocean in November with an asking price of $18.75 million under Pascal Liguori of brokerage Premier Estate Properties. After roughly four months and a $3 million price cut, another limited liability company has come along and scooped up the property.

The company, 1275 North Ocean LLC, has a Virginia address that matches several financial firms including wealth manager Dyson Capital Advisors.

No financing was recorded in county records, and the only hint at ownership is that the company is managed by Richmond, Virginia-based attorney Matthew Farley, who specializes in representing high-net-worth individuals and families.

LynLee Gynn of Park View Realty in West Palm Beach brought the buyer.


Related Articles

arrow_forward_ios
James Sausville and 3565 North Ocean Boulevard (J&K Ingredients, Echo Fine Properties)
Oceanfront Gulf Stream estate flips in one year for 85% markup
Oceanfront Gulf Stream estate flips in one year for 85% markup
From left: Jesse Cohn and Dave Miller of Elliot Management (LinkedIn/Jesse Cohn, LinkedIn/Dave Miller, Corcoran)
Elliott Management’s top brass flips oceanfront Gulf Stream estate for $27M
Elliott Management’s top brass flips oceanfront Gulf Stream estate for $27M
William Oberndorf in front of 3545 North Ocean Boulevard in Gulf Stream (Compass Real Estate, The American Federation for Children)
San Francisco hedge fund manager sells waterfront Gulf Stream estate for $33M
San Francisco hedge fund manager sells waterfront Gulf Stream estate for $33M
Elizabeth “Bess” Weatherman and the Gulf Stream condos (Compass, Warburg Pincus)
Staying in Gulf Stream: Buyer downsizes to $6M oceanfront condo
Staying in Gulf Stream: Buyer downsizes to $6M oceanfront condo
Thryv CEO Joseph A. Walsh (Google Maps, Thryv)
Software CEO buys oceanfront Gulf Stream home for $13M
Software CEO buys oceanfront Gulf Stream home for $13M
David Gibbs and 550 Middle Road, Gulf Stream (Google Maps)
Yum! Brands CEO buys waterfront Gulf Stream home
Yum! Brands CEO buys waterfront Gulf Stream home
3813 North Ocean Boulevard, Gulf Stream (Corcoran)
Insurance honcho and attorney couple sell oceanfront Gulf Stream home for $11M
Insurance honcho and attorney couple sell oceanfront Gulf Stream home for $11M
Keith E. Rowling, James McGraw, and 2985 North Ocean Boulevard, Gulf Stream (Credit: Google Maps)
Stop the presses: McGraw publishing heir sells Gulf Stream house for $8M
Stop the presses: McGraw publishing heir sells Gulf Stream house for $8M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...