The Real Deal Miami

Fast food restaurant operator sells waterfront Lighthouse Point estate for $5M

Atlanta-based orthopedic surgeon paid $570 psf for the home
By Katherine Kallergis | April 03, 2017 01:10PM

2388 Northeast 30th Court. Inset: Armin Oskouei, the buyer, and Darrell Valenti, the seller

The founder and CEO of a fast food restaurant management company just sold his Lighthouse Point home for $5 million, after more than a year on the market.

Property records show Darrell J. Valenti and his wife Sheila Valenti sold their eight-bedroom, 8,766-square-foot estate to an orthopedic surgeon based in Atlanta, Dr. Armin Vatani Oskouei. The property, at 2388 Northeast 30th Court, sits on a 27,351-square-foot corner lot with about 400 feet of water frontage.

Darrell Valenti heads Valenti Management, which owns and operates 119 Wendy’s in Tennessee, Mississippi, Arkansas, Missouri and Pennsylvania; and 15 Chili’s in Mississippi and Alabama, according to the company’s website. He founded the firm in 1979.

The Valentis bought their Lighthouse Point home, built in 1984, for $600,000 in 1990, and renovated it in 1993. The property includes a separate guest house, a pool with rock waterfalls, a grotto and slide, and a master suite on the first floor of the main house, according to the listing. It hit the market in January of last year for $6.9 million, and was later reduced to just under $5 million at the beginning of this year. That means it sold for a 27.5 percent discount off the original asking price.

The home traded for about $570 per square foot. Kevin Kreutzfeld of Premier Estate Properties represented the seller, and Rory Vanucchi of Premier Estate Properties represented the buyer.

The buyer is medical director and founder of Ortho Sport & Spine Physicians, an orthopedic sports medicine and interventional spine treatment center with locations in Atlanta, Decatur and Savannah. Records show Oskouei and his wife, Maranda Hope Neuman, financed the deal with a $3.75 million mortgage from JP Morgan.

Lighthouse Point is in Broward County near Hillsboro Beach. The priciest home for sale is a 1.6-acre property at 3100 Northeast 46th Street, which is asking nearly $11 million, or $724 per square foot.