Former Gulf Stream home of conductor Robert Craft and actress wife sells for $9M

The oceanfront home traded for $1,482 psf

Miami /
Jul.July 25, 2017 05:00 PM

Actress and singer Alva Craft, formally known as Alva Celauro Minoff, just sold her waterfront Gulf Stream home for $9 million, property records show.

Alva is the widow of the late conductor Robert Lawson Craft, who worked closely with esteemed Russian-born composer Igor Stravinsky. He passed away in 2015. Records show the couple purchased the home in 1995 for $1.4 million.

The 6,077-square-foot oceanfront house at 1357 North Ocean Boulevard traded for $1,482 per square foot.

Husband and wife Paul and Nancy Zarcadoolas are the buyers. Records show Paul Zarcadoolas owns a waterfront mansion at 97 Island Drive South in Ocean Ridge, which he recently listed for $10.5 million, according to Realtor.com. Paul Zarcadoolas is the founder of Budget Insurance, and his wife Nancy is involved in multiple local foundations, including the Magnolia Society at Bethesda Hospital in Boynton Beach.

Their new Gulf Stream property, built in 1996, is smaller than their current home but still offers ocean views. Records shows it sits on a third of an acre and features 100 square feet of ocean frontage. The home comes with marble floors, high coffered ceilings, a fireplace and a 54-foot pool.

Home sales are increasing slightly in Palm Beach County. Residential sales were up 2 percent in June, year-over-year, to 3,085 closings, according to the Realtors of the Palm Beaches and Greater Fort Lauderdale. Single-family home sales increased 1.8 percent to 1,855.

In May, developer Robert G. Fessler bought a Gulf Stream oceanfront estate for $7.6 million, with plans to renovate and flip it. Earlier this month, a Palm Beach home sold for $10.6 million to Robert Buford, president of the Chicago-based investment management company Planned Realty Group.


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