Developer pays $8.4M for Highland Beach waterfront manse

Miami /
Mar.March 02, 2018 10:30 AM

2474 South Ocean Boulevard and Richard Chaifetz (Credit: Google and Wikipedia)

Real estate developer Stephen Garchik and his wife, Marla, just purchased a Highland Beach mansion from investor and entrepreneur Richard Chaifetz, property records show.

The roughly 10,500-square-foot home at 2474 South Ocean Boulevard traded hands for $8.4 million, or about $800 per square foot. Palm Beach records show Chaifetz bought the property in 2000 for $7 million.

The Chicago-based businessman is the founder and CEO of ComPsych Corp., which provides employee assistance programs. He also runs an investment management firm in his name and is a licensed neuropsychologist.

The two-story, seven-bedroom house sits on a little more than half-an-acre. Records show it was built in 1959, and features an infinity pool and 200 feet of water frontage.

Stephen Garchik is president of SJM Partners. The company specializes in developing and managing commercial and residential projects throughout the eastern region of the United States, according to its website.

Records show the Garchiks also own residential properties in Boca Raton and Delray Beach. Chaifetz also owns a 31,790-square-foot mansion in Delray Beach, which he bought in 2016 for $34 million.

Last year, another waterfont home in Highland Beach sold to real estate investors Sam and Margaret Marrazzo for $5.6 million.


Related Articles

arrow_forward_ios
23 Tahiti Beach Island Road and 4965 Southwest 82nd Street

Cuban coffee mogul trades waterfront Tahiti Beach mansion for Ponce-Davis estate

Cuban coffee mogul trades waterfront Tahiti Beach mansion for Ponce-Davis estate
Dave Folsom, president & CEO of Sotherly Hotels, and the DoubleTree Resort by Hilton Hollywood Beach at 4000 South Ocean Drive (Credit: Google Maps)

Hollywood DoubleTree’s $59M CMBS loan enters special servicing

Hollywood DoubleTree’s $59M CMBS loan enters special servicing
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
Kevin R. Kreutzfeld of Premier Estate Properties and 1408 West Lake Drive

Waterfront home in Fort Lauderdale’s Harbor Beach sells for $11M

Waterfront home in Fort Lauderdale’s Harbor Beach sells for $11M
Broadstone City Center with Alliance Residential’s Bruce Ward and Nuveen CEO Jose Minaya

Nuveen pays $103M for West Palm luxury apartments

Nuveen pays $103M for West Palm luxury apartments
3621 South Ocean and Corcoran's Jennifer Kilpatrick

Sean Posner, partners sell new Highland Beach townhouses for $12M

Sean Posner, partners sell new Highland Beach townhouses for $12M
Edmund Ansin and the property (Credit: Google Maps)

Billionaire TV family sells Miramar property to Florida Crystals

Billionaire TV family sells Miramar property to Florida Crystals
Toscana apartments and Juan Porro of FCI Residential

Florida Crystals sells Margate rentals for $60M

Florida Crystals sells Margate rentals for $60M
arrow_forward_ios

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

Loading...