LifeCare CEO buys Gulf Stream home

Peter Burki and his wife paid $8.5 million for property on North Ocean Boulevard

Feb.February 06, 2019 01:30 PM

Peter Burki and 2801 North Ocean Boulevard (Credit: Realtor)

The CEO of a Connecticut-based healthcare company LifeCare bought a Gulf Stream waterfront home for $8.5 million.

Peter Burki and his wife, Siri, bought the 5,603-square-foot home at 2801 North Ocean Boulevard for $1,517 per square foot, records show. The Burkis purchased the home from Betty Brown Vander Walk, who bought the property with her husband in 1991 for $1.1 million.

The house has five bedrooms and eight bathrooms and was built in 1993.

Burki co-founded LifeCare in 1984 in Westport, Connecticut to help employees manage their childcare needs. It offers a number of work-life products for employers and has a membership base of 100 million, according to its website.

A number of wealthy buyers are migrating from New York and Connecticut to Florida to take advantage of the state’s beneficial tax laws. The new federal tax law further limits the deductions for state and local taxes, meaning wealthy individuals in high-tax states in the Northeast owe more to the Internal Revenue Service.

Other wealthy investors have bought property in the quiet oceanfront town of Gulf Stream, with some looking to build new homes. In May, Peter Lampl, a British private equity CEO, sold his Gulf Stream estate at 3545 North Ocean Boulevard for $14.25 million to a San Fransisco-based company.

Related Articles

777 North Ocean Boulevard in Gulf Stream (Credit: Redfin)

Developer who set spec mansion record in Palm Beach scores big profit on latest oceanfront flip

Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

Miami developer Dan Kodsi plans large St. Petersburg project that could cost $2B

South Florida firm buys Sunrise apartment complex for $20.2M

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

PB Gardens condo community seeks yet another contractor to repair its buildings