Golden Beach mansion of late developer and entrepreneur lists for $24M

If sold at asking price, it could set a new record in Golden Beach

Miami /
Aug.August 06, 2020 06:15 PM
577 Ocean Boulevard and Ralph Arias (Sotheby’s)

577 Ocean Boulevard and Ralph Arias (Sotheby’s)

The Golden Beach mansion of late real estate developer Sidney Levy is hitting the market for $23.95 million.

Levy’s wife, Sandra Levy, owns the 10,000-square-foot home at 577 Ocean Boulevard. Sandra, a philanthropist who has raised millions of dollars for the Diabetes Research Foundation, said she’s looking to downsize in Golden Beach.

Ralph Arias of One Sotheby’s International Realty is the listing agent. The 1-acre oceanfront property includes 150 feet of water frontage. The 1930s Mediterranean-style home has “good bones,” Arias said. It includes grandfathered features that can no longer be built, such as a large pool close to the ocean, he said.

Levy called her husband “a real entrepreneur,” who was an early investor in discount malls. He also invested in single-family homes and apartment buildings. “At one point he owned more square footage in discount malls than anyone in the U.S.,” she said.

Sidney led his Levy Development Company, and owned one of the largest automotive truckers in the country, as well as a scrap metal company in Wisconsin, a textbook publishing firm, and an oil and gas drilling company, according to his obituary from 2018. He also owned the copyright and trademark to “Pepito,” a Hispanic folklore character.

The couple purchased the Golden Beach house in 1980 for just under $900,000, records show.

Golden Beach, a small oceanfront town north of Sunny Isles Beach, has been home to Tommy Hilfiger, photographer Bruce Weber, Tom Joyner and Ricky Martin. In June, the house at 125 Ocean Boulevard sold for $7.2 million. Last year, the mansion at 387 Ocean Boulevard sold for $19 million.

If sold at its asking price, Levy’s house would set a record, surpassing the $22.5 million sale of 317 Ocean Boulevard in 2014, which Arias helped broker.

Write to Katherine Kallergis at [email protected]


Related Articles

arrow_forward_ios
429 Center Island Drive and Vladimir Spector (Lifestyle Production Group, Linkedin)

Golden Beach mansion of late South Florida developer who died of Covid-19 trades for $8M

Golden Beach mansion of late South Florida developer who died of Covid-19 trades for $8M
Marcel Safar and 407 Ocean Boulevard, Golden Beach (Lifestyle Production Group)

Real estate honchos sell Golden Beach home for $6M

Real estate honchos sell Golden Beach home for $6M
135 Ocean Boulevard, Golden Beach (Google Maps)

Oceanfront Golden Beach lot sells for $24M

Oceanfront Golden Beach lot sells for $24M
667 Ocean Boulevard, Sammy Sosa (Credit: Jason Koerner/Getty Images, and Levy PR)

Sammy Sosa’s former Golden Beach home hits the market for $20M

Sammy Sosa’s former Golden Beach home hits the market for $20M
364 Golden Beach Drive & Moshe Manoah (Realtor)

Real estate honcho buys waterfront Golden Beach home for $5M

Real estate honcho buys waterfront Golden Beach home for $5M
Christopher Forest Longsworth (Invesca)

Invesca CEO Christopher Longsworth dies at 36

Invesca CEO Christopher Longsworth dies at 36
Celebration Pointe (Garco)

Island Capital affiliate pays $64M for Margate apartments

Island Capital affiliate pays $64M for Margate apartments
International Inn at 2301 Normandy Isle, Miami Beach (Google Maps)

Miami Beach approves 8-story addition for International Inn

Miami Beach approves 8-story addition for International Inn
arrow_forward_ios

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

Loading...