Gold Coast Beverage Distributors founder buys Palm Beach townhomes
Buyers recently sold their North Bay Road mansion in Miami Beach for $42M
UPDATED, Nov. 4, 5:50 p.m.: Beverage tycoon Stephen Levin and his wife, Petra, closed on two adjacent townhouses in Palm Beach after selling their waterfront Miami Beach home for $42 million.
Spec home developer Todd Michael Glaser, along with his partners Scott Robins, Philip Levine and Jonathan Fryd, sold the two 5,400-square-foot townhouses they developed to the philanthropist couple for a combined $13.7 million. Property records show Glaser’s 237 Brazilian Avenue LLC sold the townhouses at 237-239 Brazilian Avenue to Brazilian PB Land Trust. Glaser said the villas sold for about $14.8 million, including commissions and other costs.
In late October, the Levins sold their mansion at 4358 North Bay Road in Miami Beach to billionaire Shutterstock founder Jonathan Oringer, setting a new record for waterfront home sales on North Bay Road.
For the Palm Beach sale, Suzanne Frisbie with Premier Estate Properties was the listing agent, and Paulette Koch of the Corcoran Group represented the buyer. Koch declined to comment on the buyer’s identity.
“They wanted to familiarize themselves with Palm Beach, and we really scoured the market and looked at a number of properties,” she said.
Stephen Levin founded Gold Coast Beverage Distributors, one of South Florida’s largest beverage wholesalers, and sold it in 2014 for more than $1 billion. In June, West Palm Beach-based MorseLife Health System announced a $5 million gift from the couple. Stephen Levin serves as the nonprofit’s chairman.
The villas have a total of 10 bedrooms, 10 bathrooms and four half-bathrooms, according to the listing. They each include gardens, an interior courtyard and pool, open kitchens and family rooms, master suites, and four-car garages. Portuondo-Perotti designed the townhouses.
Glaser is under contract to purchase the Palm Beach property owned by the late financier and convicted sex offender Jeffrey Epstein, at 358 El Brillo Way.
The Miami Beach and Palm Beach developer has been active in recent months in both markets. He recently sold the waterfront spec mansion at 6650 Allison Road in Miami Beach for $15.2 million.