Gulf Stream’s most expensive estate is a $39M oceanfront teardown

2.1-acre compound sold for record price after two days on market

Record $39M Sale in Gulf Stream of Oceanfront Teardown

Debra Levitetz, the ex-wife of a grocery magnate, sold her oceanfront teardown in Gulf Stream for a record $39 million, making it the Palm Beach County enclave’s most expensive home.

Levitetz sold the estate at 3223 North Ocean Boulevard to RSPS 3223 North Ocean LLC just two days after it hit the market, records show. The true buyer is unknown.

The Corcoran Group’s Candace Friis and her son, Phil Friis, represented both the buyer and seller. She declined to comment on their identities. 

The sale tops the previous Gulf Stream price record, set by a San Francisco hedge funder who sold his oceanfront estate for $33 million in 2022. 

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Levitetz is the ex-wife of Jeffrey Levitetz, who founded Boca Raton-based Purity Wholesale Grocers in 1982. The privately owned firm is one of the largest wholesalers in the country, with annual sales estimated between $750 million to $1.5 billion, according to published reports. 

Debra and Jeffrey Levitetz bought the Gulf Stream estate for $12.5 million in 2001, records show. After their split, the deed was transferred to her in 2003. Built in 1995 on 2.1 acres, the 12,700-square-foot mansion has eight bedrooms, nine bathrooms, three half-bathrooms, a tennis court and pool, according to property records. It spans 200 feet of oceanfront, Candace Friis confirmed. 

Debra Levitetz listed the compound for $40 million on June 24 and sold the home for $1 million under the asking price on June 26, Redfin shows. Friis said the sale indicated the strength of demand for Gulf Stream properties and confirmed the buyer’s plan to build a new home.

“I think it just is solidifying the exclusivity that Gulf Stream offers,” she said, noting the town’s small size and low inventory. Gulf Stream is just 0.9 square miles in size, with fewer than 1,000 residents, according to the 2020 U.S. Census. 

Luxury buyers are also drawn to the town’s privacy and small private school, Friis said. In May, Pittsburgh-based painting contractor Demetrios Patrinos sold his oceanfront Gulf Stream home for $21 million. In July of last year, the estate of a late Capital One executive sold her estate for $16.7 million. Also last year, baking products supplier James Sausville sold his oceanfront estate for $31.5 million

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