A Philadelphia attorney sold a waterfront spec home in Highland Beach for $14.9 million in an off-market deal.
Records show Michael J. Garnick’s 4320 Intracoastal LLC sold the house at 4320 Intracoastal Drive to Anthony Berritto, who heads his namesake family investment office in Boca Raton.
Garnick is a lawyer and the head of Garnick and Associates in Philadelphia. He also bought the waterfront house at 4022 South Ocean Boulevard in Highland Beach for $4.7 million in 2023, property records show.
He bought the 0.3-acre Intracoastal Drive site for $2.9 million in 2021, according to records. He filed a notice of commencement to build a single-family home with a pool in 2022. Property records have yet to update with the specifics of the home’s size and scope. Former listings show the property has 107 feet of waterfront along the Intracoastal Waterway.
Highland Beach is a coastal enclave popular with luxury buyers. Earlier this month, Texas businessman David P. Pfeil bought an oceanfront mansion nearby, at 4217 Intracoastal Drive, for $15 million. Last month, Justin Gmelich, co-chief investment officer of Millennium Management, bought an oceanfront estate for $28.5 million. In May of last year, Steve Buchanan, the former owner of Buchanan Energy and Bucky’s Convenience Stores, sold his oceanfront mansion for $50 million, making it the most expensive home ever sold in Highland Beach.