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23 Ocean Family Trust Acquires Oceanfront Mansion From Sidney Ferenc For $27.05M In Highland Beach

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SOLD
$27,050,222

Florida

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Single Family13,930 SF
Sold 05/01/2025
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Property Image
SOLD

23 Ocean Family Trust Acquires Oceanfront Mansion From Sidney Ferenc For $27.05M In Highland Beach

2363 South Ocean Boulevard

See Similar Deals
Single Family13,930 SF
Sold 05/01/2025
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$1,941
Total Square Footage:13,930 SF
Transaction Type:Sale

The property asset involved in this closed transaction is a single-family home located at 2363 South Ocean Boulevard in Highland Beach. The transaction concluded for a sale price of $27,050,222. The residence spans 13,930 square feet and sits on a lot of 0.96 acres.

Summary of transation details:

  • Property Type: Single Family
  • Transaction Amount: $27,050,222
  • Address: 2363 South Ocean Boulevard
  • Market: Highland Beach
  • Square Footage: 13,930 SF
  • Price Per Square Foot: $1,942
  • Buyer: 23 Ocean Family Trust
  • Seller: Sidney Ferenc - Applied Underwriters
  • Brokers: Michael O'Connor & Nicholas Malinosky - Douglas Elliman

In this transaction, the brokers Michael O'Connor and Nicholas Malinosky represented both the buyer, 23 Ocean Family Trust, and the seller, Sidney Ferenc, who purchased the property in 2014 for $11 million. The recent sale reflects Sidney Ferenc's activities, including a recent closing on a $6.3 million home in Boca Raton.

Players

Nicholas (Nick) Malinosky
20 deals$459.4M volume
BROKER

Michael (Mike) O'Connor
Douglas Elliman
8 deals$106.3M volume
BROKER

Details

SOLD
IMAGE: Nicholas Malinosky & Michael O'Connor DATE: 05/01/2025 ADDRESS: 2363 South Ocean Boulevard MARKET: Highland Beach ASSET TYPE: Single Family ~ ACRES: 0.96 BUYER: 23 Ocean Family Trust SELLER: Sidney Ferenc - Applied Underwriters BROKERS: Michael O'Connor (@BostonMikeee) & Nicholas Malinosky (@RandyandNick) - Douglas Elliman (@DouglasElliman) SALE PRICE: $27,050,222 SF: 13,930 ~ PPSF: $1,942 NOTE: Sidney Ferenc sold his 13,930 SF oceanfront Highland Beach mansion at 2363 South Ocean Boulevard for $27.05M to the 23 Ocean Family Trust, with Douglas Elliman’s Nicholas Malinosky and Michael O’Connor representing both sides.Ferenc bought the property for $11M in 2014 and recently closed on a $6.3M home in Boca Raton; the sale reflects ongoing record growth in Highland Beach luxury real estate.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,442,678.50

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$96,103.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$128,231.85
Annual Debt Service$1,538,782.23