Kolter Group Purchases Oceanfront Mansion In Highland Beach From Carol Sawyer Parks For $17.5M

A 5,313-square-foot oceanfront mansion located at 2545 South Ocean Boulevard in Highland Beach has been sold for $17.5 million at a price per square foot of $3,294. The property spans 1.03 acres and features four bedrooms and 4.5 bathrooms, along with a pool and private beach access. This first-time sale home was built in 2009.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $17,500,000
• Address: 2545 South Ocean Boulevard
• Market: Highland Beach
• Square Footage: 5,313
• Price Per Square Foot: $3,294
• Buyer: Kolter Group
• Seller: Carol Sawyer Parks
• Broker: Nick Malinosky & Mike O'Connor - Douglas Elliman
• Lender: CIBC Bank USA
• Mortgage Amount: $27.63 million

The transaction involved Boston developer Carol Sawyer Parks selling the property to KM One LLC, an affiliate of Kolter Group. Nick Malinosky and Michael O’Connor of Douglas Elliman represented the sale. The deal highlighted the buyer's strategic decision to upsize its mortgage with CIBC Bank USA as part of the acquisition process.