RSPS 3223 North Ocean LLC Buys Gulf Stream Mansion From Debra Levitetz For $39M
3223 North Ocean Boulevard
$39,000,000
$3,066/SF
Building Size
12,717 SF
Asset Type
Single Family
Closing
Jun 26, 2024
AI
The oceanfront property located at 3223 North Ocean Boulevard in Gulf Stream was sold for a record-breaking price of $39,000,000. Formerly owned by Debra Levitetz, the 1.85-acre single-family estate features a 12,717-square-foot mansion with eight bedrooms, nine bathrooms, and extensive ocean frontage.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $39,000,000
- Address: 3223 North Ocean Boulevard
- Market: Gulf Stream
- Size: 1.85 acres
- Buyer: RSPS 3223 North Ocean LLC
- Seller: Debra Levitetz
- Brokers: Candace Friis & Phillip Friis - The Corcoran Group
- Square Footage: 12,717
- Price Per Square Foot: $3,067
Debra Levitetz, the former spouse of grocery magnate Jeffrey Levitetz, successfully closed the deal for her oceanfront property, setting a new benchmark in the exclusive real estate market of Gulf Stream in Palm Beach County. The acquisition by RSPS 3223 North Ocean LLC, just days after listing, reflects the high demand for luxury properties in this coveted area.
Players
Delray Beach Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93