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RSPS 3223 North Ocean LLC Buys Gulf Stream Mansion From Debra Levitetz For $39M

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SOLD
$39,000,000

Florida

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Single Family12,717 SF
Sold 06/26/2024
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Property Image
SOLD

RSPS 3223 North Ocean LLC Buys Gulf Stream Mansion From Debra Levitetz For $39M

3223 North Ocean Boulevard

See Similar Deals
Single Family12,717 SF
Sold 06/26/2024
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$3,066
Total Square Footage:12,717 SF
Transaction Type:Sale

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

Candace Friis
14 deals$343.3M volume
BROKER

Phillip Friis
The Corcoran Group
7 deals$224.4M volume
BROKER

Details

SOLD
IMAGE: Candace Friis & Phillip Friis DATE: 06/26/2024 ADDRESS: 3223 North Ocean Boulevard MARKET: Gulf Stream ASSET TYPE: Single Family ~ ACRES: 1.85 BUYER: RSPS 3223 North Ocean LLC SELLER: Debra Levitetz BROKERS: Candace Friis (@CandaceFriis) & Phillip Friis (@PhilFriisofficial) - The Corcoran Group (@TheCorcoranGroup) SALE PRICE: $39,000,000 SF: 12,717 ~ PPSF: $3,067 NOTE: Debra Levitetz, former spouse of grocery magnate Jeffrey Levitetz, sold her oceanfront property in Gulf Stream for a record $39 million, setting a new benchmark for the Palm Beach County enclave. The 12,717-square-foot mansion, purchased by RSPS 3223 North Ocean LLC just days after listing, boasts eight bedrooms, nine bathrooms, and extensive ocean frontage, highlighting robust demand in Gulf Stream's exclusive real estate market.

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

$2,080,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$138,558.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$184,879.90
Annual Debt Service$2,218,558.76