James Terlizzi, chairman of DRB Capital, has sold his waterfront home in Gulf Stream for $15.9 million. According to property records, Terlizzi and his wife, Laura Terlizzi, sold the residence at 8 Driftwood Landing to Zee El Ocho LLC. This Florida entity is managed by Benjamin J. Bavly, who is listed as CEO of BlackStar Capital based in Chestnut Hill, Massachusetts.
The listing was handled by Candace and Phillip Friis of the Corcoran Group. Candace Friis also represented the buyer in this transaction.
Terlizzi has served as chairman of Delray Beach-based DRB Capital since 2014 and was previously CEO of Peachtree Financial Solutions, according to Bloomberg.
The couple purchased the property in 2009 for $4.3 million. Built that same year on a 1.1-acre lot, the house spans 7,300 square feet and features six bedrooms, six bathrooms, two half-bathrooms, a pool, and 446 feet of waterfront with two docks. The estate includes a guest house and was designed by architect Randall Stofft along with Marc Michaels Interiors.
The home was listed for $17.9 million in January and went under contract in May, according to Zillow.
This sale is part of a series of high-value transactions in Gulf Stream, a small luxury area north of Delray Beach where properties are rarely traded. In September, the Ganger family sold the oceanfront Vanderbilt estate known as Miradero for $21.6 million after just one month on the market. The estate was originally designed by Maurice Fatio for Lila Vanderbilt Webb, granddaughter of Commodore Cornelius Vanderbilt.
Also last month, attorney Henry Rosen bought an oceanfront property for $22 million from Bon Property LLC, which is managed by Aogán O hAoláin. O hAoláin also manages Bos Property LLC; that entity sold a Highland Beach mansion for $28.5 million earlier this year.
