NRIA, US Construction Sell Spec Mansion in Gulf Stream for $16M

By Brian Bandell – Senior Reporter, South Florida Business Journal

National Realty Investment Advisors (NRIA) and U.S. Construction sold an oceanfront spec mansion in Gulf Stream for $15.9 million in their third mega-mansion sale in this market in the past three months.

N. Ocean Capital 2929 B LLC, a joint venture between Secaucus, New Jersey-based NRIA and Mullica Hill, New Jersey-based U.S. Construction, sold the 7,282-square-foot home at 2929 N. Ocean Blvd. to the 2929 Ocean Trust, with attorney Guy Rabideau as trustee. It’s not clear who owns the trust.

The sales price as listed on MLS was $17 million. Sometimes, assets other than real estate, such as furnishings, are included in a deal.

The seller was represented by Deborah Haines of West Palm Beach-based IMI Worldwide Properties. The buyer worked with Candace Friis of Corcoran Group.

The home is on a 0.99-acre lot with 121 feet of ocean frontage. It features six bedrooms, six bathrooms, two half-bathrooms, three terraces, a loggia and a pool/spa. The architect was Randall Stofft.

Haines noted that this is the third spec mansion sale she’s brokered for NRIA and U.S. Construction since April. She also helped them sell a $14.9 million home in Gulf Stream and a $16 million home in Delray Beach.

Luxury homes in Palm Beach County have been selling at a record pace this year.

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