James Terlizzi, chairman of DRB Capital, has sold his waterfront home in Gulf Stream for $15.9 million. Property records indicate that Terlizzi and his wife, Laura Terlizzi, sold the residence at 8 Driftwood Landing to Zee El Ocho LLC, a Florida-based entity managed by Benjamin J. Bavly. Bavly is listed as the CEO of BlackStar Capital in Chestnut Hill, Massachusetts.
Candace and Phillip Friis of the Corcoran Group represented both the seller and the buyer in the transaction.
Terlizzi has served as chairman of Delray Beach-based DRB Capital since 2014, after previously holding the position of CEO at Peachtree Financial Solutions.
The Terlizzis originally purchased the Gulf Stream property for $4.3 million in 2009. The house, built that same year on a 1.1-acre lot, 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 also includes a guest house. Architect Randall Stofft and Marc Michaels Interiors were part of the design team.
The home was listed for $17.9 million in January and went under contract in May.
This sale is part of a trend of high-value transactions in Gulf Stream, a small luxury area north of Delray Beach where property sales are relatively rare. In September, the Ganger family sold the Miradero estate for $21.6 million. The property was originally designed by Maurice Fatio for Lila Vanderbilt Webb. Also last month, attorney Henry Rosen purchased an oceanfront home for $22 million from Bon Property LLC, managed by Aogán O hAoláin. Earlier this year, Bos Property LLC sold a Highland Beach mansion for $28.5 million.
