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, transferred ownership of the house at 8 Driftwood Landing to Zee El Ocho LLC, a Florida company managed by Benjamin J. Bavly. Bavly is the CEO of BlackStar Capital based in Chestnut Hill, Massachusetts.
The listing was handled by Candace and Phillip Friis from the Corcoran Group. Candace Friis also represented the buyer in the transaction.
Terlizzi joined Delray Beach-based DRB Capital in 2014 and previously served as CEO of Peachtree Financial Solutions, according to Bloomberg.
The Terlizzis purchased the property for $4.3 million in 2009. The home was built that same year on a 1.1-acre lot and features 7,300 square feet of living space with six bedrooms, six bathrooms, two half-bathrooms, a pool, and 446 feet of waterfront with two docks. There is also a guest house on the estate. The architectural design was led by Randall Stofft with interiors by Marc Michaels Interiors.
The couple listed the property for $17.9 million in January and it went under contract in May.
This sale adds to a series of high-value transactions in Gulf Stream, an area known for its luxury homes and infrequent sales activity north of Delray Beach. In September, the Ganger family sold the oceanfront Vanderbilt estate called Miradero for $21.6 million after one month on the market; this historic property was originally designed by Maurice Fatio for Lila Vanderbilt Webb. That same month, attorney Henry Rosen bought an oceanfront home for $22 million from Bon Property LLC—a Delaware entity managed by Aogán O hAoláin—who earlier this year also managed the sale of a Highland Beach mansion for $28.5 million through Bos Property LLC.
