Golden Beach mansion of late developer and entrepreneur lists for $24M

577 Ocean Boulevard and Ralph Arias (Sotheby’s)

The Golden Beach mansion of late real estate developer Sidney Levy is hitting the market for $23.95 million.

Levy’s wife, Sandra Levy, owns the 10,000-square-foot home at 577 Ocean Boulevard. Sandra, a philanthropist who has raised millions of dollars for the Diabetes Research Foundation, said she’s looking to downsize in Golden Beach.

Ralph Arias of One Sotheby’s International Realty is the listing agent. The 1-acre oceanfront property includes 150 feet of water frontage. The 1930s Mediterranean-style home has “good bones,” Arias said. It includes grandfathered features that can no longer be built, such as a large pool close to the ocean, he said.

Levy called her husband “a real entrepreneur,” who was an early investor in discount malls. He also invested in single-family homes and apartment buildings. “At one point he owned more square footage in discount malls than anyone in the U.S.,” she said.

Sidney led his Levy Development Company, and owned one of the largest automotive truckers in the country, as well as a scrap metal company in Wisconsin, a textbook publishing firm, and an oil and gas drilling company, according to his obituary from 2018. He also owned the copyright and trademark to “Pepito,” a Hispanic folklore character.

The couple purchased the Golden Beach house in 1980 for just under $900,000, records show.

Golden Beach, a small oceanfront town north of Sunny Isles Beach, has been home to Tommy Hilfiger, photographer Bruce Weber, Tom Joyner and Ricky Martin. In June, the house at 125 Ocean Boulevard sold for $7.2 million. Last year, the mansion at 387 Ocean Boulevard sold for $19 million.

If sold at its asking price, Levy’s house would set a record, surpassing the $22.5 million sale of 317 Ocean Boulevard in 2014, which Arias helped broker.

Write to Katherine Kallergis at kk@therealdeal.com

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from The Real Deal Miami & Miami Florida Real Estate & Housing News | & Curbed Miami - All https://therealdeal.com/miami/2020/08/06/golden-beach-mansion-of-late-developer-and-entrepreneur-lists-for-24m/
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