71 Curlew Street and James and Kimberly Caccavo (LinkedIn, Steelpoint Money Associates, Google Maps)
James and Kimberly Caccavo have had a active calendar year acquiring and advertising homes. The couple’s newest move was landing a Manalapan spec dwelling for $10.5 million.
James, founder of the private equity agency Steelpoint Capital Partners, and Kimberly, founder of Experience Your Grace, an e-studying service for ladies entrepreneurship, bought the home at 71 Curlew Street. The vendor was listed as an LLC named for the handle and managed by Stephen Varga, data show. Varga is a homebuilder, and the son of the late sculptor Frank Varga.
Nick Malinosky and Randy Ely of Douglas Elliman’s Randy and Nick Group represented each the buyer and the vendor in the deal.
Varga acquired the 50 percent-acre home for $1.9 million in 2020, documents display . He purchased the assets from the heirs of the Vassilaro & Son coffee empire –– recognizable as the espresso stocked in New York Metropolis coffee carts and diners, and served in the iconic “We Are Satisfied to Provide You” blue cups.
Varga tore down the current dwelling and created a 6,850-sq.-foot, 5-bedroom, 6-lavatory home that was accomplished this yr, records display. The household incorporates 150 feet of drinking water frontage, two 50 %-loos, and a four auto garage. Acquire of the home incorporates a membership to the nearby La Coquille Club at the Eau Palm Seaside Resort & Spa, the listing exhibits.
Varga mentioned he had many prospective buyers interested in the home, and instructed it executed effectively selling price-intelligent. He’s also stated he’s actively on the lookout for a different web site for a comparable challenge.
“They’re not building any more waterfront,” Varga stated, noting that prospective buyers want new development and water frontage in a industry exactly where people two factors are scarce.
The Caccavos also flipped an oceanfront estate in Gulf Stream for $27.5 million in June, almost double what they purchased it for the calendar year prior.
And they offered an oceanfront estate for $90 million final December, swapping it for an oceanfront assets in Highland Beach front for $34.7 million just a number of months later.
Manalapan, a rich enclave just south of Palm Beach front, has been property to some of the priciest revenue in Florida in latest a long time. In June, billionaire Oracle co-founder Larry Ellison purchased the historic 16-acre Ziff relatives estate for $173 million from fellow tech billionaire Jim Clarke.
A musical instrument maker purchased a Manalapan estate for $25.7 million previous August, just a number of months just after obtaining a property in Jupiter for $8.6 million.
