3565 North Ocean Boulevard, Gulf Stream and J&K Ingredients’ James Sausville (J&K Elements, Google Maps)
The CEO of a baking goods supplier flipped an oceanfront estate in Gulf Stream for $31.5 million.
Data present 3 trusts linked to James Sausville, with Owen Mester signing as trustee, bought the home at 3565 North Ocean Boulevard to PBH Land Have confidence in #2401-3432-00.
Metropolis National Bank of Florida signed on behalf of the consumer, listing the buyer’s mailing address as 44 Skymeadow Generate, the Stamford, Connecticut address of Sherrod Krabbe. Krabbe is a descendent of the prominent Van Wyck household of New York, according to obituaries for Kathleen Grant Van Wyck Brown Tanham and her brother, Peter Van Cortland Van Wyck. Tanham died in September, and her obituary identifies Krabbe as her son.
The Van Wycks had been early Dutch settlers of the New York location. Robert Anderson Van Wyck was the initially mayor of New York after the 5 boroughs have been united, and the expressway connecting the town to JFK Worldwide Airport bears the family’s name.
Sausville is president and CEO of J&K Elements, a Paterson, New Jersey-based mostly supplier of baking components. The Chicago-primarily based private fairness company Main Industrial Associates acquired J&K Components for an mysterious price in 2020, in accordance to a press launch. “[J&K Ingredients] serves some of the premier and most demanding worldwide bakery prospects, as perfectly as hundreds of other industrial bakeries and bakery merchandise wholesalers and distributors,” the press release claims.
Candace Friis of the Corcoran Team represented both equally the consumer and the seller.
Documents clearly show this is the third sale of the estate in considerably less than two decades. James and Kimberly Caccavo purchased the home for $14.9 million in May 2021, the year the house was developed, and flipped it to Sausville for $27.5 million in May perhaps 2022. Sausville’s gain in the most up-to-date sale equates to $4 million right after 8 months of keeping the assets.
The .8-acre estate consists of a 6,100-square-foot most important dwelling and a a single-bedroom, just one-toilet visitor property with a residing home and kitchenette, data and the listing exhibit. The most important home spans five bedrooms, six bogs, and two 50 percent-bogs, records present. Built by architect Randall Stofft and highlighted on HGTV’s Best Household 2022, the house features a 750-bottle wine area and 110 ft of oceanfront, in accordance to the listing.
Krabbe also purchased a penthouse at the Palm Seashore Hampton for $8.5 million in August, the Palm Seashore Everyday News noted. Friis just lately stated the condominium, unit 501S at 3100 South Ocean Boulevard, inquiring $8.7 million for the 5,600-sq.-foot, four-bedroom, four-toilet penthouse.
Gulf Stream, a small island town just south of Palm Seashore and Manalapan, is acknowledged for its luxurious oceanfront estates.
In September, a hedge funder sold an oceanfront compound for $29 million. In March, top rated brass at Elliott Administration flipped an oceanfront estate for $26.7 million.
In August, a previous Olympic sailor sold a waterfront estate for $16.5 million, location a price tag document for non-oceanfront gross sales in Gulf Stream.
