Treo's Halfen Sells Golden Beach Spec Home for $69.5M, Buyer Hidden
Treo's Ricardo Halfen sold 255 Ocean Blvd in Golden Beach for $69.5M, about 20% under the original ask, to a Delaware LLC. County records had no deed yet.
A company managed by spec developer Ricardo Halfen’s Treo sold the oceanfront estate at 255 Ocean Blvd in Golden Beach for $69.5 million in an all-cash deal, roughly $19 million and about 20% below the $88.5 million it first asked, according to The Real Deal. The buyer is Meridian Coast LLC, a Delaware entity that does not disclose who is behind it.
Why it matters
Halfen’s seller entity, 255 OB LLC, bought the lot in 2021 and built the 17,500-square-foot house on spec. The exit shows the top of the Golden Beach market clears, but only after the price comes down. The house listed in February at $88.5 million with Douglas Elliman’s Dina Goldentayer, and the last ask was $79.5 million.
The buyer is the other story. A Delaware LLC gives no name, no source of funds and no signal about whether this is a primary residence or a trophy hold. For developers pricing ultra-luxury spec, an anonymous cash buyer at a 20% discount is the comparable to plan around.
The numbers
- Sale price: $69.5 million, all cash, per The Real Deal.
- Original ask: $88.5 million in February. Last ask: $79.5 million.
- Seller’s cost: 255 OB LLC paid $10.7 million in 2021. Our pull of the Miami-Dade Property Appraiser record shows a $10,656,000 warranty deed dated March 30, 2021, recorded in Official Records Book 32437, Page 0136.
- Gross spread over the lot price: about $58.8 million before construction, carry and commissions, which are not disclosed.
- The house: 17,500 square feet, seven bedrooms, 12 bathrooms, on 0.7 acre with 100 feet of waterfront, a guest house, pool and spa.
What’s next
We checked the Property Appraiser on September 29 and it still lists 255 OB LLC as owner, with no deed to Meridian Coast LLC and the 2021 sale as the latest entry. The deed and documentary stamp tax will show the recorded price and who signs for the buyer once it posts to the Miami-Dade Clerk. Watch for that filing and for any Sunbiz or Delaware disclosure that names a principal.
More coverage of the county is on our South Florida hub.
On the record
What we checked ourselves, and where you can check it too.
- Public recordMiami-Dade Property Appraiser still lists 255 OB LLC as owner of 255 Ocean Blvd, with the March 30, 2021 deed at $10,656,000 as the latest saleView the record on apps.miamidadepa.gov
Sources
- The Real DealRicardo Halfen's Treo Sells Miami-Area Home For $70 Million
- Miami-Dade Property AppraiserFolio 19-1235-003-0250, 255 Ocean Blvd, Golden Beach