The Carlisle senior living facility in Lantana has changed hands and will undergo major upgrades, according to Max Newland of Ocean Ridge, part of the purchasing team. This will mean renovations to every unit, he said. Photo provided
By Christine Davis
Eight years after its last sale, the Carlisle Palm Beach at 440 E. Ocean Ave., Lantana, has changed hands again. But this time the senior living facility sold for $67 million — $10 million less than the complex went for in 2017, when its sale price was $77.2 million.
The new owners are planning an extensive renovation.
New York-based Cerberus Capital Management and Ocean Ridge-based Newland Real Estate Capital purchased the 291-unit Carlisle in a deal recorded in April. The seller was Palm Beach FL Senior Property, care of Southlake, Texas-based Altus Group.
Newland Real Estate Capital is led by Max Newland, who previously led senior living investments for Kayne Anderson Real Estate.
One block west of the beach, and cater-corner from the Eau Palm Beach resort, the 235,071-square-foot Carlisle was built on the 7.15-acre site in 1999.
Under the new ownership, Liberty Senior Living will be the property manager. The new owners plan to retain the staff.
“I acquired the building through a partnership that includes myself, Liberty and Cerberus Real Estate,” Newland said. “We are going to renovate 100% of the units and common areas that were not finished by the prior owner. We will be swapping old windows with an impact-rated product, upgrading elevators, repainting the exterior. We are reimaging the branding, too. The Carlisle has great bones and offers some of the largest units in the market. Its location and the market warrant a much nicer product, though.”
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Casa Palm Tranquila Capital LLC, managed by Mike Gandolfo, bought the eight-bedroom, 12,421-square-foot oceanfront home at 2367 S. Ocean Blvd., Highland Beach, in March for $28.5 million.
The seller was Bos Property LLC, managed by Aogan D. Ohaolian. The house was built in 2001 and features a summer kitchen, pool, tiki hut, bar and a balcony. The home previously traded for $22 million in 2021. The seller was represented by Candace and Phillip Friis of The Corcoran Group. The buyer was represented by Jonathan Postma of Coldwell Banker Realty.
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A trust in the name of David P. Pfeil, founder of Texas-based Southwest Consulting Associates, paid $15 million for a 12,786-total-square-foot estate at 4217 S. Ocean Blvd., Highland Beach. The sellers were real estate broker Robert C. Patek and Bianca Mercedes Patek, who were represented by Steve Gerken of Highland Beach Realty.
The buyer worked with Michael O’Connor and Nicholas Malinosky of Douglas Elliman. The home, which was built on the 0.42-acre site in 1993, last traded for $2.8 million in 1998.
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ABC JS Auto Imports II LLC, managed by Christina M. Ribaudo of Las Vegas-based Superstore Auto Group, sold the 4.4-acre site at 2419-2613 N. Federal Highway, Delray Beach, to Ultra Luxury Townhomes LLC, managed by Joseph Rocco, for $15 million in March.
The deal included $7 million in seller financing. The land previously sold for $10 million in 2022. Ocean Delray Real Estate represented the seller.
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The three-bedroom, 6,037-square-foot condo, unit No. 701, at 1000 S. Ocean Blvd., Boca Raton, sold for $13 million. The property was sold by Barry M. Smith, as trustee for the Barry M Smith Trust, with his wife, Neuza Pereira de Oliveira, who were represented by Douglas Elliman agent Senada Adzem. Smith bought the condo in 2013 for $7 million. The buyer, a Delaware LLC, 1000 Ocean Blvd 701, was represented by Jonathan Postma, an agent with Coldwell Banker Realty.
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A six-bedroom, 10,033-square-foot home with 123 feet of water frontage at 2525 Spanish River Road, Boca Raton, recently sold for $10.95 million.
The seller was Carol A. Morse, who bought the property in 2008 for $10.3 million. The buyer is Parkwood Trust Co. as trustee of the 2001 Laurel Court Trust for the benefit of Anthony M. Beyer.
The home was designed by architect Carlos Martin and built by Frankel Estate Homes with interiors designed by Marc Michaels. Premier Estate Properties’ D’Angelo Liguori Team represented both sides in the deal.
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The nine-story Glass House, 280 E. Palmetto Park Road, Boca Raton, with 28 condominiums, broke ground in downtown Boca Raton with completion expected in the second quarter of 2027.
With units ranging from 2,504 to 3,865 square feet and priced $2.6 million to $7 million, it’s being constructed by 280 E Palmetto Park Road LLC, managed by Adam Gottbetter, Anthony Perera and Noam Ziv.
Delray Beach-based Kaufman Lynn is the general contractor and West Palm Beach-based Garcia Stromberg is the architect. Douglas Elliman is leading the sales efforts for the project.
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Facialworks, a facial bar and spa founded in 2013, opens it first Florida location in May at Mizner Park, 439 Plaza Real, Boca Raton. The brand operates five facial spas in Southern California. At the new location, in addition to having five facial bar chairs and two private treatment rooms, Facialworks sells products from its skin-care line created by Meghan Gilboa, master esthetician and Facialworks co-founder. For more information or to book an appointment, visit thefacialworks.com.
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Snitch, a Boca Raton-based startup launched in late March, offers residents a way to report local code violations.
Addressing concerns stemming from Florida’s 2021 Senate Bill 60, which prohibits anonymous code enforcement complaints, Snitch can file accurate verified complaints from users under its name for a low fee, ensuring compliance with the law while protecting users’ identities.
“We’re not tattling — we’re fixing what’s broken, one report at a time,” said Chaz Stevens, who founded the Z Production Group that’s behind the company.
For more information, visit JoeSnitch.com.
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The Empire Development Group celebrated the opening of its new headquarters at 374 E. Palmetto Park Road, Boca Raton, on April 17. The company’s founder and CEO, Marc Elkman, has already built and successfully exited businesses such as Fresh Meal Plan and 10 Orangetheory Fitness locations. With Empire Development Group, Elkman has self-capitalized and built more than $100 million in real estate inventory in just 24 months.
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The Delray Beach Downtown Development Authority and the Downtown Merchant & Business Association hosts a Mother’s Day Orchid Giveaway through May 10. Shoppers who spend $200 or more at downtown businesses from May 1 to May 10 can receive a complimentary phalaenopsis orchid and enter to win a gift basket.
For shoppers to pick up an orchid, they need to bring their receipts, between 11 a.m. and 4 p.m. May 8 to May 10, to any of the following locations: A Little Wyld at 157 NE Second Ave., Avalon Gallery at 425 E. Atlantic Ave., and KoKo Delray Shoe Store at 1049 E. Atlantic Ave.
Receipts from restaurants, Green Market vendors, hotels or food/beverage venues are not eligible. For more information, visit downtowndelraybeach.com/mothersday.
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The Boca Chamber will host its 2025 Business Awards Luncheon on June 6 at the Boca West Country Club. Three leaders will be honored for their innovation, leadership and community impact.
Business Leader of the Year is Jason Aube, market president for Palm Beach County at Truist Bank. Business of the Year is The Boca Raton resort. Small Business Leader of the Year is Laureen Pannullo, owner of Confident Bookkeeping LLC.
To attend the luncheon or for sponsorship opportunities, visit web.bocaratonchamber.com/events/BusinessAwards%20Luncheon-10633/details.
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Heather Abbruzze has become a partner of Slatkow & Husak Public Relations. She oversees a team of five full-time and two part-time employees with managing partner Kelly
Husak, while helping to expand the company’s growth and client base. Abbruzze joined Slatkow & Husak PR as an account manager in 2013. She became the firm’s vice president in 2018.
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The Boca Raton-based home security company ADT appointed Fawad Ahmad as its chief operating and customer officer. Previously, Ahmad was State Farm’s chief strategy and transformation officer. ADT also named Omar Khan as its new chief business officer. Previously, Khan was senior adviser at Boston Consulting Group. These appointments follow the retirement of ADT’s chief operating officer, Donald Young, who will move to an adviser role during the transition.
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Richwagen’s Bike & Sport, which has served generations of customers, celebrated its 65th anniversary on April 22.
The family-owned business, at 298 NE Sixth Avenue, Delray Beach, sells everything from children’s bikes to high-end carbon fiber racing models, apparel and repair services. Also offered are daily and weekly beach cruiser rentals, along with high-performance road bike options.
Albert Richwagen, operating manager, says working at the store on northbound Federal Highway is a labor of love.
“Delray Beach is home,” he says. “We’re proud to serve this community and look forward to continuing the legacy with great service, fair prices and expert knowledge.”
The business supports local nonprofits such as the Achievement Centers for Children & Families and plays a role in shaping Delray’s future. Richwagen serves on the Transportation Planning Agency Board, advocating for safer streets, bike lanes, and pedestrian-friendly infrastructure.
The Richwagen family also operates Delray Beach Watersports Rentals on the south end of the beach.
Downtown Development Authority Executive Director Laura Simon, a Delray native, says Richwagen’s and other legacy businesses are the heart of downtown. “They carry the story of who we are,” she says.
Richwagen’s is open Monday to Friday, 9 a.m. to 5 p.m., and Saturday, 9 a.m. to 4 p.m. Visit delraybeachbicycles.com.
Send business news to Christine Davis at cdavis9797@gmail.com.
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