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10-year-old house on North Ocean Way brings $4 million

Posted On: 04-11-2016

By Darrell Hofheinz

Daily News Staff Writer

When it comes to choosing the right house, the right size matters.

And that’s what led John Reid to downsize from one house on the far North End to another. He closed late last week on a $4 million purchase of a four-bedroom house with a total of 5,317 total square feet at 1494 N. Ocean Blvd.

Agents Heather Bretzlaff of the Corcoran Group acted on his behalf in the sale. She joined husband and Corcoran colleague Craig Bretzlaff in co-listing the larger house Reid is vacating at 1558 N. Ocean Way. That one has 7,593 total square feet, which was fine when he bought it in 2011 as a vacation home to share with his sister, Jill Mullan, and her longtime partner, Andy Pedersen.

You can read about the North Ocean Way house in the On the Market story that appears in Home & Loggia today. Team Bretzlaff has it listed for sale at $10.695 million.

Built in 2006, Reid’s new home has four-bedrooms and occupies a lot of about a quarter-acre. That’s a big difference from his other house, which presides over a double lot measuring nearly three-quarters of an acre.

On the seller’s side of the negotiating table was agent Thor Brown of The Fite Group, who didn’t have to wait long to find a buyer for the house. He had listed it in January at just under $4.3 million for its owner, a limited liability company named Goodstein FLA LLC.

That entity, which paid $3.5 million for the house in 2007, is associated in property records with New York City real estate executive Martin Goodstein. He and his wife, Patricia, have ties to Manhattan and own a house at 215 Dunbar Road, property records show.

The house on North Ocean Boulevard was used by the Goodstein family as an investment property. It has an “open gourmet kitchen,” a large family room and an outdoor loggia with a built-in wet bar and a working fireplace, according to Brown’s listing.

A retired banker with the old Chase Manhattan Bank, Reid said this week he’s planning to carry out renovations at his new home. He’s got another item on his immediate agenda, however. In May, he and his fiancée, Maureen Champion, have a wedding planned.

 

 

Source: Darrell Hofheinz, April 11, 2016, Palm Beach Daily News

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