Stefan Soloviev Exits Delray Beach for $21M
Key Takeaways
- •Stefan Soloviev sold two adjacent Delray Beach homes for $20.5 million total.
- •John Davie paid $15 million for the larger 8,500-square-foot waterfront estate.
- •Soloviev earned over $12 million profit from his 2020 and 2023 purchases.
Real estate billionaire Stefan Soloviev has completed the sale of two adjacent waterfront properties in Delray Beach for a combined $20.5 million, marking a profitable exit from the luxury South Florida market.
The larger transaction involved the sale of 963 Eve Street, an 8,500-square-foot residence with eight bedrooms situated on a rare 0.8-acre point lot. John Davie, founder and CEO of food service technology company Buyers Edge Platform, along with his wife Ana Davie, co-founder of the Davie Family Foundation, acquired the property for $15 million.
The expansive estate features 450 feet of waterfront access along the Intracoastal Waterway, complemented by recreational amenities including a full-size football field, basketball half-court, swimming pool, and spa facilities. The unique point lot location provides panoramic water views rarely available in the area.
Simultaneously, Soloviev sold the neighboring property at 964 Eve Street for $5.5 million. This 3,500-square-foot home contains four bedrooms and sits on a 0.2-acre lot with its own pool, home office, and fitness facility. Both transactions involved the same buyer group, creating a unified compound.
Coldwell Banker's Jonathan Postma handled the seller representation, while Compass agents Roxanne Chirico and Holly Meyer Lucas represented the purchasing family. According to Chirico, the buyers intend to maintain both residences as a single family compound, with the outdoor spaces serving as the primary attraction.
Soloviev's investment returns proved substantial. Property records indicate he purchased the larger home for approximately $5 million in 2020 and acquired the smaller adjacent property for $3.4 million in 2023, generating combined profits exceeding $12 million.
The properties sit within Delray Beach's exclusive Tropic Isle neighborhood, a man-made island community overlooking the Intracoastal Waterway. While these sales represent significant transactions, oceanfront properties in the area command even higher premiums, exemplified by developer Mark Pulte's $59 million spec mansion sale last October.
As heir to the late New York real estate magnate Sheldon Solow, Stefan Soloviev restructured his family's holdings following his father's 2021 death. He consolidated Solow Building Company and Solow Realty into the real estate division of the newly formed Soloviev Group, which maintains diverse investments spanning hospitality, transportation, railroads, agriculture, and ranching.
The Soloviev Group's South Florida presence extends beyond residential holdings. In 2023, the company invested $32 million in a five-property commercial portfolio in Delray Beach, demonstrating continued confidence in the region's growth potential. The company's broader portfolio includes significant commercial properties along West 57th Street in Manhattan.
