Private equity boss James Caccavo flipped his waterfront Manalapan home for $13.9 million.
Records show Caccavo and his wife, Kimberly Caccavo, sold the house at 71 Curlew Road to Drwelruc LLC, a Delaware entity. The true buyer is unknown.
Nicholas Malinosky and Michael O’Connor of Douglas Elliman represented both sides of the deal.
James Caccavo is the founder of Steelpoint Capital Partners, an Orlando-based firm that invests in technology, health care and media companies. Kimberly Caccavo is the founder of Face Your Grace, an online learning program for older women entrepreneurs.
The couple bought the Curlew Road house for $10.5 million in November of last year. Built as a spec home and completed in 2022, the 6,700-square-foot house has six bedrooms and seven bathrooms, property records show. It spans half an acre and has 178 feet of waterfront. The home includes a gym, a 162-bottle wine room, a pool and a 75-foot dock, according to the listing. It also includes a membership to the La Coquille Club in the Eau Palm Beach Resort & Spa.
The Caccavos listed the house for $16.4 million in November, Redfin shows. The sale price of $13.9 million marks a $3 million, or 32 percent, boost in value during the year that they owned the Manalapan home.
This isn’t the Caccavos’ first flip. In June of last year, they sold an oceanfront Gulf Stream estate to James Sausville, CEO of a baking ingredients distributor, for $27.5 million. It was an 85 percent markup from the $14.9 million the Caccavos paid for it in 2021.
Other recent Manalapan sales include a health tech boss’ July purchase of a $16.5 million 1.3-acre ocean-to-lake teardown. In April, another ocean-to-lake estate sold for $37 million, after first listing for $45 million a year prior.
Earlier this month, Nigerian oil mogul Onajite Okoloko sold an incomplete oceanfront megamansion back to his lender for $21.5 million following a foreclosure suit. Okoloko had initially planned to complete a 25,600-square-foot spec mansion on the 1.5-acre estate, and had it listed for $87.5 million.