Demetrios Patrinos, the owner of a Pittsburgh-based painting contractor, sold an oceanfront Gulf Stream home for $21 million.
Demetrios and Kathleen Patrinos sold the house at 3435 North Ocean Boulevard to Bon Property LLC, a Delaware entity. The true buyer is unknown.
Candace and Phillip Friis of the Corcoran Group represented both the buyer and sellers in the deal.
Demetrios Patrinos heads his family’s painting contractor, Patrinos Painting and Contracting Company. The Pittsburgh-based firm does large-scale projects around the country, including the Pittsburgh Steelers Stadium, the Los Angeles Convention Center, and the Schottenstein Center at Ohio State University, according to its website. He is also a chair of the Andy Warhol Museum in Pittsburgh.
The couple bought the Gulf Stream home for $7 million in 2013, property records show. The 5,800-square-foot house was built on 0.9 acres in 1991, and includes five bedrooms, five bathrooms, one half-bathroom, a library and a pool, according to records and the listing. The property spans 100 feet of oceanfront.
The Patrinos listed the house for $23 million in April, Redfin shows. The North Ocean Boulevard’s home central location was a big draw for her buyers, Candace Friis said.
It marks the priciest deal in Gulf Stream so far this year. Friis said homes in the small enclave rarely change hands, and “demand far outpaces supply.” She is currently pursuing more listings in the tight market.
In July, the estate of a late Capital One executive sold her oceanfront Gulf Stream home, once part of Lila Vanderbilt Webb’s Miradero estate, for $16.7 million. Also last year, baking supply boss James Sausville bought an oceanfront estate for $32.5 million. In 2022, hedge funder Michael Rashes sold an oceanfront compound for $29 million.