Couple who sold Howard Stern their house....

Discussion in 'The Howard Stern Show' started by Nemo, May 26, 2013.

  1. Nemo

    Nemo Beer Can Thick Gold

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    ......pays recorded $11.95M for apartment.

    http://www.palmbeachdailynews.com/n...-row-sale-sets-oceanfront-condo-record/nX3hc/
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    Martin and Diane Trust, who earlier this month sold their beachfront estate for $52 million to radio shock jock Howard Stern, have bought a condominium and cabana at Two North Breakers Row for $11.95 million — a record-setting price for an oceanfront apartment in Palm Beach and one of the two most-expensive condos ever sold here, according to property records.

    Real estate developer Allan Green and his wife, Hana, sold the Trusts their four-bedroom, direct-ocean apartment, Unit S-34, and its poolside cabana, according to the deed recorded Tuesday by the Palm Beach County Clerk’s office.

    The apartment is in the middle of the south building, one of two structures that house the 48 units of Two North Breakers Row. Offering direct east and southeast ocean views, the condo has 3,322 square feet of living space, inside and on its balconies, according to property records.

    The deal was brokered on both sides by Lawrence A. Moens of Lawrence A. Moens Associates, who had listed the condo for sale at $13.8 million in late January, according to the Palm Beach Board of Realtors Multiple Listing Service.

    Moens, who declined to comment on the condo deal, also orchestrated the private sale, recorded May 15, of the Trusts’ house at 601 N. County Road, which presides over 3.25 acres with about 290 feet of beachfront. Moens won’t discuss that transaction or identify the parties involved. Stern hosts The Howard Stern Show on Sirius XM Radio and is a judge onNBC TV’s America’s Got Talent.

    The Greens, who also have a longtime home in Mamaroneck, N.Y., had paid the late Helen Boehm $4.2 million for the Breakers Row condo in September 1998, property records show. They subsequently carried out an extensive renovation.

    Agent Carole Koeppel of Sotheby’s International Realty acted on the Greens’ behalf when they bought the condo 14 years ago but said she wasn’t involved in last week’s sale. She said the price it fetched likely reflects the realities of the island’s real estate market, where better-quality properties are hard to find.

    “I think that people who are qualified are willing to pay for what they want, because our inventory is so low. It’s really about supply and demand,†Koeppel said. “The market is picking up, and people are waking up. It’s very exciting to see this kind of transaction. I think it’s great for our market.â€

    The Breakers Row sale marks the second-highest-dollar condo transaction in Palm Beach history and follows on the heels of the deal that earned the top spot — the sale of No. 6A in Il Lugano, recorded May 15 for $17.45 million. That 5,798-square-foot lakefront penthouse at 300 Seminole Ave. was sold privately by Lee and Laura Munder to a Delaware limited liability company linked to the Tisch family of Loews Corp. Agent Jim McCann of the Corcoran Group said he took part in the Il Lugano sale, although it was unclear whether any other real estate agent or agency was involved.

    The Il Lugano sale broke the island’s condo-price record previously set when the Munders bought their penthouse for $12 million in 2008.

    Although the apartment in Two North Breakers Row is smaller than the Il Lugano condo, its price per square foot is higher, when comparing the living space inside and out recorded by the county. The Breakers Row sale works out to $3,597 per square foot, compared to $3,009 in the Il Lugano deal.

    The Trusts have strong ties to New Hampshire. Martin Trust founded MAST Industries in 1970 and grew it into one of the largest international apparel producers in the world; the company was acquired by the Limited Stores in the late 1970s. In 2001, Trust founded Brandot International Ltd. and serves as its president.

    The Greens could not be reached for comment, so it was unclear whether they plan to stay in Palm Beach. Courthouse records show they own no other property in Palm Beach County.

    Allan Green’s real estate development career includes his tenure at J.A. Green Development Corp., a family construction company founded nearly 70 years ago in New York and today run by his son, Daniel Green. Based in Greenwich, Conn., the company has completed extensive commercial projects over the years in New York — including the Great Neck region — and in the Dallas-Fort Worth area of Texas, according to the firm’s website.

    The Trusts could not be reached for comment.
     
  2. SEGA

    SEGA Permanent Vacation VIP

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    So much money been thrown around like water these days....
     
  3. SEGA

    SEGA Permanent Vacation VIP

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    And what an ugly looking apartment complex that is.
     
  4. 1Vegasgirl

    1Vegasgirl Well-Known Member VIP Gold

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    3300 square feet is a nice size for 2 people.
     
  5. tired

    tired Well-Known Member

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    location location
     
  6. unclefreddy

    unclefreddy Well-Known Member

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    Community pool, but its possible they had to roll all that money into a new property for tax reasons.
     
  7. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    I don't understand this.

    $12 million for a dumpy condo on that property?
     
  8. Nemo

    Nemo Beer Can Thick Gold

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    A crazy few weeks for the Trusts.
    They had no interest in selling their giant mansion.
    Beth rings their doorbell with a bag of big black dildos and 52 million marbles.
    Yada....yada.....yada.....the Trusts are unpacking boxes at a shitty little condo down the beach.
    :lol:






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  9. reno

    reno VIP Extreme Gold

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    I wish Beth would ring my doorbell with 52 million marbles. She could own Casa de Reno. It's zoned for horses Too!
     
  10. Onehourphoto

    Onehourphoto Maverick Gold

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    Well Wiggy overpaid for his Eyesore on the Shore by $12 million. So it was free money to the Trust's as they were lsughing all the way to the bank.
     
  11. TaTa Toothy

    TaTa Toothy New Member

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    11 million for a Pepto Bismol condo in a colored dump like that? Rich people have no taste.
     
  12. skylarbrie

    skylarbrie VIP Extreme Gold

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    it was a speculative purchase, the buyer has a real expectation of a booming real-estate market
     
  13. BringBackJackie

    BringBackJackie Well-Known Member Banned User

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    That has to be some cabana
     
  14. Brokenbad

    Brokenbad Well-Known Member

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    Knock-knock-....Beth..........Heloooe, me and my husband,Howard Stern, want to buy your phenominoe house!

    Mr Trust..... WTF is a Howards Tern? It's not for sale. Go away.

    Beth.... Aoooooh com'mon. Howard Stern is my wonderfoe husband and by best friend! Hundreds of people know he's a serial radio talk show guy. Haven't you ever heard of Dial-A-Lesbian, anal-ring toss or bababooey-bababooey?

    Mr trust........ Please stop waving your large hands around, they're ruining the shrubbery.
    The house is not for sale. Go away before I call the police.

    Beth......... But Mr trust, I will pay you $12 million more than you want so you can buy a nice condo for a record setting price! Wowwwwww!

    Mr trust.......You got the money?

    beth........... Of course we do! Besides Howards radar show, and him being by best friend and a marvoelis lover, I hosted Mom Caves, Posh Pets and was a live audience member two or three times. Look it up.

    Mr Trust........ sold!
     
  15. Rufus

    Rufus Well-Known Member VIP

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    [​IMG]
     
  16. Getthepoisonout

    Getthepoisonout I regret my username

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    Wow, look at the size of those teeth, they are about twice as long as normal teeth.....and people make fun of Gary.
     
  17. joyceface

    joyceface Queen of Everything VIP

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    Please stop waving your large hands aroun they are ruing the shrubbery - lol :lmao:
     
  18. Thelma

    Thelma Well-Known Member

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    I really think that part of the story was floated by Howard - a couple of sites including Yahoo say the property was "never officially on the market" which could simply mean it was a "pocket listing" where the seller has a broker but the property is not listed in "conventional ways."
     
  19. jackieavenger

    jackieavenger Well-Known Member

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    Thanks that was really good! :iohi5::rah:
     
  20. Thelma

    Thelma Well-Known Member

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    Interesting Stern and Trust both paid "record-setting" prices for their properties ... Things that make you go "hmmm ..."