Palm Beach Daily News

Discussion in 'The Howard Stern Show' started by Nemo, Jan 2, 2014.

  1. Nemo

    Nemo Beer Can Thick Gold

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    http://www.palmbeachdailynews.com/news/news/local/summer-home-deals-hottest/ncZyJ/

    Posted: 10:17 a.m. Thursday, Jan. 2, 2014

    2013 ANALYSIS
    Summer home deals hottest
    Sales that exceeded $15M mark have since dwindled.





    By Darrell Hofheinz

    Daily News Real Estate Writer

    Where have all the big deals gone?

    That’s the question you might ask after tallying up Palm Beach residential sales over the past 12 months. After all, only one transaction has been recorded at more than $15 million since the end of August. By any estimates, that’s an anemic denouement to a busy summer of sizable deals that tightened the island’s already-strapped housing inventory.

    The warm-weather sales frenzy kicked off in May, when radio shock jock Howard Stern used a trust to buy a North End oceanfront estate at 601 N. County Road for a recorded $52 million — the largest single sale of the year. Martin and Diane Trust were the sellers in the private deal, put together by broker Lawrence Moens of Lawrence A. Moens Associates.

    Also in May, a record was set for a condominium sale in Palm Beach, when Lee and Laura Munder sold, for a recorded $17.45 million, Penthouse 6A in Il Lugano at 300 Seminole Ave. The buyer was a Delaware limited-liability company linked to the Tisch family of Loews Corp. Agent Jim McCann of the Corcoran Group was the only real estate agent who would confirm any involvement in the private sale.

    Both of those deals were followed almost immediately by another headliner: the June sale of a never-lived-in, 27,000-square-foot lakefront chateau developed on “spec†by builder Dan Swanson at 1220 S. Ocean Blvd. The recorded $42 million it fetched was enough to take the property out of foreclosure — even though it was $32 million less than what the developer had been asking for the property.

    The buyer was a trust associated with seasonal islanders Charles “Charlie†B. and Dr. Ann L. Johnson. Listing agent McCann acted opposite agent Stephen Ploof of Linda A. Gary Real Estate in the deal.

    Spring deals

    But since summer, sales of property priced in the stratosphere have all but evaporated. Even so, the first week of the new year seems a good time to review what changed hands during the past 12 months on the island. So here’s a sale-by-sale recap of single-family deals that hit the $15 million mark, as well as a couple of condo sales topping $11 million. The prices quoted here are the ones recorded with the deeds by the Palm Beach County Clerk & Comptroller’s Office.

    In March, the Banyan Road Trust bought a spec house at 102 Banyan Road for $20.23 million from investor and developer Peter J. Callahan. Agent Paula Wittmann of Fite Shavell & Associates handled both sides of the sale. Wittmann Building Corp., headed by her husband, Paul Wittmann, was the builder.

    In April, a limited-liability company associated with Linda and Steve Horn sold historic Villa Today at 260 Via Bellaria for $15 million to Martin T. and Toni Sosnoff. The deal was private.

    April also was the month that three entities controlled by Fred Latsko sold 757 Island Drive for $17.5 million to a trust linked to Thomas A. and Eugenia “Jeannie†Tisbo. Linda A. Gary Real Estate handled both sides, with Linda Gary representing the seller and agent Susan Furman acting for the buyers.

    Summer sales

    In June, landmarked Casa Eleda changed hands for $15.98 million. Facing the ocean at 920 S. Ocean Blvd., society architect Maurice Fatio’s landmark is known locally as “The Ham-and-Cheese†because of its exterior decorative banding. A trust in the name of Charles “Chuck†E. Becker sold it to Penelope and Marion Hugh Antonini, who are carrying out an extensive renovation. McCann was the listing agent, and he and his Corcoran colleague Alison Newton represented the buyers.

    Also in June, three adjacent vacant lots, totaling nearly 2 acres on Maddock Way, sold together for $24.12 million: 304 Maddock Way fetched $9.21 million; an adjacent non-addressed lot, $9.21 million; and 302 Maddock Way, $5.7 million. Moens not only represented the pair of related Delaware limited-liability companies that bought the lots but also acted for two Florida LLCs that sold the two off-the-market lakefront parcels.

    Agent Jim McCann of the Corcoran Group, meanwhile, had listed landlocked 302 Maddock Way for its sellers, Jeffrey and Frances Fisher.

    In August, Robert L. and Linnette Miller sold oceanfront Vita Serena at 105 Clarendon Ave. and its adjacent guesthouse at 824 S. County Road for a combined $17.41 million via a two-deed deal. The buyer was a trust linked in property records to Charles “Chuck†Schumacher. Moens, who had listed the property for sale, also acted for the trust.

    Wrapping up the year’s biggest deals, Bruce L. and Sandra Hammonds in December sold their lakefront estate at 1275 S. Ocean Blvd. for $28.5 million to a Delaware limited-liability company linked to Jeffrey Lurie, majority owner of the Philadelphia Eagles. Agent Cristina Condon of Sotheby’s International Realty handled both sides of the deal.

    The condo scene

    In addition to the Munders’ deal, the island’s condo market racked up a couple of other eye-popping sales during 2013. As part of the deal in which Stern and his wife Beth Ostrosky bought their new home, Moens moved the sellers into a condo he had listed at Two North Breakers Row. The Trusts paid $11.95 million for Unit S-34 and its cabana in May — a record-setting price for an oceanfront apartment in Palm Beach and the second-highest amount ever paid for any condo here. The Trusts bought their condo from Allan Green and his wife, Hana.

    Then, in September, another sale in the same building, recorded at $11.33 million, became the island’s second-highest-dollar oceanfront-condo deal ever. Laurie Anne Simpson sold Unit N-44 to former U.S. Ambassador Nicholas Frank Taubman. Broker Christian Angle of Christian Angle Real Estate represented Simpson in the off-the-market sale, opposite Paulette and Dana Koch of the Corcoran Group.

    Little is pending

    The number of single-family deals above $15 million has dwindled of late, but courthouse records show that 2013 was still a busy year for sales in the less-rarified-but-still-hefty range: In all, at least 26 single-family-home deals were recorded between $7 million and $13 million. But just six of those occurred between Sept. 1 and the end of the year.

    And there’s nothing on the horizon that indicates any major shift soon. According to the Palm Beach Board of Realtors Multiple Listing Service, as of this week, the highest-priced residential properties under contract on the island are listed between $7 million and $8 million — and there are only three of those. Of the 19 remaining so-called “pending†sales, 11 are priced at less than $4 million.

    But, hey, it’s the new year. And, as they say in Palm Beach — where wallets are as deep as the ocean and off-the-market deals are always simmering — anything is possible.
     
  2. Lou Skunt

    Lou Skunt ____________________ Banned User

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    I have a plan for the redistribution of wealth. It's a little harsh though, and I haven't exactly worked out the redistribution part.

    [​IMG]
     
  3. crazypreacher

    crazypreacher Hey yo

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    Mansions by Moens. Whaddya got, some re/max?
    [​IMG]
     
  4. datchguy

    datchguy New Member Banned User

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  5. Bye You!

    Bye You! The n word guy Gold

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    :rofl:

    I know that's public record and all, but wow those people down there sure are nosy.
     
  6. harlock

    harlock ancora imparo Gold

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    dicknosy
     
  7. landfill

    landfill Well-Known Member

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    [​IMG]
     
  8. crazypreacher

    crazypreacher Hey yo

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    :hhh:
     
  9. Lou Skunt

    Lou Skunt ____________________ Banned User

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    Disgusting right?
     
  10. Bye You!

    Bye You! The n word guy Gold

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    Yes. And the $52 million one is the most disgusting. It really is.

    They haven't even been there yet! They paid well above market value. Why? So they could be in this article as the biggest spenders? What gives?

    There's something to this and I can't figure it out. No way Howard Stern spends $52 thousand, let alone million, on something without a MAJOR ulterior motive.
     
  11. broccoli rob

    broccoli rob thanks for the memories DW3

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    be HONESST NIGGA, dem shooz are from straight out the BIN!!!
     
  12. SEGA

    SEGA Permanent Vacation VIP

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    [​IMG]
     
  13. isabella

    isabella VIP Extreme Gold

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    Bye-you......I don't get it either. In an area of vulgar excess, the ostrsky- stern's paid an ungodly amount of money for what looks like the usual ostentatious piece of shit McMansion. Is it possible he has no intention of living there but is looking for a way to flip it as a tax loss?
    It's very suspect, and I don't put anything past that greedy turd.
     
  14. Lou Skunt

    Lou Skunt ____________________ Banned User

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    He definitely has a plan. The guy is wearing 7 year ode swim trunks. He didn't make a 52M purchase because he wanted to.
     
  15. Mulletude

    Mulletude I'm Big In The Hate Club, Ya Know VIP

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    "I have a mansion,
    Forget the price.
    Ain't never been there,
    They tell me it's nice." -Walsh, J.
    "Life's Been Good"
     
  16. Ruffypup

    Ruffypup Well-Known Member

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  17. Nemo

    Nemo Beer Can Thick Gold

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    [video=youtube;LGz2uO3ZpoM]http://www.youtube.com/watch?v=LGz2uO3ZpoM[/video]
     
  18. JameGumb

    JameGumb We're all out of toner!

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    They forgot to add that you must bring a bag of oats.and baby carrots with you as a gift.
     
  19. Lou Skunt

    Lou Skunt ____________________ Banned User

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    :punk:
     
  20. FCCstandards

    FCCstandards Non-Essential Salooner VIP

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    I hope they lose their shirts on it!