Palm Beach Real Estate News & Events

By Darrell Hofheinz/Daily News Home and Loggia Editor

Free report — Information is power, say real estate agents Mimi Vail and Jason T. Corrigan of Fite Shavell & Associates. And toward that end, they’ve teamed up to produce a timely news-you-can-use newsletter packed with sales data gleaned from all of the brokers who use the Palm Beach Board of Realtors Multiple Listings Service.

Vail and Corrigan, a computer whiz, have been preparing the reports for several months and snail-mailing them to those who have asked for them. But the duo has lately mounted a campaign to build an email-distribution list of folks who want to get the free reports sent to them digitally — and anyone can request to be added.

Issued monthly, the report contains lists of properties that have sold, entered the market or gone under contract during the past 30 days, with a 60-day timeframe for some segments. The report also lists all properties listed for sale in the Palm Beach market.

The digital version also is interactive: Users can click on any property’s address and gain access to its corresponding MLS listing.

People can use the information in different ways. Vail and Corrigan say the report’s charts let users easily compare what properties have sold for, what price they were listed at and, just as importantly, how long they were on the market. The easy-to-grasp lesson, Vail says, is that properties priced correctly tend to move off the market more quickly than those that were overpriced, based on market realities.

“We want to show people why their home is worth that price,” Vail says. “We’re backing it up with facts. We have a very sophisticated market here — and everyone wants numbers.”

Right now, the report only chronicles the status of single-family homes, but a section on condo sales and listings is in the works, says Corrigan, who also helps out the board of Realtors with its computer 
databases.

Those who want to register for the mailing list can click the “Free Report” icon on the home page of HomesForSaleInPalmBch.com.

Florida Weekly

By Heather Purucker Bretzlaff

What is the difference between a SELLABLE property and a SAILABLE property? In real estate, it all begins with communication! Communication is the key in all aspects of our lives. In the real estate profession, it can be the most important factor in closing a transaction. Many real estate brokers make the mistake of not listening to their clients’ needs. They are so focused on the end result that they try to decide what is best for their client instead of taking the time to truly meet their needs by simply listening.

I recently had an exclusive listing located in an area that had two additional acres of land attached to it.

There was a beautiful, custom estate built in the early 1990s situated on one acre of land.

With more than 7,000 square feet in the main house and an additional 2,000 square feet in a guesthouse, it was a magnificent design that overlooked an amazing architecturally enhanced backyard with fountains, a zero entry pool, pergola areas, outdoor fireplace, TVs, full summer kitchen and several entertaining spaces. It allowed enough space to entertain at least 200 guests outdoors within the privacy of your own property. The other two acres, which were adjacent to the home, could be subdivided or remain with the estate.

Because the home was built in the 1990s, it was lacking the new Crestron system or some type of Smart Home system installed today in larger homes. With the touch of a button, these systems turn on lights, security and music throughout the home; most of them can even work from your iPhone no matter where you are in the world.

Each time I had a showing, I had to arrive about an hour before the showing to make sure I had the time to turn all the lights on, unlock doors, turn on the sound system, make sure all the fountains were in order and inspect the home.

I received a call from a well-known broker in the area wanting to show his clients the home. He told me that the most important factor to this client was that they could sell the additional parcel of land next to the home. This made me very excited because I had the only listing of this type in the area.

The day of the showing, I barely made it in time to turn on all the lights and make sure everything was working properly. I had a client earlier in the day and we ran behind schedule, which pushed back my entire day. I had to reschedule our last showing of the day to drive out and meet the broker, but I was fairly confident that this would be the right client for the property.

I was finishing turning on the music in the home when the broker arrived with his clients. We greeted, and I began to explain the history of the home and the uniqueness of the SELLABLE 2-acre parcel of land next to the home.

As I was in the midst of describing the home, the client walked directly to the rear of the living room, looked outside and said to the broker “You told me this land was SAILABLE.”

The broker replied: “It is SELLABLE. It is the only parcel in the area of its kind. What is the problem?”

The client said: “There is no boat. Where am I supposed to SAIL? Where am I supposed to dock my boat? On the grass?!”

Needless to say, it took everything in me to remain calm and pleasant, while I was trying to imagine how in the world the broker did not realize that his client wanted waterfront property! I was fuming mad!

The client wanted a waterfront property where he could put his sailboat, and the broker thought he wanted a parcel of land to sell!

I called the broker after they left the home. I was still angry and couldn’t believe I left another potential client, drove 40 minutes out of my way, turned on all the lights, music and now had to drive 40 minutes back after doing the same thing all over again.

Did this really just happen? How could you not realize your client wanted waterfront property?

Even worse, I had to go back and tell the owners of the property that the buyers really were not buyers. Additional pressure I did not need with the listing expiring soon.

A few days later, I received another call from the same broker. He wanted to show the property to another client who was referred to him from the client we showed previously. I was shocked, to say the least! I couldn’t believe that after that major mistake, the client would actually refer someone else to him.

I was hesitant and still angry that this had happened — yet I remained optimistic and went back out to the home. Turned on the lights, music, opened the doors on this perfect Florida day and pulled everything together in plenty of time.

The clients walked into the house, took a walk through the living room to the back yard. They looked at one another, smiled and said: “I am so glad our neighbors told us about this home after they saw it. They may be looking for water, but we are looking for privacy and plenty of space to entertain.”

Suddenly, my remaining anger quickly turned to true optimism, and I knew this was the right couple for the property. As it turns out, the clients looking for the “SAILABLE” property, went home and told their neighbors what a terrible experience they had looking at a beautiful home in the middle of nowhere. The neighbors were ecstatic over this news because it was exactly what they had in mind. They flew down from the Northeast specifically to see this home.

If you happen to be wondering what became of the clients looking for a “SAILABLE” property, they are still searching, but I am sure they will soon find their dream property as well. For now, their sailboat is safe at their primary residence up North, and they are looking forward to moving the boat here when the right property comes along. ¦

Heather Purucker Bretzlaff is a broker and Realtor Associate at Fite & Shavell Associates. She can be reached at 722- 6136, or at hbretzlaff@fiteshavell.com.

FLORIDA WEEKLY

By Heather Purucker Bretzlaff

A day in the life of a real estate broker is never typical and always exciting. Recently my workday began with a famous NFL football player and his wife. They were in town for a short time and were looking for their third residence. We were viewing $5 million to $7 million properties in secure communities.

They pulled up in their black Range Rover, with Junior in the front seat. Junior is their Golden Retriever. He is with them at all times. Personally, I love animals and especially dogs, but I’ve never seen two adults in the scenario I am about to describe.

We arrived at the first home and out jumps Junior. He ran across the beautifully maintained yard, hopped over the hedges, ran in between the recently planted New Guinea impatients (crushing them) and back to the car. “On to the next house” says the football player.

I looked at him and asked why. We have to at least walk in and view the interior of the home. “You may not like the looks of the exterior, but it has everything you asked for inside.” I say.

“That’s OK,” says the football player. “Can’t you see Junior is not happy? He didn’t even want to go to the front door. If Junior doesn’t like the home, then we don’t want to buy it.”

OK. I wasn’t aware until that moment that I was actually selling the Golden Retriever a house, NOT the famous football player and his wife. We viewed two other homes. Each home Junior had to walk through the house, sniff the furnishings and run through the yard. As we were finishing our tour of the second home in this luxurious gated community, he decided to jump in the pool and take a lap. “Oh look how cute, he loves it! This home is at the top of our list” says the wife. “But I think the pool is too small for Junior. I would like to add another 10 or 15 feet so he can do his laps. Will that be a problem?”

After viewing several other properties, the couple went back to the second home and is expanding the pool for Junior. I am now in the process of interviewing contractors for the couple … Or should I say Junior!

My next appointment of that day was with John White. John is 38, happily married and is excited about his baby due in May. He and his wife, Kim, are from Toronto and visited Old Palm the previous year. They had put in an offer on a home last year and were outbid by another buyer. Like many buyers at the time, they were surprised that there were multiple buyers for one property in the current market. As always, if there is a great home at a reasonable price, this is not uncommon.

John manages major hedge funds and travels all over the world. Over the past year he has contemplated purchasing a second home in California, Arizona and Florida. He is extremely sharp and to the point, knows what he likes and wants his broker to understand his criteria so there is no time wasted.

As I walked into the sales center to meet him, he was waiting in the conference room. laptop, iPad and phone all on the table, multi-tasking and still working. His driver had just dropped him off from the Miami airport. He was by himself since his wife is too far along in her pregnancy to travel.

The Whites’ price point is up to $2 million. The first home I brought him to was built in 2005, but already completely remodeled. As we walked in, there was opera music playing loudly in the background. The kitchen, with gorgeous white cabinets, is the focal point of the home. He is clearly confused, however, at the purple lights flashing in the top row of the cabinets, changing colors from purple to blue to green. John looks at me and rolls his eyes, and started laughing. The agent, very professionally, says, “The home was redesigned California style.” We then walked outside. Views of the 4th fairway are possibly the best views in the community.

Next I take him to a brand new model home. Just completed three weeks earlier and priced at $1,775,000. It does not have a golf-course view but has magnificent waterfalls in the backyard.

As you enter the home you see directly through the home to the backyard pool, spa and water features. He is still working. Texts coming back and forth, but he looks up for just enough time to say “beautiful.”

I can tell from his demeanor this is the house. It is very serene, but also clean and modern. After finally putting his phone away and inspecting every feature of the home closely, he tells me that he does not want to miss another opportunity and is ready to purchase. He picks up the phone and calls his wife, sends her photos and gets her blessing.

Now under contract, John is looking forward to closing in June, practicing his golf game and enjoying the Old Palm lifestyle with his wife and baby. ¦

Heather Purucker Bretzlaff is a broker and Realtor Associate at Fite & Shavell Associates. She can be reached at 561- 722- 6136, or at hbretzlaff@fiteshavell.com.

SPECIAL TO FLORIDA WEEKLY

This stunning waterfront estate offers a boat dock minutes from access to the Atlantic Ocean. The beautifully renovated home at 1695 Lands End Road in Manalapan features six bedrooms, 6.1 baths and 9,670 total square feet. The home offers a large kitchen with custom cabinets and granite countertops, nicely renovated bathrooms, a fireplace, elevator, high ceilings and floor-to-ceiling impact doors and windows. The huge master suite with a sitting area offers fabulous water views. For outdoor entertaining, the home features a pool with spillover spa, large patio and a summer kitchen. A free beach club membership to the LaCoquille Club located at The Ritz Carlton is provided. The home is listed at $4,490,000 by Fite Shavell & Associates. The listing agent is William Quigley, 561-346-3434, wquigley@fiteshavell.com.

By Darrell Hofheinz /Daily News Home & Loggia Editor

Sometimes, a real estate agent does what a real estate agent has to do.

And if that means helping rid a home of a hump, then it’s all in a day’s work, says agent Scott M. Gordon of Fite Shavell & Associates.

The hump in question was once a prominent feature of the living-room floor in a lakefront house at 300 Regents Park, which Beatriz Ford sold for a recorded $3.815 million late last month to former U.S. Ambassador Mary M. Ourisman. The diplomat will reside there with her husband, Mandell “Mandy” Ourisman.

“The house had been on the market for at least four years,” says Gordon, who acquired the South End listing in January of last year. He co-listed it with Samantha Curry and Carla Christenson, who has since left the agency.

Gordon said the hump in the hardwood floor had risen to 2 feet high after the house suffered water damage during one of the hurricanes that hit South Florida in 2004 and 2005. And it had proved to be a stumbling block — literally — that turned off potential buyers and discouraged other real estate agents from showing the house, he says.

Gordon, who lives on Palm Beach, had experience with construction projects, having helped his father, the late Bob Gordon; his brother, Lee; and George L. Ford III (no relation to Beatriz) develop and market several “spec” houses on the island.

So Gordon called in engineers from the West Palm Beach firm of Landmark Surveying & Mapping Inc. to diagnose the problem. The repair estimate turned out to be far less than what Ford had been quoted previously, Gordon says, and she agreed to have the work done.

Once the hump was fixed, Gordon says, he and his colleagues worked hard to get the word out, inviting real estate agents to take a second look at the house, built in 1959 by developer Clarence Mack in the Palm Beach Regency style.

By the time the house sold, the listing price had also dropped — from Fite Shavell’s original $5.695 million to $4.995 million. (At one point during the height of the real estate boom, the house had been listed at a much higher price.)

The Ourismans, who were represented in their purchase by Cristina Condon of Sotheby’s International Realty, ended up with a new home where the floor is as flat as their view of the Intracoastal Waterway on a calm day.

The Ourismans, by the way, have already asked their longtime designer, William R. Eubanks, to decorate the interiors. No word if he’ll keep the floor as is.

By Darrell Hofheinz /Daily News Real Estate Writer

Stephen and Marcia Sullivan bought the home at 1326 N. Ocean Boulevard. The couple also are linked to two other properties on the island, according to public records. Daily News Photos by Jeffrey Langlois.

A Florida corporation associated with John W. Grand of Palm Beach last week sold one North End house for $6.45 million on North Ocean Boulevard and paid $3.77 million for a just-completed “spec” house about five blocks to the south on Nightingale Trail, according to warranty deeds recorded by the Palm Beach County Clerk’s office.

Grand signed an April 18 deed as president of Shadowcorp Holdings Inc. to sell the five-bedroom oceanfront house at 1326 N. Ocean Blvd. in a privately arranged deal.

A Massachusetts ophthalmologist, Dr. Stephen F. Sullivan, and his wife, Marcia G. Sullivan, bought the Bermuda-style house at the corner of North Ocean Boulevard and Osceola Way. The Sullivans were represented by agent Jim McCann of the Corcoran Group, who said a confidentiality agreement prevented him from discussing the deal.

Property records link the Sullivans to two other houses in Palm Beach, one owned under Marcia Sullivan’s name on Mockingbird Trail and the other nearby on Osceola Way. The couple also has a residence in South Dartmouth on the southern coast of Massachusetts, where Stephen Sullivan owns Eye Health Vision Centers, a medical and surgical practice he founded with multiple locations.

Four-bedroom spec home

Two days prior to the North Ocean Boulevard sale, Shadowcorp Holdings Inc. bought the never-before-lived-in house at 212 Nightingale Trail from its developer, Robmar Realty LLC. The county recorded the deed for that sale, dated April 16, and the other deed on Wednesday.

In the Nightingale Trail sale, listing agent Hazel Rubin of Fite Shavell & Associates represented Robmar Realty, a development company created by Palm Beacher Mark Goldman and his son, Robert Goldman of West Palm Beach. Their four-bedroom, British Colonial-style house had been listed in the Palm Beach Board of Realtors multiple listing service for about $4.5 million.

Intense competition

Built by Wittmann Building Corp., the house on Nightingale Trail — developed without a specific buyer in mind — was a rarity in the Palm Beach housing market this season, because the recession had deterred many developers from starting new residential projects during the past two years. That had left a hole in the marketplace — and intense competition for the house, Rubin said.

“It’s a new house, and many people do not want to do construction nowadays,” Rubin said. “They just want to move in and enjoy it.”

Rubin, who said she worked closely with the home’s developers, had promoted it as the “only new construction” available this season on the North End. She said she had had to inform several disappointed would-be buyers that the house was sold after it went under contract, less than 60 days after it was listed in January, Rubin says.

The spec home at 212 Nightingale Trail went under contract less than 60 days after it was listed in January for $4.5 million. The new owner paid $3.77 million for the home. Daily News Photos by Jeffrey Langlois.

Agent Suzanne Frisbie of the Corcoran Group represented Shadowcorp Holdings in its purchase of the house on Nightingale Trail, according to the multiple listing service.

Agent unconfirmed

Frisbie would not confirm that she was involved in the sale of 1326 N. Ocean Blvd., which wasn’t listed in the MLS system when it sold. But MLS records show she had been the listing agent for the 7,179-square-foot house when it was on the market in 2010 for $6.75 million.

Citing confidentiality agreements with her client, Frisbie also said she could not discuss any aspect of the Nightingale Trail transaction.

Home features

With 5,876-square feet of living space, inside and out, the Nightingale Trail house was designed by Michael Perry of MP Design and Architecture in Palm Beach and has 10-foot ceilings, custom millwork, elevator and a state-of-the-art kitchen, according to Fite Shavell’s sales listing. Nievera Williams Design of Palm Beach created the landscaping plan. On an interior block, the house comes with deeded beach access and the use of an oceanfront community cabana.

In 2010, Goldman and his son bought the property at 212 Nightingale Trail for a recorded $1.24 million from Howard and Charlotte Abrams, and subsequently demolished a house there to build their spec home.

The Sullivans’ new beachfront home on North Ocean Boulevard, meanwhile, has an open floor plan with an oceanside “great room,” a renovated kitchen and a “VIP” guest suite, according to Corcoran Group’s expired listing.

Property records

In addition to the property owned by Marcia Sullivan at 233 Mockingbird Trail, property records show that 230 Osceola Way is owned by a limited liability company with the same address as the Sullivans’ home in South Dartmouth, Mass.

Public records had listed the North Ocean Boulevard address as the residence of Grand. The Nightingale Trail address, in turn, was listed under his name on the deed of sale for the North Ocean Boulevard house.

Shadowcorp Holdings bought the North Ocean Boulevard house in November 1998 for a recorded $2.7 million, property records show.

Public records show that Grant and Shadowcorp had previous addresses or owned property in Miami-Dade County.

Grant, the Sullivans and Mark Goldman could not be reached for comment.

By Darrell Hofheinz /Daily News Real Estate Writer

Unit 4C in the Kirkland House was decorated by William R. Eubanks Interior Design for former U.S. Ambassador Mary M. Ourisman and her husband, Mandell. The apartment sold this month for a recorded $6.4 million to Patrick J. Donaghy and his wife, Mary. Photo by Sargent Architectural Photography, courtesy of William R. Eubanks Interior Design.

Two weeks after she closed the deal for a new home on Palm Beach’s South End, former U.S. Ambassador Mary M. Ourisman and her businessman husband, Mandell “Manny” J. Ourisman, sold their oceanfront condo in the Kirkland House for $6.4 million, the price listed on the warranty deed recorded April 13 by the Palm Beach County Clerk’s office.

The diplomat, who bought the Worth Avenue condo in her name in 2002 for $3 million, was “joined” by her husband on last week’s deed.

The buyers of Unit 4C were retired construction executive Patrick J. and Mary M. Donaghy, who also own a lakefront luxury townhouse at 236 Bradley Place, property records show. In addition, the couple has a residence in Darien, Conn., according to public records.

The private sale marks the largest deal this year for a Palm Beach condominium listed in the Palm Beach Board of Realtors Multiple Listing Service. Property records show that the sale involved the largest amount ever paid for a unit in Kirkland House, 101 Worth Ave. at South Ocean Boulevard.

“It’s such a magnificent apartment — probably the nicest I’ve ever been in,” said agent Bobby Goodnough of Linda A. Gary Real Estate, who represented the Ourismans.

“When something is done to such high quality, people are willing to pay for it. The apartment was worth every penny. There just wasn’t another one like it.”

Mary Ourisman bought the three-bedroom condominium about six months after the couple wed.

Agent Michael Bellemeur of Waterfront Properties and Club Communities in Jupiter represented the Donaghys in their purchase of the 3,850-square-foot apartment. Describing the unit as “outstanding,” he said that confidentiality agreements prevented him from discussing specific aspects of the deal or his clients.

Born in Ireland, Patrick J. Donaghy Jr. moved to this country in the late 1950s and is the retired chairman and co-founder of Structure Tone. The company and its affiliates offer wide-ranging construction services in the United States, the United Kingdom, Ireland and Asia, according to its website.

Patrick Donaghy also is associated in public records with a company named Favour Rouyale LLC, although the nature of its business is unclear.

Lavish interiors

The fourth-floor condo affords eastern vistas facing the ocean as well as views to the west of Midtown. In addition to the views, Goodnough said, the apartment’s selling points were its relatively large size, location and lavish interior finishes created for the Ourismans by the firm of Palm Beach designer William R. Eubanks.

The Ourismans signed two 30-year, $1-million mortgages on the property in December 2002 and August 2003 with Wells Fargo Home Mortgage Inc. The first note was recorded as satisfied in October 2003, but the repayment status of the second mortgage was unclear Wednesday, according to county property records.

Linda Gary Real Estate never advertised the property for sale in the two multiple listing services that serve the island. Goodnough instead had been working with Bellemeur on a private sale that came to fruition shortly after agent Cristina Condon of Sotheby’s International Realty had listed the apartment for $6.8 million, he said. Sotheby’s then withdrew the listing.

Condon did, however, represent Ourisman in her purchase of Beatriz Ford’s lakefront house at 300 Regents Park Road, recorded at about $3.82 million on the March 29 deed. The seller’s side of that deal was handled by Fite Shavell & Associates and listing agents Scott M. Gordon and Samantha Curry.

Ourisman, who was the United States’ ambassador to Barbados and the Eastern Caribbean from 2006 to 2009, served as chairwoman of January’s 55th annual International Red Cross Ball at The Mar-a-Lago Club.

Townhouse listed

The Donaghys, meanwhile, have listed their three-bedroom townhouse in Villa Plati with Bellemeur for $4 million. It has more than 3,000 square feet and affords views of the Intracoastal Waterway and West Palm Beach, he said.

The Ourisman condo sale came on the heels of another sizable sale this month in the 20-unit building, which was built in 1974 by developer Michael Burrows. James and Kay Morrissey sold their second-floor apartment with 4,130 square feet for a recorded $4.97 million to a trust in the name of Philip H. Geier Jr., who acted as its trustee along with his daughter, Hope G. Smith, according to the deed recorded April 11. Agent Jim McCann of the Corcoran Group represented the Morrisseys, and agent Mimi Vail of Fite Shavell & Associates acted on behalf of the buyer.

The Ourismans and the Donaghys could not be reached for comment.

By Darrell Hofheinz /Daily News Real Estate Writer

Corcoran Group had listed No. 2D, a three-bedroom apartment with waterfront views at 101 Worth Ave., for $6.95 million. Daily News Photo by Meghan McCarthy.

A second-floor condominium in the Kirkland House with a direct eastern view of the Atlantic has changed hands for $4.97 million, the price on the warranty deed recorded last week by the Palm Beach County Clerk’s office.

Kay and James “Jim” Morrissey sold their longtime Palm Beach apartment to advertising consultant and venture capitalist Philip H. Geier Jr., who acted as trustee of a trust agreement in his name. The deed also lists Hope G. Smith, one of his two daughters, as a trustee.

The trust was represented by agent Mimi Vail of Fite Shavell & Associates. Property records show that Geier owns no other Palm Beach County property under his name, nor does the trust.

Corcoran Group agent Jim McCann had listed No. 2D, a three-bedroom apartment at 101 Worth Ave., for $6.95 million for the Morrisseys. They are real estate developers with strong ties to Louisville, Ky., where they once owned a regional Weight Watchers franchise for Kentucky and southern Indiana.

The Morrisseys had paid $1.3 million in 1992 for the apartment, according to property records. The building stands on the corner of South Ocean Boulevard at Worth Avenue.

The couple plans to spend more time at their home in Louisville, Jim Morrissey said in an interview earlier this year, when the condominium was still on the market.

“We love Palm Beach and the Kirkland House, but the time has come for us to decide on one place (to live),” he said.

The Morrisseys had hired noted New York City-based interior decorator Geoffrey Bradfield to design the interiors, because they had frequently worked with his mentor, the late Jay Spectre, on projects in Louisville. Bradfield created contemporary interiors that capitalized on the apartment’s expansive wall space to display art.

‘A special place’

With relatively spacious rooms and large windows to capture views, the apartment has 4,130 square feet of living space with terraces on the east, looking across South Ocean Boulevard, and on the south facing the Avenue. It is one of only 20 units in the building.

“The Kirkland House is such a special place, because of its location and the size of the apartments,” agent Vail said.

Interior decorator Geoffrey Bradfield designed the interiors of No. 2D in the Kirkland House for Kay and Jim Morrissey after they bought the apartment in 1993. Photo Courtesy of Corcoran Group.

McCann agreed with Vail, adding that Kirkland House apartments rarely come onto the market. Owners tend to hold onto them, he said, because of the building’s prime address and the spacious layouts, unusual for apartments built nearly 40 years ago. He credited developer Michael Burrows, who completed the building in 1974, as forward-thinking.

“He was really ahead of his time, realizing that people had a desire for larger sizes, as far as floor plans go. Many of the apartments built during that time were much smaller, and that was fine if people were only going to spend a couple of weeks (out of the year) there. But today, (more) space is a luxury that people want,” McCann said.

Advertising expert

After a career spent in the advertising industry, Geier co-founded The Geier Group a decade ago to provide consulting services in marketing, communications and venture-capital endeavors. Before that, he had spent 20 years as chairman and CEO of Interpublic, one of the world’s largest advertising holding companies, where he today holds the title of chairman emeritus. He is credited with helping pioneer the very concept of advertising holding companies, which acquire and oversee a number of ad agencies as part of a portfolio.

He actively supports a number of charitable and medical causes, and that interest has included service as a trustee on the boards of Autism Speaks, Memorial Sloan-Kettering Cancer Center, Save the Children Foundation and the Whitney Museum of American Art in New York City, according to Internet sources.

In the earlier interview, Jim Morrisey said he and his wife had enjoyed the residence but were looking forward to spending more time in Louisville: “Living here all year round is a compromise for us,” he said. “But it was a tough decision. We are very proud of our place.”