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SPECIAL TO FLORIDA WEEKLY New Townhomes for Sale on Palm Beach

New Townhomes for Sale on Palm Beach

Palazzo Villas are the first luxury exclusive villa residences to be built on the Island in 15 years. Located at 215 Brazilian Avenue in the heart of Palm Beach, amidst the renowned shops of Worth Avenue, the best restaurants and white sandy beaches, Palazzo Villas offers the ultimate lifestyle.

This exclusive gated complex features four exquisitely designed residences, each in excess of 6,000 square feet. The individually designed villas offer four bedrooms plus a den, oversized family rooms, deluxe master suites, summer kitchens, heated pools and spas. Palazzo Villas implements the latest construction, featuring impact glass, cast stone driveways, custom two car garages, stone staircases, elevators, high ceilings and generators. State-of-the-art custom cabinetry, fixtures and Lutron lighting as well as a private key pad entry and digital security system offer the perfect Palm Beach home for the most discerning buyers.

Please visit www.PalazzoVillas.com for more information.

Fite Shavell & Associates lists the villas at $6,250,000 to $6,750,000. The agent is Chris Deitz, 561- 373-4544, cdeitz@fiteshavell.com.

View entire article on the Florida Weekly website.

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SPECIAL TO FLORIDA WEEKLY Homes for Sale in Palm Beach

Homes for Sale in Palm Beach

This 1925 Mediterranean four-bedroom, four-bathroom home features a one-bedroom, one-bath detached cottage.

Located at 339 Cocoanut Row, the home is in the center of Palm Beach, located near shops, restaurants and the beach. The property is currently divided into three rental units. There is an opportunity to convert the property back into a single family home.

Fite Shavell & Associates lists the home at $2,350,000. The agent is Martin Conroy, 561-523-6148, mconroy@fiteshavell.com.

View entire article on the Florida Weekly website.

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SPECIAL TO FLORIDA WEEKLY Condominiums for Sale in Palm Beach

Condominiums for Sale in Palm Beach

A beautiful direct-Intracoastal two-bedroom, three-bathroom condominium at 150 Bradley Place #405 in Palm Beach offers an oversized living room and marble floors. A marble master bathroom features two vanities and a separate shower.

Stunning views are featured from this ready-to-enjoy sunny waterfront home at the prestigious, pet-friendly Palm Beach Biltmore. Fite Shavell & Associates lists the condominium at $1,995,000. The agent is Clive Stuart-Findlay, 561-352-0536, cstuart-findlay@fiteshavell.com.

View entire article on the Florida Weekly website.

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By Darrell Hofheinz/Daily News Staff Writer Homes for Sale by Thor M. Brown

Homes for Sale by Thor M. Brown

After the town shot down its owner’s plans for a controversial modern-style house this summer, a vacant corner lot at 167 Seagate Road on the North End is on the market for $2.7 million.

The property measures about a third of an acre and fronts North Lake Way, kitty-corner from the Sailfish Club.

Brown Harris Stevens agent Paula Mikus has listed the lot for seller Mads Thomsen. He had bought the property in February for about $1.69 million, property records show, and immediately demolished a 1950s-era house there with the intention of building a custom home. But he abandoned those plans in July after the Town Council upheld the Architectural Commission’s decision to reject the house’s design.

A cleared lot of its size a block from the Intracoastal Waterway is a prime – and rare — commodity, Mikus said, adding that the price reflects its value. Town codes would allow a buyer to build a house with up to 5,900 square feet of living space, inside and out. Second-story windows would offer views of the lake across the Sailfish Club’s parking lot.

Thor M. Brown of Fite Shavell & Associates

“It’s ready to go. We’ve had a lot of interest,” said Mikus, who has fielded calls from builders, developers and private buyers looking to build custom homes.

“People are looking for (property in) that neighborhood,” she added.

Access to the Lake Trail is directly across North Lake Way, and there’s also a beachfront cabana for use by residents of Seagate Road.

Danish-born Thomsen bought the property from Derrin Scott, who was represented in the sale by agents Elizabeth Cleckner and John S. Pangborn of the Corcoran Group. Agent Thor M. Brown of Fite Shavell & Associates acted on Thomsen’s behalf.

Thomsen put the lot on the market the day after the council denied his appeal of the commission decision. Among its reasons for rejecting the project, commissioners had said the house’s International Style architecture would violate code because it was too “dissimilar” from other styles in the neighborhood.

Thomsen, who at one time made his living in construction, rejected that view and said he is still deciding his next move.

“I would have loved to have built there. It’s a great lot,” he said. “I spent over $500,000 on legal fees, demolition and taxes, sitting on something I couldn’t use.”

View entire article on the Palm Beach Daily News website.

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Only a penthouse in the South End development has sold for more, according to property records.

By Darrell Hofheinz/Daily News Staff Writer Condominiums for Sale in Palm Beach

Condominiums for Sale in Palm Beach

Bellaria consists of two buildings just south of the Lake Worth Casino and Pier.

It’s a common enough scenario in Palm Beach: A couple rents an apartment for a season or two, likes the building and then decides to invest in their own piece of paradise there.

But sometimes the process isn’t quite so straight-forward. In Barbara and Jerome J. Claeys III’s case, they ended up exploring — and rejecting — plenty of other options before they paid a recorded $4.225 million for their oceanfront condominium in Bellaria.

The deal they sealed this month marks the second-highest price ever recorded in the 36-unit development just south of the Lake Worth Casino beachfront plaza, according to property records.

The Claeyses, who also have a home in Lake Forest, Ill., had leased a lanai apartment for the past three seasons in Bellaria, 3000 S. Ocean Blvd. When they decided to buy, they began scouting homes and condos — but they didn’t limit themselves to the island.

With a private oceanfront terrace on the ground level, Bellaria condo No. 205 sold this month for $4.225 million. Photos by Niki Higgins, courtesy Seaside Property Group at Douglas Elliman.

“My husband and I looked from Fort Lauderdale all the way up to Jupiter Island,” Barbara Claeys said, noting that her husband’s family has longtime ties to Fort Lauderdale. The couple also has friends north of Palm Beach.

Yet the couple kept coming back to Bellaria, drawn by its seaside location and the fact that the two-building development is relatively new, having finished construction in early 2007.

“We really do like Palm Beach, and we loved the building,” she said. “My husband goes back and forth to Chicago (on business), and he liked that it takes him 12 minutes to get to the airport.”

The residence they bought — No. 205 — is a four-bedroom lanai unit with 6,306 total square feet, near the one they leased.

Agent Niki Higgins of the Seaside Properties Group at Douglas Elliman had listed it for the sellers, Dr. Lazar Kaganovsky and his wife, Elina, a year ago. It was priced at nearly $6 million when it sold.

The Kaganovskys had bought the unit new for a recorded $3.125 million in 2006. The couple has longtime ties to New York, where Dr. Kaganovsky is an internist with a practice in Brooklyn.

Stephen Simpson of Fite Shavell & Associates

Agent Stephen Simpson of Fite Shavell & Associates represented the Claeys in the deal recorded Aug. 8, according to the local multiple listing service.

The apartment has private elevator access from the garage — a feature not found in all of Bellaria’s units. A private cabana by the pool and two parking spaces in the garage also were selling points.

Jerome Claeys is the non-executive chairman and an equity owner of Heitman, a real estate investment firm headquartered in downtown Chicago.

With this month’s sale, Higgins can take credit for being involved in four of the five highest-dollar sales ever recorded in Bellaria, including three penthouses. She handled both sides of a $4.8-million sale in 2009 for unit PH6. That same year, she represented the buyer, opposite listing agent Julia Robinson of Earl A. Hollis Inc., in the sale of PH7, which changed hands for $4.05 million.

She also was the listing agent when another penthouse, PH3, sold in 2008 for $3.99 million, the same price fetched the previous year by PH4. Higgins, by the way, has the latter listed for $6.5 million.

View entire article on the Palm Beach Daily News website.

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Agent Chris Deitz of Fite Shavell assembled properties sold for nearly $100M.

By Darrell Hofheinz/Daily News Real Estate Writer Homes for Sale by Chris Deitz

Homes for Sale by Chris Deitz

Chris Deitz of Fite Shavell & Associates

Agent Chris Deitz of Fite Shavell & Associates says the Great Recession helped him spearhead last month’s $97.5 million sale of more than 6½ acres in the Brickell neighborhood just east of I-95 in downtown Miami.

The new owners’ propose is to develop Miami Riverwalk, a mega-complex with four towers that, if built, will include residential units, a hotel, retail space and a marina on 700 feet along the Miami River.

The sale involved eight adjacent properties with 20 addresses, bought by investor brothers Joe and Meyer Chetrit of CG Florida Properties— an affiliate of powerhouse New York developer Chetrit Group — in partnership with Miami developer Ari Pearl.

The Miami Riverwalk development is proposed for a site along 700 feet of the Miami River. Rendering courtesy of Chetrit Group.

Deitz credits the recent economic downturn, in part, for sparking the deal. When real estate sales slowed in Palm Beach two years ago, he said he cast his eye to Miami, where he had done other deals.

“In early 2012, the real estate on the island was still slow, and I heard that Miami was starting to take off again,” Deitz said. “I went down and started to scout areas where I could assemble property in close proximity of other upcoming developments. I proceeded to call over the next few months and secured a continuous assemblage of property.”

The site is bordered by the river, Southwest Seventh Street, and Southwest Second and Third avenues. With a mix of businesses and houses, the properties were owned by eight different entities. Only two of the properties were listed for sale.

A rendering shows the Miami Riverwalk development proposed for land in downtown Miami that sold last month in a $97.5 million deal involving by Fite Shavell & Associates agent Chris Deitz. Rendering courtesy of Chetrit Group.

Once the sellers were on board, Deitz partnered with broker Brian Webster of Webster’s International Realty in Palm Beach Gardens to find a buyer.

“As soon as Chris brought this deal to me, I knew it was a winner and had the makings of a $1 billion project,” Webster said in a statement released after the sale closed.

The deal came together quickly, Deitz said.

“We had all of the properties under contract within a week. It went very fast and it needed to, because if any other buyers caught wind of this, it would be gone within days,” he said.

The project is still in the early presentation stages. But, if it wins city approval, it’s expected to be developed in phases.

Deitz said he and Webster are working on another development and two more assemblages of property in downtown Miami and Miami Beach’s South Beach.

In Palm Beach, meanwhile, Deitz last month listed a quartet of still-to-be-built townhouses at 215 Brazilian Ave.two at $6.25 million and the others at $6.75 million – for the project’s developers. Broker Steve Hall of Hall Real Estate was on the seller’s side when the deal for the land closed in May at $6 million.

View entire article on the Palm Beach Daily News website.

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By Darrell Hofheinz/Daily News Staff Writer Homes for Sale in Palm Beach

Homes for Sale in Palm Beach

745 N. Lake Way, Palm Beach. Sold by Martin Conroy of Fite Shavell & Associates.

West Palm Beacher Elizabeth “Betsy” Sorrel last week used a limited liability company to buy an off-the-market, five-bedroom home at 309 Dunbar Road for a recorded $2.73 million. She then immediately listed it for sale at $3.9 million – a similar scenario to what she did with another North End house two years ago.

Named after the property’s address, Sorrel’s company bought the 1955 house on Dunbar from oil-and-energy exec Harold C. Paull Jr. and his wife, Joanne, according to public records. With 5,269 total square feet, it stands on an oversized lot measuring a third of an acre in the street’s lake block.

She bought it in a private deal handled on both sides by agent Stephen Ploof of Linda A. Gary Real Estate.

Sorrel has listed the house with broker Christian Angle of Christian Angle Real Estate, whose MLS listing describes it as “an excellent opportunity to build new.”

Two years ago, Sorrel paid $2.3 million for a 1951 house at 212 Coral Lane in a deal that saw Angle acting on her behalf and agent Bill Kirk of Sotheby’s International Realty representing seller Jane Pope Akers Ridgeway. Sorrel then sold the house two months later in a private deal to Robmar Realty LLC for a tidy $500,000 profit, records show.

Martin Conroy of Fite Shavell & Associates

And by the end of the year, the house had changed hands privately once more for $2.6 million. It has since been razed, and owners Tony and Vanessa Beyer have received approval to build a new one-story house there in a “tropical modern” style.

Property records, by the way, show yet another recent North End transaction involving Sorrel. In May 2013, she sold, for a recorded $2.73 million, a five-bedroom, 1992 home she had owned since 2005 and extensively renovated at 745 N. Lake Way. Although Ploof and Angle had each marketed the house for Sorrel at one point, agent Rosalind Clarke of the Corcoran Group had the listing when it sold. Agent Martin Conroy of Fite Shavell & Associates acted for the buyer, Paddock View Farm LLC of Ocala.

Sorrel couldn’t be reached for comment.

View entire article on the Palm Beach Daily News website.

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Gene Reed Jr. has bought and sold four PB houses in seven months.

By Darrell Hofheinz/Daily News Real Estate Writer Homes for Sale in Palm Beach

Homes for Sale in Palm Beach

Auto dealer Gene Reed Jr. certainly seems to be doing his part to help drive Palm Beach’s real estate boomlet.

In the past seven months, he has sold two homes and bought two more. In all, nearly $23 million has changed hands, according to deeds recorded by the Palm Beach County Clerk’s office.

225 Seabreeze Avenue, Palm Beach. Listed by Paula Wittmann of Fite Shavell & Associates

His most recent transaction closed last week when he sold his Midtown villa at 225 Seabreeze Ave. for a recorded $6.33 million — just two months after he bought an oceanfront home and an adjacent house on the North End via a single deed. Those deals followed one in December, when he sold a house on Nightingale Trail that he owned through a limited partnership.

Last week’s deed shows that Palm Beacher Irvin Saltzman, founder of Penn-America Insurance Co., bought the Seabreeze Avenue property, a four-bedroom Mediterranean-style house with 7,618 square feet of living space inside and out. Agents Paulette Koch and Dana Koch of the Corcoran Group were on the buyer’s side.

Paula Wittmann of Fite Shavell & Associates

Agent Paula Wittmann of Fite Shavell & Associates priced the property at $7.895 million and it went under contract within six weeks of her listing it for sale in late March, according to records in the multiple listing service.

On an oversized lot, the two-story residence was built in 2008, five houses west of South County Road. Wittmann knows the house well, as it was built in 2008 by her husband Paul’s company, Wittmann Building Corp., from a design by Smith and Moore Architects.

“The house is gorgeous. If it was on the ocean, I would never have moved,” Reed told the Daily News in May.

Gene Reed Enterprises operates car dealerships in North Carolina and South Carolina. A Palm Beach resident for about 10 years, Reed also has a ranch at Pine Creek Sporting Club in Okeechobee and spends time in Aspen, Colo.

231 Nightingale Trail, Palm Beach. Listed & Sold by Paula Wittmann of Fite Shavell & Associates.

This is the fourth time the house has sold since it was built as a custom home for former Apple CEO John Sculley and his ex-wife, Lee Adams Sculley. Reed paid $6.35 million for it when he bought it from Robert M. Abee and Sotheby’s International Realty agent Ted Gossett in 2010, property records show.

Reed, whose wife is Johnnie Reed, is settling into the new seaside house he bought in April for a recorded $11.5 million at 1230 N. Ocean Blvd. The deal also included an adjacent “guesthouse” at 1233 N. Ocean Way. He bought both from Deaj Properties Ltd. in a deal handled by broker Christian J. Angle of Christian Angle Real Estate.

Back in December, Reed sold a six-bedroom house at 231 Nightingale Trail for $5.075 million to Londoners Patrick and Kelly Lynch. Reed had owned that house since 2010 through Whitson Investments Limited Partnership of Charleston, S.C. Paula Wittmann represented both seller and buyers.

View entire article on the Palm Beach Daily News website.

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By Darrell Hofheinz/Daily News Staff Writer Condominiums for Sale in Palm Beach

Condominiums for Sale in Palm Beach

Noticed: That the Gozlan Property Partnership, a Toronto entity linked to manufacturer Alan Gozlan, has sold apartment 2A in the seaside Dunster House at 360 S. Ocean Blvd for a recorded $3.753 million. On the buyer’s side, Robert I. Friedman acted as trustee of the 360 PB Trust, which was represented in the deal by agent Bobby Goodnough of Linda A. Gary Real Estate. Agent Karen Donnelly of Fite Shavell & Associates had listed the three-bedroom apartment for $4.5 million in March, landing it under contract in just over a month.

View entire article on the Palm Beach Daily News website.

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By Darrell Hofheinz/Daily News Staff Writer Land Sold in Palm Beach

Land Sold in Palm Beach

A Florida company linked to longtime Palm Beacher James Held has sold a vacant lot at 657 Island Drive for a recorded $8.95 million — nearly $4 million more than its purchase price two years ago.

On the other side of the deal, a limited liability company registered in Delaware — 657 Island LLC — bought the lot from 241 Jungle Road LLC, according to the deed recorded Thursday by the Palm Beach County Clerk’s office.

The buyer’s address on the deed is that of a private investment company in King of Prussia, Pa., named Wind River Holdings L.P., headed by CEO Russell C. Ball. The company specializes in investing in businesses. Ball could not be reached for comment.

657 Island Drive, Palm Beach. Listed by Jack Elkins & Bunny Hiatt of Fite Shavell & Associates.

The property measures half an acre and has 135 feet of lake frontage on the west side of Everglades Island, several houses south of the island’s bridge to Palm Beach. The property has more waterfront than the majority of properties on Everglades Island, boosting its value.

Agents Jack Elkins and Bunny Hiatt of Fite Shavell & Associates had listed the property for sale at $9.64 million in late March, a couple of weeks after a trust associated with Held bought another vacant parcel.

Agent Liza Pulitzer of Brown Harris Stevens was on the buyer’s side of the negotiating table for the property on Island Drive.

Although the lot remains vacant, the town granted a variance in 2012 to allow a new two-story house to be built on it.

The buyer’s intentions for the property are unclear. None of the agents involved would provide specifics about the deal or discuss the identities of anyone involved in it. Held also could not be reached for comment, nor could Architectural Commission member Kenn Karakul. Karakul and Held have resided in a number of Palm Beach homes they built or renovated together during their nearly 30 years in Palm Beach.

The lot was last sold for a recorded $5 million in March 2012 by a limited liability company associated with businessman James Mattei, who had razed a house there and owns a custom home that he and his wife, Sharon, built across the street. The sale two years ago was handled by agent Mary Boykin of Sotheby’s International Realty, Sharon Mattei’s mother, who also declined to comment.

Jack Elkins & Bunny Hiatt of Fite Shavell & Associates

Thursday’s sale comes on the heels of another Everglades Island property sold in May by Elkins and Hiatt619 Island Drive, which Ray and Kim Celedinas bought from the estate of the late Lucille P. Balcom for a recorded $6.55 million.

Everglades Island is definitely a hot spot,” Elkins said, citing its in-town location and its privacy.

In February, a trust sold El Castillo, for a recorded $19.8 million. That was Held and Karakul’s landmarked house at 4 El Bravo Way. The buyer was a limited liability company linked to Palm Beacher Henry Kravis. Elkins and Hiatt also were on the seller’s side of that deal, with agent Cristina Condon of Sotheby’s International Realty acting for the buyer.

A month later, the 241 Jungle Road Trust bought a vacant lot at 241 Jungle Road in the Estate Section for a recorded $7.92 million. The same trust is identified in property records as a former owner of the Island Drive lot that just sold; ownership transferred in March from that trust to the limited liability company listed as the seller on the deed for 657 Island Drive. Roy J. Zuckergerg sold the Jungle Road lot through a limited liability company in the private deal put together by broker Lawrence A. Moens of Lawrence A. Moens Associates. Moens could not be reached for comment.

The Island Drive deed identifies the address of the selling entity as in care of Hugh E. Pollard, an executive with the Chicago office of National Safe Harbor Exchanges. The company handles transfers of property through a tax-deferred exchange program, according to its website.

A former president and CEO of the Home Shopping Network, Held today is president of JPBK Holdings Inc., a Palm Beach-based private investment and real estate holding company. Karakul, who also has a retail background, is the company’s vice president.

Everglades Island is less than a mile long; its northern tip faces the Worth Avenue lagoon and the Everglades Golf Course.

View entire article on the Palm Beach Daily News website.

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