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Former Handelsman properties, including post office building, bring $21M in bankruptcy sale
A court approved the sale of three properties owned by entity once controlled by Worth Avenue landlord Burt Handelsman.
Darrell Hofheinz
Palm Beach Daily News
Three Palm Beach commercial properties including the building that houses the South County Road post office and part of another one facing Worth Avenue have changed hands for a recorded $21 million in a sale sanctioned by a U.S. bankruptcy court.
The limited partnership that sold the buildings, Hals Realty Associates LP, was for years controlled by longtime Worth Avenue property owner and landlord Burt Handelsman. But the limited partnership was managed by a court-appointed bankruptcy trustee when the sale closed Jan. 13 in the Chapter 11 case, court records show. The deed of sale recorded Tuesday.
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Vacant lot on former Kluge land brings $6.9M in Estate Section of Palm Beach
Five of the original six vacant lots in Estate Section subdivision have now sold on land once owned by late billionaire John Kluge.
Darrell Hofheinz
And then there was one.
That’s how many lots are left in the subdivision real estate developer and insurance mogul Sir Peter Wood carved from an estate he bought in 2016, four streets south of Worth Avenue.
The fifth of the six vacant lots there sold earlier this month for a price recorded at just under $6.9 million. Measuring nearly half an acre, the vacant lot at 127 El Bravo Way is on the corner of South County Road.
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Billionaire Griffin’s new house unveiled, proposed for part of South End estate in Palm Beach
A house and guesthouse are planned on 7½ acres of the estate, which measures more than 20 acres, leaving plenty of room for future development.
Darrell Hofheinz
Palm Beach Daily News
Billionaire hedge-fund manager Ken Griffin has finally unveiled plans for a beachfront mansion to be built on part of his massive ocean-to-lake estate in Palm Beach, a quarter mile south of Mar-a-Lago.
With about 50,000 total square feet, including its service basement, the contemporary-style house and guesthouse would be built on 7½ acres on the north part of Griffin’s estate, according to the plans filed at Town Hall.
And the condo in question isn’t even finished yet.
But it has a few features that could justify the price tag, according to those involved with its development and sales effort.
For starters, it’s on the upper floors of the iconic Tiffany Building, above the famous jewelry store and smack in the middle of the action on Worth Avenue. And it includes a recently completed third-level rooftop terrace with a glass-enclosed room and a swimming pool.
The floorplan was designed with five bedrooms and about 13,000 square feet of living space, inside and out. About 9,876 of that space would be under air conditioning.
Although the Tampa Bay Buccaneers will play in this year s Super Bowl on their home turf, the team’s ownership the Glazer family has deep ties on the opposite coast of Florida in Palm Beach.
With their 31-26 win Sunday over the Green Bay Packers, the Bucs will face the Kansas City Chiefs on Feb. 7 at Raymond James Stadium in Tampa, the first time a Super Bowl team will compete on its home turf.
The Bucs last won the Super Bowl in 2003, eight years after the late billionaire Malcolm Glazer, the family’s patriarch, paid $192 million for the NFL franchise in Tampa. Along with serving as president and CEO of the Bucs, Glazer acquired England’s Manchester United soccer team by buying out its shareholders between 2003 and 2005.