Palm Beach Mayor Gail Conigio’s family and an investment partner have sold, for a recorded $7.15
million, the landmarked commercial building they owned for nearly 25 years at the northeast corner of Royal Poinciana Way and Bradley Place.
The new owner of 283 Royal Poinciana Way is a limited liability company affiliated with West Palm Beach real estate investor and businessman Edward “Ned” P. Grace Iv, the deed recorded Tuesday shows. He is the sole manager of 283 Royal Poinciana Way LLC, state business records show.
Grace, who co-founded NDT Development, played a key role in 2018 when Boston-based New England Development bought, for $15.4 million, the landmarked 1920s-era hotel building immediately north of the property that just changed hands. Formerly the Bradley Park Hotel, the hotel reopened this season as The White Elephant after a major renovation at the corner of Sunset Avenue and Bradley Place.
Newburyport s Plum Island Coffee Roasters to close at the end of March
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Gold Key – Suite
The Highlights: The 13 guestrooms and 19 suites are designed following a traditional Palm Beach vernacular reworked and updated in a laidback, textural, easy style. Featuring museum-quality original artworks with an international, contemporary point of view that reflects the ethos of the hotel’s well-traveled guests, the White Elephant provides them with a uniquely personal journey.
Suites are designed for both short- and long-term stays with lots of storage and a living room sofa bed. Some are big enough for a family working remotely, including the Park suite with a living room, three bedrooms, a dining area, a full cooking kitchen, and enormous outdoor terrace.
So, what s the truth?
The electronics retailer confirmed Wednesday that the company has decided not to renew its lease and that the last day in business in Brockton will be Saturday, Feb. 27. The decision to close a store is never an easy one and we are grateful for our Brockton area customers who have shopped with us over the years, Claire Larson, a Best Buy spokesperson, wrote in an email. Customers can continue to shop Best Buy at our twenty-two greater Boston area stores, including our Braintree and Dedham stores which are both 15 miles away.
Westgate Mall, which is owned by New England Development, confirmed the existing store will close, but left open the possibility for future partnership with the company.
Outlets of Little Rock center changes hands
Outlets of Little Rock center changes hands
A major real estate transaction noted:
County records show the
Outlets of Little Rock, the shopping center on Bass Pro Parkway near Otter Creek, was sold last month for $10 million to
Little Rock Outlets Real Estate Holdings. The seller was NED Little Rock LLC, an entity of Massachusetts-based New England Development.
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The property is appraised by the county assessor at $61 million and at one point it carried a $68 million mortgage from Bank of America, but that lien has been released in consideration of payment of a portion of the indebtedness, records show. The buyer is linked to a New York company whose manager is Mehran Kohansieh, also known according to other press accounts as Mike Kohan, whose activities are detailed here. He’s been buying properties despite a difficult time for retailers.
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