The Real Deal Miami

Adjacent Palm Beach homes sell for $11.5M

Toronto company headed by furniture executive sold properties

April 18, 2014 11:15AM

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1230 North Ocean Boulevard

1230 North Ocean Boulevard

A Toronto company sold two Palm Beach homes for $11.5 million, The Real Deal has learned.

Deaj Properties closed the sale of the adjacent 1230 North Ocean Boulevard and 1233 North Ocean Way properties on Monday, according to Palm Beach County records. The county recorded the transaction on Wednesday. Deaj paid $5.8 million in March 2011 for the 6,263-square-foot home at 1230 North Ocean and $1.7 million for the 3,617-square-foot 1233 North Ocean residence in July 2013.

David Feldberg is identified as president of Deaj. Feldberg is president and CEO of Toronto-based office furniture firm Teknion Corp.

Gene Reed Jr. is the buyer of the homes. Reed did not obtain financing for the purchase. — Eric Kalis

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