Billionaire industrialist Wilbur Ross Jr., who made his fortune buying distressed assets — businesses in trouble that need new capital — paid $13.2 million for a neighboring house in Palm Beach to expand his view of the Intracoastal Waterway. Ross and his wife, Hilary, bought 1 Pelican Lane, adjacent to his home at 328 El Vedado Road, on Wednesday at a premium, since the house wasn’t on the market. The Pelican Lane home covers 7,116 square feet and sits on a lakefront half acre. The two-story house was built in 1936 but is not landmarked. Ross reportedly plans to consolidate the two properties and replace the existing house on Pelican Lane with guest quarters.
Vulture investor swoops down on water view
June 09, 2008 12:15PM
October 31, 2009 at 11:03 pm, Anonymous said:
Why in the world would anyone want an expanded view of the Intracoastal Waterway? Climb out of the wanabe box and move somewhere else