Howard Lorber flips condo to investment banker Barry Zubrow

It’s the first resale at the 25-story tower

Feb.February 11, 2020 08:30 AM
Howard Lorber and Barry Zubrow with unit 1601 at The Bristol (Credit: Getty Images)

Howard Lorber and Barry Zubrow with unit 1601 at The Bristol (Credit: Getty Images)

Call it a good deal for Douglas Elliman boss Howard Lorber.

Lorber, Vector Group CEO and chairman of Elliman, sold his 16th floor unit at The Bristol in West Palm Beach for $7.6 million, three months after closing on the condo for $6.87 million, according to property records.

That means he flipped the four-bedroom, 4,300-square-foot unit for $730,000 more than he paid in November. Of course, that price doesn’t include broker commissions. If Lorber paid a 6 percent commission to the listing agent, that would come out to $456,000 for the latest sale.

The buyers are Barry and Jan Rock Zubrow, records show. Barry Zubrow is an investment banker and executive who is known for his time working at Goldman Sachs, and as chief risk officer of JPMorgan Chase during the 2008 financial crisis. Zubrow is on CIBC’s board of directors, his LinkedIn profile shows.

Chris Leavitt and Ashley McIntosh of Elliman represented Lorber, according to Redfin. Liza Pulitzer and Whitney McGurk of Brown Harris Stevens of Palm Beach brought the buyer. Elliman handled sales of the 25-story, 69-unit luxury tower.

Leavitt said the deal marks the first resale at The Bristol. Three developer units remain.

Leavitt declined to comment on whether Lorber had planned to flip the unit and he declined to comment on the commission structure.

The Bristol, at 1100 South Flagler Drive, overlooks the town of Palm Beach and was developed by Al Adelson and Gene Golub. The Zubrows’ new unit includes an office, a master suite with separate bathrooms and walk-in closets, Gaggenau appliances and oak floors, according to the listing.

The project is the first new luxury condo building in West Palm Beach over the past decade.
Buyers include beauty mogul Sydell Miller, who closed on a full-floor penthouse for $42.6 million in March. Adelson and his wife, Linda, recently paid $5.7 million for unit 1604 with plans to live there.

Lorber’s South Florida homes include a condo on Fisher Island in Miami Beach, located in the priciest ZIP code in the U.S.

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