The Real Deal Miami

Bill Gates may be shopping for Florida property

July 27, 2009 02:23PM

Bill Gates has reportedly been looking for waterfront properties in Martin and Palm Beach counties, with a budget of $65 million. But potential sellers say Justin Hance, who works for Gates and has been looking for property on his behalf, has been making low-ball offers. Hance paid $5 million for a 5,000-square-foot property on Jupiter Island in mid-July, and the home is now available for rent at a rate of $50,000 per month. Jeff Gelman, seller of the Jupiter Island property, said Hance lowered his offer by half a million after agreeing on a higher original price. The home has an indoor pool with a movie theater that pipes sound underwater, Gelman said.