Goldman Sachs banker drops $15.5M on Palm Beach condo

Oceanfront condo sold for a 51% increase from its last sale in May

Mar.March 31, 2017 11:20 AM

2 North Breakers Row. Inset: Richard Friedman

Former Aon insurance executive Robert Meister sold his Palm Beach condo for $15.5 million to Goldman Sachs banker Richard Friedman, records show. 

The deal is the priciest per-square-foot condo sale in Palm Beach, and the second most expensive condo to sell in the county, according to the Palm Beach Daily News. The deal breaks down to $4,121 per square foot.

Property records show Meister bought the 3,761-square-foot condo and 159-square-foot cabana, Unit S-44 at 2 North Breakers Row, for $10.23 million in May. The oceanfront units were just flipped less than a year later, marking a 51 percent increase.

Meister is vice chairman of Aon Risk Services Companies, a subsidiary of Aon Corporation, according to Bloomberg. The Palm Beach resident is also a real estate investor. He renovated the three-bedroom, fourth-floor unit at the Breakers Row building before selling it to Friedman, head of the merchant banking division at Goldman Sachs. The deed transfer of ownership lists a Fifth Avenue address in New York.

Palm Beach broker Lawrence Moens of Lawrence Moens & Associates was the listing agent.

In 2015, a unit on the second floor of the Palm Beach building sold for $12 million, a deal that broke down to $3,700 per square foot.

Two North Breakers Row was built in 1986 and is near the Breakers resort. The condo building’s amenities include access to the hotel’s gym, florist, hairstylist, manicurist and doorman. Membership includes access to the Breakers’ golf courses, tennis centers and private beach club – which features resort-style pools, Jacuzzis and bungalows.

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